The Effects Of Industrial Clusters On Listed Enterprises In Strategic Emerging Industries

After the financial crisis in 2008,many countries around the world regard the development of strategic emerging industries as a new economic growth point.And so does China.The cultivation and development of strategic emerging industries is of strategic importance for China's industrial restructure and economic growth.Industrial cluster is presently the major way to develop strategic emerging industries.Therefore,the study of strategic emerging industrial clusters is of great importance.The study of the relations of strategic emerging industrial clusters and productivity will help to find an effective method to improve the strategic emerging industry companies' productivity and promote the development of strategic emerging industries.In this paper,we focus on Listed Companies in strategic emerging industries and study the impact of industrial clusters on the productivity of Listed Companies in strategic emerging industries.First,we review the domestic and foreign research results on strategic emerging industrial clusters and productivity,make a conclusion about the theories,measurement methods and synergistic effects of the development of the strategic emerging industrial,and clarify the relationship between strategic emerging industrial clusters and productivity.Then,we analyze the development status of China's strategic emerging industries and point out five effects of industrial cluster on the productivity of strategic emerging industries.After that we do further analysis on the key factors of industrial cluster competition.Finally,we employ the panel data of Listed Companies of strategic emerging industries with three sorts of samples,which includes the overall,regional and ownership samples,to carry out regression analysis to verify our theoretical hypotheses about industrial clusters and the productivity of Listed Companies in strategic emerging industries.According to the theoretical and empirical research in this paper,we draw three major conclusions.First,industrial clusters could promote the productivity of Listed Companies in strategic emerging industries.If the agglomeration degree of strategic emerging industrial clusters increases by 1%,the productivity of Listed Companies within the cluster will be increased by 0.007%.Second,the productivity-promoting effect of industrial clusters is different for Listed Companies in different regions.Compared with the eastern coastal areas,industrial clusters' productivity-promoting effect is relatively more obvious in western regions.Third,for Listed Companies with different kind of ownership,productivity-promoting effect of industrial clusters also varies.The productivity-promoting effect of industrial clusters is greater on non-state-owned enterprises than on state-owned enterprises.This may be related to the development limitation and internal management of SOEs.Therefore,we put forward the following suggestions:strengthen the guidance of the government and actively develop strategic emerging industrial clusters;optimize the development environment of strategic emerging industrial clusters according to local conditions;accelerate the reform of SOEs and encourage the development of private enterprises in strategic emerging industries.