CAJ | 학술논문

产业集群对企业业绩增长的影响具有两面性，而集聚正（负）外部性对企业业绩增长的作用效果会受到企业自身因素的影响。基于企业异质性视角，运用中国工业企业数据库，实证检验了产业集群对异质企业业绩增长的影响，并应用分位数回归法，考察了产业集群对异质企业业绩增长的影响随企业业绩增长率的变化趋势。结果发现，总体上，企业业绩增长明显受益于MAR外部性与Jacobs外部性；企业资本深化度与本土根植性水平越高，MAR外部性与Jacobs外部性对企业业绩增长率的促进效果越明显；随着企业业绩增长率的提升，MAR外部性与Jacobs外部性对于高资本深化度与强本土根植性企业业绩增长的促进效果呈现出增强的趋势；低业绩增长率企业的资本深化度越高其拥塞效应越显著。
산업집군대기업업적증장적영향구유량면성，이집취정（부）외부성대기업업적증장적작용효과회수도기업자신인소적영향。기우기업이질성시각，운용중국공업기업수거고，실증검험료산업집군대이질기업업적증장적영향，병응용분위수회귀법，고찰료산업집군대이질기업업적증장적영향수기업업적증장솔적변화추세。결과발현，총체상，기업업적증장명현수익우MAR외부성여Jacobs외부성；기업자본심화도여본토근식성수평월고，MAR외부성여Jacobs외부성대기업업적증장솔적촉진효과월명현；수착기업업적증장솔적제승，MAR외부성여Jacobs외부성대우고자본심화도여강본토근식성기업업적증장적촉진효과정현출증강적추세；저업적증장솔기업적자본심화도월고기옹새효응월현저。
Industrial clusters may have two different impacts on firm performance growth, and the effect of posi-tive (or negative) externalities to the growth of firm performance may also be affected by self-factors of firms. Under the perspective of enterprise heterogeneity, this paper empirically researched into the effect of industrial clus-ter to the performance growth of heterogeneous firms with the data from Chinese Industrial Enterprises Database. By the further application of quantile regression method, this paper specifically studied how the effect of industrial clusters to the performance growth of heterogeneous firms will be changed along with the growth rate of firm performance. The results showed that firm performance significantly benefits from MAR externalities and Jacobs externalities; MAR externalities and Jacobs externalities may have more obvious promoting effect on growth rate of firm performance when firm capital deepening degree and local rooting level become higher; as the growth rate of firm performance increases, both externalities' promoting effect on high capital deepening degree and strong local rooting level show the increasing trend; blocked effect only shows negative effect on performance growth of firms which have high capital deepening degree and low growth rate.