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本文利用中国2003～2007年29个四位数制造业产业的数据考察了企业进入阻止行为对市场势力及净进入率,进而对市场绩效产生的影响。本文的主要发现及结论是:过剩生产能力的存在确实提高了限制性价格,市场需求增长率对价格成本差也会造成一定的侵蚀,然而这两个发现并没有支持企业主动利用过剩生产能力实施进入阻止的假设,却支持了我国产业普遍存在的过度进入及退出壁垒过高引致的过度竞争的推测;较高的过剩生产能力导致了较高的价格成本差,这支持了企业利用限制性价格维持其市场势力的假设;广告支出可能会侵蚀企业的超额利润,这会降低潜在企业进入的激励,较高的广告密度还会增加新的进入者进入的困难;研发支出使得在位企业得以维持较高的价格成本差,保证了在位企业的市场势力,而研发支出对净进入的影响却是不显著的。
In this paper, the data of 29 four-digit manufacturing industries in China from 2003 to 2007 are used to examine the impact of firm-entry blocking behavior on market forces and net entry rate, which in turn results in market performance. The main findings and conclusions of this paper are: the existence of excess capacity does raise the restrictive price, and the market demand growth rate will also cause some erosion to the price cost difference. However, these two findings do not support the enterprises to take the initiative to use excess capacity to implement The assumptions that have entered the blockade support the speculation that over-participation in our industry exists and over-competition caused by the exorbitant exit barriers; the higher excess capacity leads to a higher price-cost difference, which supports the use of restrictive prices Maintaining the assumptions of its market power; Advertising spending may erode corporate profits, which will reduce incentives for entry of potential businesses, higher advertising densities will also increase the difficulty for new entrants to enter; R & D spending will enable incumbents to maintain The high price and cost difference guarantee the market power of the incumbent enterprises, while the impact of R & D expenditure on net entry is insignificant.