Sponsor(s): Institute of Industrial Economics of CASS
12 issues per year
Current Issue: Issue 02, 2020
Journal official website:http://www.ciejournal.org/
China Industrial Economics is supervised by Chinese Academy of Social Sciences, and sponsored by Institute of Industrial Economics, Chinese Academy of Social Sciences. It aims to report researches on industrial economics and business management, and to reflect outstanding research results on Chinese industrial economy and enterprise development. The scope covers national economy, industrial economy and business management. The journal is included in CSSCI, and is the top journal in the field of industrial economics in China.
Shi Dan, Li Haijian
Impact of going public on quality upgrading of export products: evidence from China’s manufacturing firms
China Industrial Economics,2020,No. 02
For the first time, this paper investigated the effect and mechanism of going public on the quality upgrading of export products. Based on the theoretical mechanism of the effect of going public on the quality upgrading of export products from the aspect of management quality, complexity of production technology and quality of intermediate inputs, this paper used the matched data of China’s public firms data, China Industrial Enterprises Database and China’s Customs database from 2000–2013 to provide an empirical test. The results show that going public has a significant promoting effect on the quality upgrading of export products, and in the long run, the effect has one-year lag period and then shows sustainability. After the method of regression estimation and the measurement of key variables are changed and potential omitted variables are controlled, the results are robust. Furthermore, the mediation effect model is used to test the mechanism and the results show that the improvement of management quality and the complexity of production technology are the channels of promoting the quality upgrading of export products, but the channel of improving the quality of intermediate inputs is not available. The conclusion shows that equity financing is beneficial to the quality upgrading of export products, and the management quality improvement arising from the high proportion of long-term institutional investors, production technology innovation and improvement, and the use of diversified intermediate inputs play an important role in the quality upgrading of export products. Therefore, this paper has important policy implications for China to deepen the structural reform of financial supply side and cultivate new competitive advantages for export firms.