摘要
本文首次基于大样本微观数据,利用倾向得分匹配和广义精确匹配克服样本选择偏误和内生性影响,系统考察ISO9000质量管理体系认证对中国生产性服务企业财务绩效的影响。研究发现,质量管理体系认证在提升中国生产性服务企业销售收入的同时降低了企业生产率,在总体上损伤了其盈利能力,说明生产性服务业中质量管理体系认证的信号显示对效率增进具有挤出效应。分组研究显示,先认证的企业获得更大幅度的销售收入增加,生产率下降也更加明显。技术密集程度高的企业认证后销售收入增幅更大,生产率下降幅度较小,但盈利能力下降幅度更大。这表明,质量管理体系认证并未真正改善中国生产性服务企业的财务绩效,它对企业生产率和盈利能力的抑制可能在长期阻碍生产性服务业的升级。政府需要系统性地降低服务交易中信息不对称程度、加强对认证机构的监督并通过完善要素市场环境,纠正服务企业的经营目标短期化问题。
This paper examines the effects of ISO9000 certification on the financial performance of Chinese productive service enterprises by employing the propensity score matching and coarsened exact matching based on a large sample of firm-level data to address selection bias and endogeneity issues.Our empirical results show that the certification increases the sales of Chinese producer service firms,significantly decreases their internal productivity and reduces profitability of the firms,implying that the external benefits from signaling of the certification could crowd out the efficiency enhancement derived from adopting the standards.Our further studies also show that earlier adopters could achieve larger increase in sales and more pronounced decrease in productivity.Firms engaged in supplying producer service with higher technology intensity obtain larger advantage in sales,a smaller decline in productivity,but a larger decline in profit margins.The results indicate that the rapid spread of ISO9000 certification in producer services of China has not generally improved financial performance of the adopting firms.The inhibiting effects of the certification on productivity and profitability may hinder the upgrading of producer services in China in long run.As to the policy implications,the government should reduce the level of information asymmetry in the productive service market,strengthen the supervision of certification bodies,and rectify the myopia of service firms by improving efficiency of factor market.
作者
陈艳莹
吴龙
Chen Yanying;Wu Long(School of Economics and Management,Dalian University of Technology,Dalian 116023;Institute of Industrial Economics,Jiangxi University of Finance and Economics,Nanchang 330013)
出处
《管理评论》
CSSCI
北大核心
2021年第4期271-282,共12页
Management Review
基金
国家自然科学基金项目(71373033)
国家社会科学基金项目(19BJY105)
教育部人文社会科学研究项目(18YJA790012)
辽宁省社会科学基金项目(L12DJY045)
作者简介
陈艳莹,大连理工大学经济管理学院教授,博士生导师,博士;通讯作者:吴龙,江西财经大学产业经济研究院讲师,博士。
