CAJ | 학술논문

在文献回顾的基础上,就汇率对企业生产率的作用机理进行了理论剖析。构建面板数据模型,利用2006—2013年中国制造业上市公司的数据,实证检验了汇率改革以来中国汇率变动对企业生产率的影响。研究结果表明：汇率波动对企业劳动生产率有很大影响,汇率与企业生产率负相关;企业资产、营业利润、FDI、出口依存度、资本密集度会不同程度地影响汇率对企业生产率的传递效应。
재문헌회고적기출상,취회솔대기업생산솔적작용궤리진행료이론부석。구건면판수거모형,이용2006—2013년중국제조업상시공사적수거,실증검험료회솔개혁이래중국회솔변동대기업생산솔적영향。연구결과표명：회솔파동대기업노동생산솔유흔대영향,회솔여기업생산솔부상관;기업자산、영업리윤、FDI、출구의존도、자본밀집도회불동정도지영향회솔대기업생산솔적전체효응。
On the basis of the literature review,this paper analyzes the effect mechanism of exchange rate on enterprise＇s productivity theoretically.Then it uses the data of the manufacturing listed companies from 2006 to 2013to examine and verify the effect of exchange rate change on corporate productivity by panel data model.The results show as follows：the volatility of exchange rate has great effects on the labor productivity of enterprise,and the exchange rate has the obvious negative correlation with enterprise＇s productivity.Firm＇s asset,profit,FDI,export dependence,capital intensity are the factors affecting the transfer effect of exchange rate on firm＇s productivity.