The Economies Of Scale And Economies Of Scope In China's Listed Construction Enterprises

With the continuous growth of the national economy,the construction industry has developed rapidly,and has grown into a pillar industry of the national economy.The total output value of China's construction industry has been maintained at a high level in GDP,of which the GDP of 2016 is 744127 yuan,while the total output value of construction industry is 193567 yuan,and the total output value of construction industry accounts for 26.01%of GDP.As a typical labor-intensive industry,the development of construction industry also has an impact on the level of national employment.With the continuous development of the construction industry,the construction industry practitioners are more and more,as of 2015,the national construction industry practitioners have reached 50 million 937 thousand people,accounting for 6.58%of the national employment(774 million 510 thousand).In addition,the construction industry chain in a wide range of industries,the continuous development of the construction industry led to the development of many other industries in the industry chain,including banks,intermediaries,building materials production and supply industry,decoration design,furniture,home appliances,etc..At present,China's construction enterprises generally scale assets,generally speaking,the scale of enterprises can bring economies of scale and scope economies,but the net assets return rate of construction enterprises is relatively low,and the enterprise operating capacity does not match the stock of resources.At present,the scale economy and scope economy of construction enterprises in our country still need to be further explored.In this paper,the domestic and foreign enterprises in different sectors of economies of scale and scope of Economic Research Based on the results,combined with the actual situation of China's listed construction enterprises,select the appropriate input and output indicators and generalized translog cost function model,building the economies of scale and scope measure model,and the construction industry in Shanghai and Shenzhen listed companies conducted empirical research as a sample.Specific research includes:(1)In view of the leading role of China's construction industry and the listed construction enterprises in China's construction industry,the paper analyzes the theoretical and practical significance of the scale economy and scope economy of listed construction enterprises in China,and puts forward the research objectives of this paper.(2)Analyze the domestic and foreign research on economies of scale and economies of scope in different industries,and according to economies of scale and economies of scope,put forward the theoretical basis for studying the economies of scale and economies of scope of listed construction enterprises in china.(3)Construct the Generalized Logarithmic cost function model of scale economies and scope economies of construction enterprises.By drawing on the results of empirical research on economies of scale and economies of scope in other industries,this paper attempts to construct a Generalized Logarithmic cost function model for economies of scale and economies of scope in construction enterprises.In the choice of indicators,the income of the construction industry and other industry income as output index,select the price of labor,fixed assets price,inventory cost as input indicators,construction of China's listed construction companies economies of scale and scope of the generalized translog cost function.(4)Empirical test of scale economy and scope economy of Listed Companies in China's construction industry.This paper selects the data of 91 listed construction companies in Shanghai and Shenzhen two cities in 2016 to do empirical research.The results show that there are economies of scale and diseconomies of scale in the listed companies of construction industry in China.Meanwhile,there are economies of scope and diseconomies of scope.But on the whole,the scale economy of listed construction enterprises in China is the majority,while the scope economy is relatively small.(5)According to the results of empirical research,this paper analyzes the existing problems of listed construction enterprises in China,and analyzes the causes of the corresponding problems,and then puts forward some suggestions and measures to solve the problems.The empirical research on scale economy and scope economy of construction enterprises is very rare at home and abroad.The research in this paper is exploratory in a certain sense.This paper constructs the construction enterprise of economy of scale and scope of the generalized translog cost function,and carries on the empirical research,which can provide a reference for decision making and business scale,make construction enterprises at the same time,also can make the construction industry for the government departments to provide some basis for industrial policy.However,the empirical research in this paper is limited to 91 listed construction companies in Shanghai and Shenzhen two cities,and only used the data in 2016.The reliability and universality of the conclusions have some limitations.The future research can be improved from the selection of variables,the improvement of quantitative methods,the selection of different function forms,the expansion of business scope,and the expansion of sample data,so as to promote the academic development and application of this field.