Study On The Mechanism Of International Capacity Cooperation Decision-Making On Enterprise Productivity From Th Perspective Of Capacity Utilization Rate

With the implementation of the strategy of "one belt and one road",international capacity cooperation has gradually become a new way for Chinese enterprises to solve overcapacity,improve business conditions and improve their productivity.Therefore,it is of great practical significance to explore whether enterprises with excess capacity can actively choose international capacity cooperation from the perpective of capacity utilization rate,and whether they can enhance their own productivity through international capacity cooperation.Through empirical research,this paper objectively analyses the role of capacity utilization rate in international capacity cooperation decision-making on enterprise productivity mechanism.Firstly,this paper uses Stochastic Frontier Production Function(SFA)and Semi-parametric Estimation(LP)to measure the micro productivity utilization and total factor productivity of listed enterprises in China from 2014 to 2016,and classifies the samples according to the mode of productivity cooperation.The results show that the productivity utilization and total factor productivity of capacity cooperative enterprises are higher than those of non-capacity cooperative enterprises.Secondly,on the basis of the calculation results,a binary discrete selection model is constructed to explore the impact of excess capacity,i.e.capacity utilization ratio,on the decision-making of international capacity cooperation.That is,whether enterprises with excess capacity can cross high trade costs,transfer excess capacity by participating in international capacity cooperation,and divide international capacity cooperation into export trade,foreign direct investment and external undertaking.Contract engineering is used to analyze the impact of productivity utilization on the decision-making transformation of international productivity cooperation.Empirical results show that the increase of productivity utilization rate has a positive effect on the international productivity cooperation of enterprises,that is,enterprises with excess capacity will not actively choose to cooperate in productivity to a large extent,and with the increase of productivity utilization rate,enterprises will change from export trade to foreign direct investment and foreign contracted projects.Secondly,based on the conclusion that productivity utilization can affect the decision-making of international productivity cooperation,this paper continues to explore the impact of international productivity cooperation decision-making on enterprise productivity by using the dual difference model of propensity score matching,and also divides international productivity cooperation into specific categories to compare and analyze the impact of different international productivity cooperation decision-making on Enterprise productivity.Finally,the threshold effect model is constructed to analyze the threshold effect of international capacity cooperation decision-making on enterprise productivity based on capacity utilization,and to explore whether capacity utilization plays a role in the impact mechanism of international capacity cooperation decision-making on enterprise productivity.The empirical results show that international productivity cooperation has a positive effect on enterprise productivity,and the productivity effect of this kind of productivity cooperation is mainly reflected in the mode of productivity cooperation of foreign direct investment,and shows an upward trend with the passage of years.Compared with foreign contracted projects,export trade has no obvious promotion effect.At the same time,the threshold effect of productivity utilization does exist,and shows a Kuznets inverted ?U? structure under different thresholds.That is,when productivity utilization level is low,the promotion effect of international productivity cooperation on enterprise productivity is not obvious.When productivity utilization rate exceeds the first threshold,the promotion effect on productivity is gradually reflected.At this time,the participation of enterprises in international capacity cooperation can significantly improve productivity,but when the productivity utilization rate is higher than the second threshold,the promotion effect begins to decline.Therefore,the policy conclusion of this paper is that enterprises with serious excess capacity,i.e.low utilization rate of capacity,can not transfer excess capacity and improve their operating conditions by participating in international capacity cooperation,so as to enhance their productivity.Therefore,in order to promote enterprises to actively and spontaneously choose international capacity cooperation and improve their production efficiency,we should put forward targeted policies and measures from two aspects: how to remove capacity and pr omote international capacity cooperation,increase the R&D investment funds of enterprises,improve their financing environment,enable them to cross the high trade costs required by capacity cooperation,and then improve self-productivity through international capacity cooperation.