解读电子信息产业“斯芬克斯之谜”：来自中关村微观企业的证据

Solving the “Riddle of The Sphinx” in Electronic Information Industry: An firm-level evidence from Zhongguancun Science Park

摘要:

电子信息产业对我国经济转型起着重要的作用，政策制定者需要优化其成长的政策逻辑。产业的“斯芬克斯之谜”说明，政策制定者对提升企业竞争力的技术优势、企业治理和政府扶持效果存在认识困难。通过对北京中关村电子信息企业的实证分析，结论显示微观企业具备经营决策实体和政府合伙人的双重身份，其技术优势并未成为企业规模扩张的主导力量，而规模扩张有赖于企业内部治理能力导致的融资能力强化和政府扶持下的减税作用。最后，对比以上因素的弹性系数，提出优化产业增长的政策逻辑。

Abstract:

China’s electronic information industry plays a key role in the period of economic transition, therefore the policy makers shall optimize the logic of their policies. The metaphor of its Riddle of the Sphinx in the industry suggests that there exist difficulties to recognize the development effectiveness of technical superiority, corporate governance factors and government intervention for policy makers. According to an empirical analysis of the firm-level data of Zhongguancun Science Park in Beijing, it shows that micro-enterprise plays multiple role of a decision making unit and a governments’ partner, moreover, the expanding scale does not depend on technical superiority, except for the internal corporate governance and the government support involving in financing capacity and tax subsidy policy. Finally, by comparing the elasticity coefficient of above factors, this paper puts forward growth- optimized policy logics in the industry.