【作者】 古志辉； 李竑；

【Author】 Gu Zhi-hui,Li Hong (Business School,Nankai University,Tianjin 300071,China)

【机构】 南开大学商学院；

【摘要】 政府干预和行政联系都可能影响企业的决策。本文的数学模型将行政联系和政府干预纳入分析框架.研究结果表明行政联系和政府干预都可能导致企业过度投资和冗余雇员增加,最终导致企业利润水平下降。而且,随着行政干预程度的增加,企业投入到行政联系中的资源在增加,这样的研究结果意味着行政联系是政府干预企业运营的结果。更多还原

【Abstract】 Government intervention and political connections are likely to influence decision-making of the enterprise. The mathematical model proposed will bring the political connections and government intervention into the analytical framework.The conclusions show that the political connections and government intervention may lead to increased corporate over-investment and redundant employees,and ultimately lead to reduction in the level of corporate profits.With the increase in the degree of government intervention,enterprise will invest more resources to the political connections,which means that the political connections are the result of government intervention in enterprise operations.更多还原