| As China enters a new stage of high-quality development and the key period of becoming a strong nation in manufacturing,the world is experiencing great changes that have not been seen in a century.Whether China’s manufacturing industry can seize the opportunity and realize the strategy of manufacturing power lies in two factors: on the one hand,we should actively promote the optimization and upgrading of manufacturing industry,cultivate new competitive advantages of manufacturing enterprises,and accelerate the improvement of quality and efficiency of manufacturing products;on the other hand,we should further promote the reform of market-oriented allocation and promote the smooth flow of resource,so as to ensure the smooth circulation of the domestic economic cycle and achieve stable and sustainable economic growth.Service-oriented manufacturing is a new business form and mode of deep integration and development of advanced manufacturing industry and modern services,which is conducive to promoting the optimization and upgrading of manufacturing industry and providing important support for manufacturing.Based on the micro enterprise data,this paper uses markup to measure the competitive advantage of enterprises and products,and uses markup dispersion to measure the resource allocation efficiency within and among enterprises,and investigates the impact effect and channel mechanism of service-oriented manufacturing on China’s manufacturing enterprises,product competitive advantage and resource allocation efficiency.Firstly,based on the calculation of key variables,this paper analyzes the development status of service-oriented manufacturing,markup and resource allocation in China.From the perspective of input,China’s service-oriented manufacturing showed an overall upward trend from 2000 to 2014,and the service input level of technology and capital intensive manufacturing industry is higher.The domestic service input and traditional transportation services are the main sources driving the rise of China’s service-oriented manufacturing level.From the perspective of output,China’s service-oriented manufacturing shows a downward trend.The output level of embedded services with high product correlation with manufacturing enterprises is higher than that of mixed services,and the service-oriented manufacturing level of labor-intensive manufacturing is higher.Both service-oriented manufacturing of input and output are low,which are far from developed countries.From 2000 to 2013,the overall level of China’s enterprise markup shows an upward trend,the enterprise competitiveness is significantly strengthened,the product markup decreased significantly,and the export products urgently need to improve quality and efficiency to strengthen product competitiveness.From 2000 to 2013,China’s resource allocation efficiency improved significantly,but it is mainly concentrated in labor-intensive industries.The resource allocation efficiency of capital and technology intensive manufacturing industries are low,which hindered the transformation process of high-quality manufacturing development in China.Secondly,this paper examines the impact of service-oriented manufacturing on enterprise markup and its mechanism based on the calculation of service-oriented manufacturing and enterprises markup level in China from 2000 to 2013.From the aspects of cost effect and innovation effect,this paper expounds the nonlinear effect mechanism of service-oriented manufacturing affecting enterprise markup,then,proposes theoretical hypothesis and establishes an econometric model,.This paper uses the data of Chinese manufacturing enterprises for empirical test.The main findings are as follows:First,there is an inverted U-shaped relationship between service-oriented manufacturing and enterprise markup.China’s current manufacturing service input level is still on the left side of the inverted U-shaped curve,which mainly has a positive impact on enterprise markup.After changing the estimation method,considering the potential endogenous problems and eliminating the extreme values of key variables,the results are still robust;Second,for different types of service input,or distinguish the sample heterogeneity analysis,it is found that there are differences in the impact effects of manufacturing service affecting markup.Third,mechanism test results show that enterprise cost reduction and technological innovation are possible channels for manufacturing industry to invest in service-oriented and improve enterprise addition rate.Thirdly,this paper explores the impact and mechanism of service-oriented manufacturing on resource allocation efficiency from the perspective of service input,proposing research hypotheses according to the typical facts and the theoretical mechanism.This paper conducts an empirical analysis based on the dataset by matching the Chinese Industrial Enterprise Database and the World Input-Output Database(WIOD)from 2000 to 2013.The main findings are as follows: First,there is a nonlinear relationship between China’s service-oriented manufacturing and resource allocation efficiency.Specifically,service-oriented manufacturing significantly improves the efficiency of resource allocation at the early stage.But when it exceeds a certain threshold,this relation reverses.According to the calculation,the average value of service-oriented manufacturing is lower than the threshold during the sample period.Second,China’s service-oriented manufacturing significantly improves the resource allocation efficiency especially in the firms with no export behavior or at the low GVC position.The facilitating effect of domestic service input on resource allocation efficiency is significant.And the input of telecom and research & design has a long-run improvement on resource allocation efficiency,but the input of finance and business has a restricted effect on resource allocation efficiency to a certain extent,hence this situation needs to be changed through reform.Third,from the mechanism test results,service-oriented manufacturing is mainly affecting the resource allocation efficiency through marginal cost dispersion.Finally,this paper examines the impact of service-oriented manufacturing on the product markup of export enterprises and the resource allocation efficiency within enterprises from the perspective of service output.This paper selects China’s listed manufacturing companies from 2000 to 2013 as the research sample,and manually arranges the relevant data of service output in the main business of listed companies to measure service-oriented manufacturing,then,it matches the Chinese industrial enterprise database and customs database.This paper constructs an econometric model for empirical test based on characteristic fact analysis.The main findings are as follows: First,there is a significant positive U-shaped relationship between service-oriented manufacturing and product markup,that is,when the service output is lower than the established threshold,service-oriented manufacturing has a negative impact on the product markup.When the service output is higher than the threshold,service-oriented manufacturing is conducive to the improvement of product addition rate.Second,the improvement of China’s service-oriented manufacturing industry has significantly improved the export enterprises in small-scale and high-tech industries.There is a positive U-shaped relationship between embedded services and product markup.The improvement of mixed service output has a negative impact on product markup,enterprises should be guided to improve the level of embedded service output with high correlation with products when transforming to service-oriented manufacturing.Third,the mechanism test results show that the improvement of service output affects the product addition rate by affecting the marginal cost,management cost and executive salary of the enterprise,the adjustment effect of service-oriented manufacturing on non core products in the enterprise is more obvious,and the product markup is adjusted by the degree of product quality differentiation.Last,this paper uses the product markup dispersion to measure the resource allocation efficiency within the enterprise,and finds that the service-oriented manufacturing has a nonlinear relationship with the resource allocation efficiency in the enterprise.Specifically,The improvement of mixed service output is not conducive to the effective allocation of resources in the enterprise,service-oriented manufacturing reduces the efficiency of resource allocation in high-tech enterprises. |
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