OFDI如何影响装备制造企业结构性分解的全要素生产率？——基于差异性路径的分析

将全要素生产率结构性分解为三个维度，即技术进步、纯技术效率以及规模效率，这三种形式也可看作是OFDI影响企业全要素生产率提升的差异性路径，基于这三类差异性路径，构建了中国装备制造业OFDI与全要素生产率之间的机制分析框架。借助中国装备制造业上市公司数据，利用倾向得分匹配（PSM）方法从实证角度验证OFDI提升装备制造企业全要素生产率的差异性路径，并检验了OFDI分别对装备制造业下六个细分行业中微观企业全要素生产率的影响效应。结果显示，装备制造业上市公司OFDI显著促进纯技术效率提升，但显著抑制规模效率。且正负向效应都逐年减弱。分样本数据显示，交通运输设备以及计算机通信和其他电子设备制造企业OFDI对纯技术效率和规模效率的影响效应最为显著。

How Does Outward FDI Influence the Structural Decompositions of TFP of Equipment Manufacturing Enterprises？——Analysis Based on the Differential Path

Three sub-sections of TFP are divided as technological process, pure technical efficiency and scale efficiency, which are also regarded as the differential path of promoting the equipment manufacturing industry’s TFP. Based on the differential path, the mechanism analysis between outward FDI and China’s equipment manufacturing industry is constructed. With the data of public-listed companies, PSM is used to verify the hypothesis proposed in this paper and then to test the mechanism of the six categories of equipment manufacturing industry. The results show that outward FDI of public-listed companies in equipment manufacturing industry significantly promotes the pure technical efficiency, but has a significant negative effect on the scale efficiency. What’s more, the positive effect decreases year by year, while the negative effect gradually weakens. Subsample data shows that for the pure technical efficiency and scale efficiency, the significantly positive effects come from transportation equipment manufacturing industry and computer communication and other equipment manufacturing industry.