统计研究 ›› 2023, Vol. 40 ›› Issue (2): 132-144.doi: 10.19343/j.cnki.11–1302/c.2023.02.010

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我国城市禁烟法令与公司全要素生产率——基于准自然实验的研究

陈胜蓝 王鹏程   

  • 出版日期:2023-02-25 发布日期:2023-02-25

Chinese Smoking Bans Legislation and Corporate Total Factor Productivity: Evidence from Quasi-Natural Experiments

Chen Shenglan Wang Pengcheng   

  • Online:2023-02-25 Published:2023-02-25

摘要: 人民健康是经济发展与繁荣的前提条件。本文以我国资本市场2003—2019年上市公司为研究样本,手工整理上市公司所在城市颁布以及进一步修订禁烟法令的具体时间,利用我国城市禁烟法令颁布对员工工作环境产生的外生变化来考察其如何影响公司的全要素生产率。借助我国城市禁烟法令颁布在时间和空间上错列发生的特征构建准自然实验情境,本文使用双重差分方法的检验结果表明禁烟法令的颁布能够促使公司全要素生产率提高。研究发现,工作环境改善所带来的劳动生产率提高、人力资本以及公司创新能力的提升是禁烟法令颁布提高公司全要素生产率的重要渠道。进一步分析发现,对于劳动密集程度较高、融资约束较大以及非产业政策重点支持的公司,禁烟法令的颁布使得公司全要素生产率有较大提升。本文研究不仅为公司全要素生产率的影响因素问题提供了新的解释视角,还对理解我国城市禁烟法令颁布的经济效应具有一定的启示。

关键词: 禁烟法令, 全要素生产率, 准自然实验

Abstract: Health is a precondition for economic development and prosperity. This paper takes the listed companies in Chinese capital market from 2003 to 2019 as the research sample, manually collates the specific time when the cities where the listed companies are located promulgated and further revised the Smoking Bans Legislation (SBL), and examines how the exogenous changes of the working environment caused by the promulgation of SBL in China affect the corporate total factor productivity (TFP). Building a quasi-natural experiment based on the staggered promulgation of SBL, the results of difference-in-differences method suggest that the promulgation of SBL increases the TFP significantly. Moreover, the improvement of labor productivity, human capital and the corporate innovation ability are important channels. Further tests suggest that for the corporations with higher labor intensity, larger financing constraints and non-key supporting industries of industrial policies, the SBL resulted in more TFP increase. This paper not only provides a new perspective to explain the influence factors of TFP, but also shed light on how to understand the economic effect of the promulgation of SBL in Chinese cites.

Key words: Smoking Bans Legislation, Total Factor Productivity, Quasi-Natural Experiment