Intensified law enforcement and firm innovation: Evidence from China's antitrust consolidation

IF 5.2 1区 经济学 Q1 ECONOMICS 中国经济评论 Pub Date : 2024-08-23 DOI:10.1016/j.chieco.2024.102265
{"title":"Intensified law enforcement and firm innovation: Evidence from China's antitrust consolidation","authors":"","doi":"10.1016/j.chieco.2024.102265","DOIUrl":null,"url":null,"abstract":"<div><p>This paper examines the significant transformation in China's antitrust regulatory framework following the consolidation of its three primary antitrust agencies the Ministry of Commerce (MOFCOM), the National Development and Reform Commission (NDRC), and the State Administration for Industry &amp; Commerce (SAIC) into the State Administration for Market Supervision (SAMR). Utilizing data from publicly listed firms across various industries, we analyze how firms in highly concentrated industries have adapted to this consolidation, by increasing the R&amp;D investment, patent filing, and total factor productivity (TFP). Our mechanism channel indicates that stricter enforcement actions and fines by SAMR have spurred competition and innovation, with effects that are comparably significant across both state-owned enterprises (SOEs) and private firms. The paper contributes to the literature by providing an empirical assessment of the effects of this major restructuring within China's Anti-Monopoly Law (AML) enforcement. Our findings shed light on the broader implications of regulatory consolidations on firm innovation, offering insights into the efficacy of such transformations in antitrust policy.</p></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":null,"pages":null},"PeriodicalIF":5.2000,"publicationDate":"2024-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"中国经济评论","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1043951X24001548","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0

Abstract

This paper examines the significant transformation in China's antitrust regulatory framework following the consolidation of its three primary antitrust agencies the Ministry of Commerce (MOFCOM), the National Development and Reform Commission (NDRC), and the State Administration for Industry & Commerce (SAIC) into the State Administration for Market Supervision (SAMR). Utilizing data from publicly listed firms across various industries, we analyze how firms in highly concentrated industries have adapted to this consolidation, by increasing the R&D investment, patent filing, and total factor productivity (TFP). Our mechanism channel indicates that stricter enforcement actions and fines by SAMR have spurred competition and innovation, with effects that are comparably significant across both state-owned enterprises (SOEs) and private firms. The paper contributes to the literature by providing an empirical assessment of the effects of this major restructuring within China's Anti-Monopoly Law (AML) enforcement. Our findings shed light on the broader implications of regulatory consolidations on firm innovation, offering insights into the efficacy of such transformations in antitrust policy.

查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
强化执法与企业创新:中国反垄断整顿的证据
中国的三个主要反垄断机构--商务部(MOFCOM)、国家发展和改革委员会(NDRC)以及国家工商行政管理总局(SAIC)合并为国家市场监督管理总局(SAMR)后,中国的反垄断监管框架发生了重大转变。利用各行业上市公司的数据,我们分析了高度集中行业的企业如何通过增加研发投入、专利申请和全要素生产率(TFP)来适应这种整合。我们的机制渠道表明,国家知识产权局更严格的执法行动和罚款刺激了竞争和创新,其效果在国有企业和私营企业中都相当显著。本文对中国《反垄断法》(AML)执法范围内的这一重大调整所产生的影响进行了实证评估,为相关文献做出了贡献。我们的研究结果揭示了监管整合对企业创新的广泛影响,为反垄断政策中此类转型的有效性提供了启示。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
中国经济评论
中国经济评论 ECONOMICS-
CiteScore
10.60
自引率
4.40%
发文量
380
期刊介绍: The China Economic Review publishes original works of scholarship which add to the knowledge of the economy of China and to economies as a discipline. We seek, in particular, papers dealing with policy, performance and institutional change. Empirical papers normally use a formal model, a data set, and standard statistical techniques. Submissions are subjected to double-blind peer review.
期刊最新文献
Did the anti-avoidance rules curtail the profit shifting of foreign multinationals in China? Intergenerational preference transmission in physician families during the pandemic: Theory and evidence How motivations and costs affect financial knowledge learning? Evidence from a large-scale FinTech experiment in China The long-term cognitive and schooling effects of childhood vaccinations in China Unveiling the shadows: School bullying and students' ability erosions in Chinese compulsory schools
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1