CAJ | 학술논문

从国有企业新一轮“国选民退”的背景出发,利用2002-2013年期间中国国有上市公司100强的财务数据,采用Pair copula技术分析了国有企业的垄断扩张和规模扩张与企业绩效的关系,检验了垄断扩张和规模扩张对国有企业绩效的影响.结果表明：2009年后“国选民退”现象呈进一步加强的趋势,国有企业绩效并没有发生显著变化;国有企业绩效与企业垄断扩张显著负相关;在垄断扩张的条件下,规模扩张与国有企业绩效的局部相关关系非常弱.这说明,国有企业的垄断扩张并没有提高国企的经营绩效,政府需要谨慎对待“国选民退”现象.
종국유기업신일륜“국선민퇴”적배경출발,이용2002-2013년기간중국국유상시공사100강적재무수거,채용Pair copula기술분석료국유기업적롱단확장화규모확장여기업적효적관계,검험료롱단확장화규모확장대국유기업적효적영향.결과표명：2009년후“국선민퇴”현상정진일보가강적추세,국유기업적효병몰유발생현저변화;국유기업적효여기업롱단확장현저부상관;재롱단확장적조건하,규모확장여국유기업적효적국부상관관계비상약.저설명,국유기업적롱단확장병몰유제고국기적경영적효,정부수요근신대대“국선민퇴”현상.
Using the financial data of top 100 state-owned listed companies during 2002-2013 ,this paper empirically studies the relationship between monopoly expansion as well as scale expansion and enterprisers performance, and tests the impact of monopoly expansion and scale expansion on enterprise＇s performance by using Pair-copula in the background of the country back. The results show as follows：the phenomenon of the country back has further strengthened since 2009, and the performance of state-owned enterprises did not change significantly in those years; there is a significant negative correlation between the performance of state-owned enterprises and monopoly expansion, but there is a very weak correlation between the performance of state-owned enterprises and scale expansion under monopoly expansion. Therefore, the monopoly expansion of state-owned enterprises does not improve their operation performance,and the government needs to cope with the phenomenon of country back cautiously.