期刊论文

Political connection and over-investment of firms

中文

长安大学学报(社会科学版)

1671-6248

2018

20

3

58-67

10.3969/j.issn.1671-6248.2018.03.007

中央高校基本科研业务费专项资金资助项目（CCNU17QN0006）；

本校为第一机构

在国家＂四万亿投资项目＂的大力支持下,高铁行业发展极其迅速,基本上覆盖了全国的线路地图。中国正处于经济结构调整阶段,高铁行业暂处于产能过剩的状态,在自身调节的同时,中国政府推出了＂高铁外交＂的政策帮助高铁行业＂走出去＂。采用面板数据的分析方法,选取2009-2014年间共64家核心高铁行业民营企业,通过描述性统计分析、数据与模型的选择和检验、回归结果进行实证分析政治关联下民营企业的过度投资问题。研究表明：部分地方政府对于所在辖区经济目标和政绩目标会驱使他们对该地区民营企业的经营决策及行为进行干预,使民营企业的发展投资决策和地方政府的经济预期目标一致,促使民营企业在...

The high-speed railway industry in China has grown quickly due to support from the government＇s four-trillion yuan investment plan and most parts of China are now covered by the highspeed railway network. However,the high-speed railway capacity is growing faster than the economy. To solve this problem,China has now proposed ＂High-speed railway diplomacy ＂to attract more offers of foreign contracts. In this context,this article selects 64 key private firms from the high-speed railway industry between 2009 and 2014 to empirically analyse the p...