姜是老的辣吗?——中国民营企业竞争力和企业经验的半参数分析

本文利用半参数模型对企业竞争力和企业经验之间的关系进行了实证研究。首先采用16个不同的企业竞争力评价指标分别考察了企业规模、社会效益、经营能力、经营安全、盈利能力、技术实力、人力资本价值、出口创汇能力、发展潜力和企业经验之间的关系,发现流动资产周转率、劳动生产率和发展潜力随着企业经验的积累基本呈下降趋势,而其盈利能力和所提供的就业人数基本维持稳定,其余指标和企业经验之间大致呈倒U型关系。我们还采用主成份分析法综合这16个指标,构造了企业竞争力综合指标,并发现它和企业经验之间的关系并不是简单的"倒U型",而是"M型"。

Older is Wiser?——Evidence from a Semiparametric Study of Competitive Power and Experience in China's non-governmental Enterprises

This paper employs semiparametric models to study the relationship between competitive power and experience. First, we study in turns the relationships between the experience and the nine categories of competitive power, namely, scale, social benefits, operation power, operation risk, profitability, technologic power, human capital value, export power and development potential. We find that with the increase of experience,the current asset turnover, productivity and development potential are basically decreasing; profitability and employment offered do not vary much; while the rest indices show inverse U relationships with the experience. We also construct a composite competitive power index with the method of factor analysis and find it has an "M type" instead of an "inverse U type" relationship with the experience.