Research On The Growth And Scale Constraint Of Chinese Industrial Firms Under The Global Value Chain

Under the background of Globalization,China's industrial development needs not only "Big Macs" to lead the global competition,but also a large number of small and medium-sized enterprises to participate in all aspects of production.Both of them form a stable and orderly ecosystem.Nowadays,China has become the largest industrial country and trading country in the world,and has formed a large scale and complete industrial system.On the one hand,a large number of small and medium-sized enterprises have been embedded in the global value chain dominated by multinational corporations and become an important force to promote China's industrialization.On the other hand,the state-owned enterprises are constantly concentrating in gradual reform,and a large number of large private enterprise groups have begun to emerge,forming a large number of state-owned enterprise groups.However,China's industrial enterprises are often faced with dual constraints of scale and technology in their growth,which shows the lack of competitiveness of large enterprises and the difficulty of the expansion of small and medium-sized enterprises.In the new round of globalization,especially in the construction of the human destiny community with value chain as the link,it not only needs large enterprise groups to play the dominant value chain of internal scale economic advantages,but also needs numerous small and medium-sized enterprises with professional and precision as support.Therefore,it is not only an important guarantee to maintain the road of China's industrialization,but also a cornerstone for China to build a global value chain,which can make enterprises turn to high quality growth track.In order to clarify the internal logic of the growth of Chinese industrial enterprises,this paper puts the enterprise growth in the background of the global value chain,constructs a theoretical analysis framework from macro to medium to micro,and uses the micro data of Chinese industrial enterprises to test the theory.The innovation of the macro analysis framework lies in the construction of a monopoly competition market model for the coexistence of multi product oligopoly and single product small enterprises,which effectively integrates the real characteristics of large enterprises and small enterprises into the theory of monopoly competition.Moreover,we introduces the heterogeneity of enterprise cost,technology substitution elasticity and complementary parameters between industry and industry,and discusses the constraints faced by large and small enterprises in scale expansion.The innovation of the medium analysis framework is that,considering the vertical and horizontal differentiation of products,the logical relationship between enterprise innovation and scale expansion is analyzed in the context of corporate quality competition.Furthermore,the role of government is further introduced to analyze the impact of government policy behavior on enterprise growth.The innovation of the microanalysis framework is that,based on the trend of modular division of labor in the global value chain,the problem of enterprise production and sales is transformed into the analysis of product performance in the Lancaster framework,and the path of branding and product quality improvement in the growth of the enterprise is combed.The empirical analysis is based on the microcosmic data of the Chinese industrial enterprise database,looking for the agent variables of the quality of enterprise growth,the degree of differentiation between products,the degree of division of labor embedded in the global value chain and the level of large-scale flexible manufacturing,which is the demonstration and supplement of the conclusion of theoretical analysis.The main content of this paper is divided into seven chapters,the third chapter to the sixth chapter is the core part of this article.The third chapter first analyzes the size distribution of the enterprise from the macro perspective of the general equilibrium,and discusses the marginal and social welfare level of the enterprise when the market equilibrium is balanced.The fourth chapter,from the perspective of global value chain governance and incomplete contract,combs the impact of exports on enterprise growth and export to the size distribution of regional enterprises.The corresponding hypotheses are empirically tested by using industrial enterprise database data and provincial panel data.The fifth chapter describes the internal mechanism of enterprise growth from the middle perspective of local equilibrium,and considers the influence of government subsidies on the growth trajectory of the enterprise,and uses the data of 2004-2007 years industrial enterprise database to carry out the test.The sixth chapter analyzes the decision choice of the individual growth from the micro level,and uses the Tobit model to test the influence of the modular division of labor and information on the enterprise's innovation behavior.The main conclusions obtained in this paper are as follows:First,the size distribution of firms in the market depends on the fixed cost difference between firm groups and small firms,the quantity of firm groups and the technological substitution between firms.The technical complementarity between different types of firms determines the market structure and the production boundary of the firm.Because consumers' preferences for diversification,the elasticity of substitution between products in the same competitive market will reduce the overall size of the industry,and the stronger the inter industry complementarity,the larger the total production scale of the industry will be.Under the condition that the production technology of the single firm is unchanged,the greater the elasticity of substitution is,the less the number of firms is;the more complementary the industry is,the more the number of firms will be.Second,under the paradigm of quality competition,there are endogenous dynamic mechanisms within the firm from "innovation to product quality promotion to firm scale growth".Government subsidies can strengthen the growth mechanism of the firm,but the subsidy may not enter the innovation link and cause the loss of efficiency.The greater the degree of differentiation among firms,the smaller the performance of innovation subsidies.The empirical research shows that the growth rate of firms has a significant correlation with their scale level,and the growth rate of firm sales scale and asset size is U based on the absolute scale level.Firm research and development investment has promoted the growth of sales scale and asset scale,but it has no significant effect on attracting new employees.To a certain extent,it indicates that technological innovation in China's industrial firms is mainly based on skill biased or capital biased technological progress.Firm subsidies will have a negative impact on the sales growth rate of firms,but will significantly enhance the growth rate of total assets of firms,that is,subsidies may enter the value-added link,but not enter the R&D link,and promote the growth of main business revenue.Third,modular production speeds up the spread of information in the consumer,and improves the R&D revenue of the firm.Moreover,the modularization reduces the quality gap of the product,which makes the new entry firms have larger product sales and help firms to shape their own brands.The deepening of the degree of modularization is uncertain on the quality of the independent R&D module.The degree of modularity deepens the sales volume,improves the marginal revenue of R&D,and drives the diffusion of quality information of the R&D module,but at the same time,it also improves the marginal cost of R&D.Only when firms have large-scale flexible manufacturing capacity,firms will increase the research and development of independent production modules and provide higher quality products.In the grouping regression of equipment manufacturing industry and the eastern region,it is confirmed that the deepening of modularity will promote the R&D investment of firms,while the higher the proportion of raw materials in the Midwest,the lower the R&D investment of firms.In addition,the level of information has a significant role in promoting firm R&D investment.Fourth,the relationship between the growth rate of firm scale and the degree of firm export dependence is inverted U.That is,when export level is low,export can promote firm growth;however,when product sales depend heavily on exports,the growth rate of firms will slow down,so that they will be locked on a certain scale economy level.The "bottleneck effect" of firm export dependence on growth is derived from the bilateral locking effect of private asset investment under incomplete contract.As the multinationals have the monopoly power of the buyer,the export of the firms depends more on the contractual relationship with the multinational corporations.Through the investment of special assets,multinationals lock the production of firms in specific links of the value chain,so that the restrictive effect of exports on the scale growth of firms is further enlarged.