产业经济研究
產業經濟研究
산업경제연구
Industrial Economics Research
2009年
2期
25~32
,共null页
零售业 制造业 渠道势力 纵向压榨 过度投资
零售業 製造業 渠道勢力 縱嚮壓榨 過度投資
령수업 제조업 거도세력 종향압자 과도투자
retailing; manufacturing; channel power; vertical squeeze; overinvestment
本文从纵向关系的视角出发，通过建立产业间投资决策权衡模型，对零售业压榨制造业利润的问题进行了全新的研究。本文采用1995年～2005年中国18个轻工制造业与零售业盈利影响因素面板数据进行分析发现，零售业存在利用渠道势力对制造业利润进行纵向压榨的现象，且这种优势有被滥用从而使零售业自身陷入过度投资的陷阱；与国外先进制造业相比，中国制造业整体表现出技术水平不高、盈利手段局限于简单的规模扩张。
本文從縱嚮關繫的視角齣髮，通過建立產業間投資決策權衡模型，對零售業壓榨製造業利潤的問題進行瞭全新的研究。本文採用1995年～2005年中國18箇輕工製造業與零售業盈利影響因素麵闆數據進行分析髮現，零售業存在利用渠道勢力對製造業利潤進行縱嚮壓榨的現象，且這種優勢有被濫用從而使零售業自身陷入過度投資的陷阱；與國外先進製造業相比，中國製造業整體錶現齣技術水平不高、盈利手段跼限于簡單的規模擴張。
본문종종향관계적시각출발，통과건립산업간투자결책권형모형，대령수업압자제조업리윤적문제진행료전신적연구。본문채용1995년～2005년중국18개경공제조업여령수업영리영향인소면판수거진행분석발현，령수업존재이용거도세력대제조업리윤진행종향압자적현상，차저충우세유피람용종이사령수업자신함입과도투자적함정；여국외선진제조업상비，중국제조업정체표현출기술수평불고、영리수단국한우간단적규모확장。
This paper proposes a tradeoff model for industry investment decision-making and investigates the vertical squeeze phenomenon between retailing and manufacturing from the viewpoint of vertical relationship. A panel data contains the factors impacting 18 light manufacturing and retailing＇s earnings was used to verify the model. We find that channel power was capitalized by retailing to execute vertical squeeze against manufacturing, this abuse of channel power is inducing the retailing fall into an overinvest trap. The evidence also suggests that increasing investment is the only way for manufacturing to maintain its profit, the technical level of Chinese manufacturing is so low that scale expansion was the barely instrument to keep profitable.
