【摘要】：在擴大國內(nèi)消費需求上,很多學(xué)者從消費的角度做了大量研究,尤其是針對居民消費問題,提出了很多有效的解決思路。但是,在擴大國內(nèi)消費需求的同時,我們也應(yīng)該看到國內(nèi)儲蓄率過高對經(jīng)濟增長的負面影響。事實上,居民儲蓄率過高正是導(dǎo)致居民消費需求不足的重要原因之一,而企業(yè)的高儲蓄率更是制約了經(jīng)濟社會的發(fā)展,進而影響到居民的消費需求。因此,研究企業(yè)的高儲蓄率問題,無疑對于激發(fā)企業(yè)活力,促進經(jīng)濟增長具有重要的作用。 對于儲蓄問題的研究,本文分別從宏觀部門和微觀企業(yè)兩個層面來分析我國的高儲蓄率問題。在宏觀層面,通過對我國宏觀三部門(即居民、政府、企業(yè))的儲蓄率的描述性統(tǒng)計分析,可以發(fā)現(xiàn)近年來企業(yè)儲蓄率呈現(xiàn)快速上升的趨勢,并且企業(yè)部門的儲蓄率,正趕上甚者超過居民部門的儲蓄率,這說明僅僅從居民的角度研究,不論是儲蓄問題還是消費問題都是不全面的。這也為下文專門針對我國企業(yè)的儲蓄率進行研究闡明了原因和意義。 對于企業(yè)儲蓄率的問題,文章從理論和實證兩個方面來進行研究。在理論方面,文章按照企業(yè)的所有制類型將企業(yè)分為國有企業(yè)和非國有企業(yè),使得對于我國高企業(yè)儲蓄問題的研究得以細化,即尋找出影響我國企業(yè)高儲蓄率的共性因素,也尋求我國不同類型企業(yè)的企業(yè)高儲蓄特點。而對于企業(yè)儲蓄率的實證研究,本文選取上市工業(yè)企業(yè)最近12年的數(shù)據(jù),選用平衡面板回歸模型對企業(yè)的儲蓄率因素進行實證分析,得出企業(yè)儲蓄率較高的原因在于我國企業(yè)所受的融資約束、營業(yè)收入的快速增長、企業(yè)的股權(quán)結(jié)構(gòu)的影響、企業(yè)所面臨的投資機會、生產(chǎn)要素價格特別是勞動工資成本長期偏低造成的。特別是對于國有企業(yè),主要是由于國有企業(yè)改革以來營業(yè)收入的快速增長、企業(yè)勞動工資成本長期偏低.國有企業(yè)的股權(quán)結(jié)構(gòu)和外部政策環(huán)境的影響如國有企業(yè)分紅少的政策造成的。
[Abstract]:In expanding domestic consumption demand, many scholars have done a lot of research from the perspective of consumption, especially in view of residents' consumption problems, put forward a lot of effective solutions. However, while expanding domestic consumption demand, we should also see the negative impact of high domestic savings rate on economic growth. In fact, the high saving rate of residents is one of the important reasons leading to the insufficient consumption demand of residents, and the high saving rate of enterprises restricts the development of economy and society, and then affects the consumption demand of residents. Therefore, the study of the high savings rate of enterprises undoubtedly plays an important role in stimulating the vitality of enterprises and promoting economic growth. For the study of savings, this paper analyzes the problem of high savings rate in China from two aspects of macro sector and micro enterprise. At the macro level, through the descriptive statistical analysis of the savings rate of the three macro sectors of our country (that is, residents, governments and enterprises), we can find that the enterprise savings rate has been rising rapidly in recent years, and the saving rate of the enterprise sector. It is in line with the savings rate of the household sector, which shows that the study of savings and consumption is incomplete from the perspective of the residents. This also explains the reasons and significance for the following research on the savings rate of Chinese enterprises. For the problem of enterprise savings rate, this paper studies it from two aspects: theoretical and empirical. In theory, the article divides enterprises into state-owned enterprises and non-state-owned enterprises according to the type of ownership of enterprises, which makes the research on the problem of high enterprise savings in our country more detailed, that is, to find out the common factors that affect the high savings rate of Chinese enterprises. We also seek the characteristics of high savings of different types of enterprises in our country. For the empirical study of corporate savings rate, this paper selects the data of listed industrial enterprises in the past 12 years, and chooses the balance panel regression model to analyze the factors of corporate savings rate. It is concluded that the reasons for the high enterprise savings rate lie in the financing constraints, the rapid growth of operating income, the influence of the ownership structure of the enterprise, the investment opportunities faced by the enterprises, Factors of production price, especially labor wage costs caused by a long-term low. Especially for state-owned enterprises, because of the rapid growth of operating income since the reform of state-owned enterprises, the labor wage cost of enterprises has been on the low side for a long time. The ownership structure of state-owned enterprises and the influence of external policy environment are caused by the state-owned enterprises with less dividends.
【學(xué)位授予單位】：天津財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.22;F224

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