The Influence Mechanism Of The Establishment Of Free Trade Zone On China’s Listed Logistics Enterprises

Facing the changeable process of globalization,the construct of FTZ really lead to formidable influence on the magnificent of China’s open economy.We calculate information of logistics companies which on the A-shares market and the situation of prefecture level cities from 2010 to 2018.We explore the relationship between the construction of FTZ and China’s trade logistics companies which on the A-shares market by using DID model,stepwise regression method and Bootstrap method.These companies’ efficacy keeps firm enhance on average.However,in different regions and sub industries,the same situation does not exist.Using DID model to study the relationship between the establishment of FTZ and logistics enterprises,we find they have a legible causal relationship.And it passed Tobit model test and counterfactual test.So the conclusion is relatively stable.For inconsistent performance in different space,since geographical location and previous situation are different,the performance is inconsistent.The eastern part has better significance,but the western part does not show the same significance.In the industry analysis,different industries such as roads and railways transport have a distinct relationship with FTZ,but not a striking impact on the air transport and handling industries.We analysis mediating effect between FTZ and logistics companies.The construction of FTZ affect the logistics enterprises through four mediating variables:regional economic level,foreign trade,logistics infrastructure and human resource quality.The effects are 33.19%,11.05%,15.78%and 5.52%respectively.In the eastern province,four mediating effects are significant.In the central province,two mediating effects are significant.And none in the western province.