中国农业大学学报2024，Vol.29Issue(7)：259-271,13.DOI:10.11841/j.issn.1007-4333.2024.07.23
央地产业政策协同对农业企业专用性投资的影响
Research on the impact of central and local industrial policy synergy on agricultural enterprise specific investment
摘要
Abstract
To explore the impact of macroeconomic policy environment fluctuations on microenterprise behavior,the relationship between the central and local industrial policy synergy and the specific investment in agricultural enterprises are discussed.The agricultural industry enterprises listed on the A-share markets in China from 2008 to 2022 are taken as samples in this study.The industrial policy texts at the central and local provincial levels are quantified.The entropy method and coupling coordination model are used to measure the level of central and local industrial policy synergy.Combined with the data from agricultural listed enterprises,the ordinary least squares method is adopted to conduct empirical testing.The research findings indicate that:1)The central and local industrial policy synergy promoted specific investment in agricultural enterprises.2)The central and local industrial policy synergy promoted specific investment in agricultural enterprises by enhancing the risk-taking capacity of enterprises,reducing cash holdings,and alleviating financing constraints.3)Compared to the central and local selective industrial policy synergy,the central and local functional industrial policy synergy had a stronger promoting effect on specific investment in agricultural enterprises.Compared to state-owned enterprises and enterprises located in low marketization areas,the private enterprises and enterprises located in high marketization areas are more susceptible to the incentive effect of the central and local industrial policy synergy on specific investment.Therefore,the formulation and implementation of industrial policies should focus on policy synergy.Local governments should maintain consistency with central policies,alleviate conflicts and inconsistencies between central and local policies,reduce uncertainty expectations of enterprises,and promote enterprise investment.关键词
央地产业政策协同/专用性投资/熵值法/耦合协调度模型/农业上市企业Key words
central and local industrial policy synergy/specific investment/entropy method/coupling coordination model/agricultural listed enterprise分类
管理科学引用本文复制引用
李子婕,何玉成..央地产业政策协同对农业企业专用性投资的影响[J].中国农业大学学报,2024,29(7):259-271,13.基金项目
现代农业产业技术体系建设专项(CAR-21) （CAR-21）
国家自然科学基金项目(71573098) （71573098）
