作　　者： ;

机构地区： 暨南大学管理学院

出　　处： 《中国工业经济》 2019年第10期137-154,共18页

摘　　要： 高铁开通促进了生产要素的跨区域流动和市场一体化程度的提高,从而降低企业获取信息的机会成本、直接的物流成本和交易成本,这使得企业有动机调整现有的供应商分布。本文利用中国高铁开通的“准自然实验”,基于双重差分模型(DID)的分析结果表明,企业所在城市开通高铁后,企业与供应商的平均地理距离明显增加,供应商的分布也更为分散;为解决内生性问题,本文基于城市地理特征构造工具变量,并发现了一致的结果。进一步的异质性检验结果表明,在行业竞争程度较高、民营企业、制造业企业和供应商集中度较低的样本中,高铁开通对供应商分布的影响更为明显。针对其具体作用机制,本文发现高铁开通的影响主要见诸于有机场、互联网普及率较高以及铁路货运量增加的地区,表明高铁开通强化了信息环境对供应商分布的影响。经济后果方面,本文发现高铁开通后,企业经营绩效出现显著上升。本文还进一步提供了交通基础设施促进经济增长的微观机制研究证据。 The opening of high-speed rail(HSR)promotes the cross-regional flow of production factors as well as market integration,thereby reducing the firms’information search costs,logistics costs and transaction costs,and leading them to search more and find better suppliers.In this paper,we investigate the effect of access to high-speed railway on supplier distribution and using the construction of China’s HSR network as a natural experiment.In the DID analysis,we document that the geographical distance between the company and its principal suppliers increases significantly after the introduction of HSR in the city where the company’s office is located.To further address endogeneity issue,we construct instrumental variables based on the geographical gradient and find consistent evidence,also parallel trend analysis yields similar evidence.In cross-sectional test,we find a stronger impact of HSR among firms with higher market competition,NSOE firms,manufacturing firms,or firms with lower supplier concentration.Further,we explore the channel through which the introduction of HSR impacts supplier distribution,and show that the HSR reduces the cost of information search.As a result,we find that the introduction of HSR leads to higher operating performance and lower operating costs of firms.We contribute to the literature on identifying externality of transportation infrastructure construction from the perspective of enterprise supplier distribution,and reveal the micro-mechanism of high-speed railway effect.

关 键 词： 高速铁路 地理距离 信息成本

领　　域： []