德勤－复旦会计论坛系列讲座之一百八十
时 间：2021年4月20日（周二）下午14：00
地 点：史带楼302室
主持人： 张新 副教授
主讲人：谢维思 (上海交通大学)
主 题：Industrial Policy, Productivity and Zombie Firms
摘 要：We analyze the causal impact of the industrial policy structure on the formation of zombie firms, using a rich data set of manufacturing firms in China between 1998 and 2007. We find that selective industrial policy schemes increase zombie shares in skill intensive sectors, because as subsidized firms experience improvement in productivity, they capture more market share, and turn lessor un-subsidized firm into zombies. We show that zombies are more likely to emerge in regions and sectors where market exit barriers are high. A simple back-of-the-envelope-analysis suggests that the presence of zombie firms causes the problem of resources misallocation, which as a result, adversely affects the average productivity at the aggregate level.
会计学系
2021-4-14
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