主题：Dynamics of the Subnational Regional Effect: Evidence from China
主讲人：Professor V. Brian Viard， Cheung Kong Graduate School of Business
主持人：Shihe Fu, Professor, RIEM
时间：2015年4月24日(周五)下午 2:30--4:00
地点：H503 Yide Hall, Liulin Campus
主办单位：经济与管理研究院 科研处
主讲人简介：
V. Brian Viard ，长江商学院副教授，2000年博士毕业于芝加哥大学商学院。2000－2007在斯坦福大学商学院任教，之后在长江商学院任教。研究领域为产业组织、应用微观经济学、企业竞争战略、电信业、定价等。他在论文见于Journal of Public Economics, The RAND Journal of Economics、American Economic Journal: Microeconomics、Management Science等顶尖英文经济、管理期刊上。他的个人网址：http://english.ckgsb.edu.cn/faculty_content/brian-viard
内容提要：Previous studies show that subnational regional effects are important in explaining operating profits of multinational corporations’ (MNCs) foreign affiliates. To better understand the effect we examine it across ownership types, development levels, time, and industries using a comprehensive sample of manufacturing firms in China from 1998 to 2007. Virtually all firms in the sample operate in a single location precluding strategic manipulation of earnings across subsidiaries which might distort previous results.
The subnational regional effect plays a large role for all types of firms (private, collective, and foreign) except state-owned enterprises (SOEs). In aggregate, the effect exceeds that of year, industry, and ownership type and is second only to firm. It is particularly strong for private firms (16.5% of total and 30.6% of explained variance). The effect is unrelated to development: it is equally strong in China’s less-developed Western as in more-developed Eastern provinces and is equally important in special economic zones as outside. The effect is larger in local- than national-scope industries consistent with transportation costs limiting market integration. However, neither sorting of industries nor ownership types by regions explains the aggregate effect. Contrary to previous predictions, the subnational regional effect has increased over time even as China has developed and globalized dramatically.
