地区司法能力与企业全要素生产率:建立巡回法院的证据

IF 5 2区 经济学 Q1 ECONOMICS Structural Change and Economic Dynamics Pub Date : 2024-08-28 DOI:10.1016/j.strueco.2024.08.014
Xubing Fang , Maotao Liu
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引用次数: 0

摘要

全要素生产率(TFP)在企业高质量发展阶段的战略重要性日益凸显,了解地区司法能力对企业全要素生产率的影响至关重要。我们将巡回法院的设立视为区域司法能力的准自然实验,并构建了交错差分模型来研究区域司法能力如何影响企业全要素生产率。我们发现,巡回法院的设立显著提高了企业全要素生产率。机制检验表明,巡回法院的设立改善了宏观层面的市场竞争环境、法律环境和契约环境,提高了微观层面的资源配置效率,增强了创新能力,减少了贿赂支出,缓解了融资约束,促进了专业化分工,从而提高了企业全要素生产率。在地方保护和行政干预程度较高、知识产权司法保护水平较低、产品市场竞争强度较弱的地区,以及没有政治关系的非国有企业中,巡回法院的积极效应更为明显。经过一系列稳健性和内生性检验,我们的结果仍然是稳健的。总之,本研究不仅揭示了司法能力提升对企业发展的重要作用,也为深化司法体制改革、完善巡回法庭制度提供了证据支持。
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Regional judicial capacity and corporate total factor productivity: Evidence from the establishment of circuit courts

The strategic importance of total factor productivity (TFP) in the high-quality development phase of enterprises is increasingly prominent, and understanding the impact of regional judicial capacity on corporate TFP is crucial. We treat the establishment of Circuit Courts as a quasi-natural experiment for regional judicial capacity and construct the staggered difference-in-differences model to examine how regional judicial capacity affects corporate TFP. We find that the establishment of Circuit Courts significantly enhances corporate TFP. Mechanism tests show that the establishment of Circuit Courts improves the macro-level market competition environment, legal environment, and contractual environment, enhances micro-level resource allocation efficiency, strengthens innovation capacity, reduces bribery expenses, eases financing constraints, and promotes specialized division of labor, thereby improving corporate TFP. The positive effects of Circuit Courts are more pronounced among firms in regions with higher levels of local protection and administrative intervention, lower levels of intellectual property judicial protection, weaker product market competition intensity, and among non-state-owned enterprises without political connections. Our results remain robust after a series of robustness and endogenous tests. Overall, this study not only reveals the important role of judicial capacity enhancement on enterprise development, but also provides evidence support for deepening the reform of the judicial system and improving the Circuit Courts system.

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来源期刊
CiteScore
9.60
自引率
4.90%
发文量
159
期刊介绍: Structural Change and Economic Dynamics publishes articles about theoretical, applied and methodological aspects of structural change in economic systems. The journal publishes work analysing dynamics and structural breaks in economic, technological, behavioural and institutional patterns.
期刊最新文献
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