本文選題：涉海企業(yè) + 政治關聯(lián)　； 參考：《廣東海洋大學》2017年碩士論文

【摘要】：我國處在經(jīng)濟轉(zhuǎn)型期,各項制度不完善導致政治關聯(lián)作為一種非正式制度受到企業(yè)的青睞。企業(yè)政治關聯(lián)現(xiàn)象在我國普遍存在,政治關聯(lián)對企業(yè)價值的影響成為學術界關注的熱點。作為我國經(jīng)濟發(fā)展的重要戰(zhàn)略,促進海洋經(jīng)濟快速發(fā)展日漸重要。在此大趨勢下,涉海企業(yè)的作用日益顯著,逐漸成為推動海洋經(jīng)濟發(fā)展的主要因素。而涉海企業(yè)由于其存在巨額投資的高風險性和對公共海洋資源的高依賴性,涉海企業(yè)對構建政治關聯(lián)的欲望比一般企業(yè)更為強烈,這是因為政治關聯(lián)可能會影響其績效。研究政治關聯(lián)與涉海企業(yè)的政府補助及企業(yè)績效的關系能為我國涉海企業(yè)制定企業(yè)戰(zhàn)略,促進海洋產(chǎn)業(yè)發(fā)展起到一定借鑒作用。本文以社會資本論、父愛理論、尋租理論、政府目標理論等為基礎,分析政治關聯(lián)影響企業(yè)績效的內(nèi)在機制。關于政治關聯(lián)對企業(yè)的影響,根據(jù)社會資本理論與尋租理論,政治關聯(lián)有可能使企業(yè)更容易獲取一些有利于企業(yè)發(fā)展的資源,如銀行貸款、政府補助、稅收優(yōu)惠等;但企業(yè)會因此付出一定的尋租成本。尋租成本與因此而獲得的收益之間的關系決定著政治關聯(lián)是否對企業(yè)績效產(chǎn)生正面作用。梳理總結(jié)以往對這個問題的研究成果,發(fā)現(xiàn)學者對于政治關聯(lián)對企業(yè)的影響的觀點并不一致,也沒有針對涉海產(chǎn)業(yè)類的研究。根據(jù)理論分析提出兩個合理的研究假設,以我國2010—2015年涉海上市公司的高管相關資料與公司財務數(shù)據(jù)與政府補助數(shù)據(jù)為樣本進行實證分析,驗證政治關聯(lián)、政府補助、與企業(yè)績效的關系。最后根據(jù)理論分析與實證結(jié)果,給出相應的政策建議。實證結(jié)果顯示,涉海企業(yè)整體政治關聯(lián)度高于一般企業(yè),并呈現(xiàn)出上升趨勢;涉海企業(yè)政治關聯(lián)與政府補助無明顯關系;政治關聯(lián)度與涉海企業(yè)績效呈倒U形關系,即在一定范圍內(nèi)的政治關聯(lián)可以提高企業(yè)績效,但過高的政治關聯(lián)度會成為公司發(fā)展的負擔;國有涉海企業(yè)與民營涉海企業(yè)政治關聯(lián)的效果差別大;國有企業(yè)占據(jù)壟斷地位,行業(yè)準入門檻高,但國有涉海公司因過高的政治關聯(lián)負擔沉重。政策建議是,發(fā)揮政府的引導作用,完善監(jiān)督機制,建立健全信息披露機制,對政府和企業(yè)間的尋租行為進行合理控制,完善制度環(huán)境建設,繼續(xù)推進市場化改革,為涉海企業(yè)營造良好的外部環(huán)境,為海洋產(chǎn)業(yè)發(fā)展設立專項基金,引入民間資本,作為企業(yè)要努力通過生產(chǎn)性行為獲得市場上的競爭優(yōu)勢。本文提供了新的研究視角,也為涉海企業(yè)以及整個海洋經(jīng)濟的發(fā)展提供意見參考。
[Abstract]:Our country is in the economic transition period, each system is imperfect, the political connection is favored by the enterprise as an informal institution. The phenomenon of corporate political association exists generally in our country, and the influence of political association on enterprise value has become a hot spot in academic circles. As an important strategy of China's economic development, it is increasingly important to promote the rapid development of marine economy. In this trend, the role of sea-related enterprises has become increasingly prominent, gradually becoming the main factor to promote the development of marine economy. Because of the high risk of huge investment and the high dependence on public marine resources, the enterprises involved in the sea have a stronger desire to establish political connections than other enterprises, because political association may affect their performance. The study of the relationship between the political connection and the government subsidy and the performance of the enterprises involved in the sea can serve as a reference for the Chinese enterprises involved in the sea to formulate the enterprise strategy and promote the development of the marine industry. Based on the theories of social capital, fatherly love, rent-seeking and government goal, this paper analyzes the internal mechanism of the influence of political connection on enterprise performance. According to the theory of social capital and rent-seeking, political association may make it easier for enterprises to obtain some favorable resources, such as bank loans, government subsidies, tax concessions and so on. But the enterprise can pay certain rent-seeking cost accordingly. The relationship between the rent-seeking cost and the resulting income determines whether the political connection has a positive effect on the firm's performance. Combing and summarizing the previous research results on this issue, it is found that scholars' views on the impact of political association on enterprises are not consistent, and there is no research on the industry category related to the sea. According to the theoretical analysis, two reasonable research hypotheses are put forward. The empirical analysis is based on the relevant data of senior executives, financial data and government subsidy data of listed companies in China from 2010 to 2015, to verify the political connection and government subsidy. Relationship with corporate performance. Finally, according to the theoretical analysis and empirical results, the corresponding policy recommendations are given. The empirical results show that the overall degree of political correlation of enterprises involved in sea is higher than that of ordinary enterprises, and shows an upward trend; there is no obvious relationship between political connections of enterprises involved in sea and government subsidies; the degree of political correlation is inversely U-shaped relationship with the performance of enterprises involved in sea. That is, within a certain range of political connections can improve the performance of enterprises, but too high the degree of political correlation will become a burden for the development of companies; state-owned enterprises and private enterprises involved in sea enterprises have a large difference in the effect of political connections; state-owned enterprises occupy a monopoly position. Industry entry threshold is high, but the state-owned sea-related companies because of excessive political ties heavy burden. The policy recommendations are to give full play to the guiding role of the government, to improve the supervision mechanism, to establish and improve the information disclosure mechanism, to exercise reasonable control over rent-seeking behavior between the government and enterprises, to improve the institutional environment, and to continue to promote market-oriented reform. To create a good external environment for the enterprises involved in the sea, to set up a special fund for the development of marine industry, to introduce private capital, as an enterprise to strive to gain the competitive advantage in the market through productive behavior. This paper provides a new perspective for the development of sea-related enterprises and the whole marine economy.
【學位授予單位】：廣東海洋大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：P74

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