摘要
“一带一路”倡议的提出给企业对外发展带来了历史的机遇和挑战。重点探讨建筑企业参与“一带一路”给企业财务绩效带来的影响,选取2011—2018年建筑行业上市公司的数据,采用倾向得分匹配倍差法(PSM-DID)来研究“一带一路”倡议对微观企业主体的影响。结果表明:建筑行业的上市公司间存在差异,采用倾向得分匹配法(PSM)是必要的,方法和变量选取是有效的;通过对交互项的相关回归,得出“一带一路”对企业财务绩效的影响是正向的,说明企业参与“一带一路”会促进企业绩效的提升,利于企业的发展。结论可以为政府提供政策建议,也有利于深化企业主体对“一带一路”倡议实施效果的解读,帮助企业更好地进行决策,为企业今后发展战略的制定提供参考。
“One Belt and One Road”initiative has brought historical opportunities and challenges to the external development of enterprises.This study focuses on the impact of construction companies’participation in the“One Belt and One Road”on corporate financial performance.Selecting the data of listed companies in the construction industry from 2011 to 2018,using the Propensity Score Matching Difference Method(PSM-DID)to study the impact of the“One Belt and One Road”initiative on micro-enterprise entities,the following conclusions are drawn:there are differences among the listed companies in the construction industry,so it is necessary to adopt propensity score matching method,and the selection of method and variable is effective.Through the regression of interactive items,it is concluded that the“One Belt and One Road”has a positive impact on the financial performance of enterprises,and it shows that the participation of enterprises in“One Belt and One Road”will promote the improvement of enterprise performance and benefit the development of enterprises.The conclusion can provide the government with policy recommendations,and it is also conducive to deepening the interpretation of the effects of the implementation of the“One Belt and One Road”initiative by enterprise subjects,and help enterprises to make better decisions,and provide reference for the formulation of future development strategies for enterprises.
作者
秦颖
孙丽梅
冯晓阳
QIN Ying;SUN Limei;FENG Xiaoyang(School of Urban Economics and Management,Beijing University of Civil Engineering and Architecture,Beijing 100044)
出处
《北京建筑大学学报》
2021年第3期86-93,共8页
Journal of Beijing University of Civil Engineering and Architecture
基金
国家自然科学基金项目(61772062)
北京未来城市设计高精尖创新中心资助项目(UDC2019021424)
北京市社会科学基金项目(16GLB011)。
