【摘要】：資本市場和宏觀經(jīng)濟的關系是金融領域研究的重要問題之一。西部大開發(fā)十多年來，西部地區(qū)的平均經(jīng)濟增速超過全國平均水平，上市公司對區(qū)域經(jīng)濟的拉動作用和特征是本文的主要研究目的所在。本文主要從總產(chǎn)出角度研究西部上市公司和宏觀經(jīng)濟的關系。從計算上市公司總產(chǎn)出貢獻值入手，將上市公司和宏觀經(jīng)濟的研究建立在統(tǒng)一的概念基礎上，通過計算上市公司產(chǎn)出占比和產(chǎn)出拉動速度的指標研究上市公司產(chǎn)出和區(qū)域總產(chǎn)出之間的關系。分別從區(qū)域、行業(yè)和時間三個維度對西部上市公司拉動區(qū)域經(jīng)濟的特征展開比較研究。 區(qū)域比較研究結果顯示，西部地區(qū)上市公司對區(qū)域經(jīng)濟的拉動規(guī)模和拉動速度相比其他主體功能區(qū)相對較�。晃鞑块_發(fā)重要政策推出的年份西部上市公司產(chǎn)出拉動的短期政策效應較為明顯；東部和其他主體功能區(qū)上市公司產(chǎn)出占比之間的差距在2005年之后明顯拉大；西部和中部以及東北上市公司對于區(qū)域經(jīng)濟的拉動速度差異明顯收斂；西部各省區(qū)上市公司對區(qū)域經(jīng)濟增長的拉動作用明顯且推動了上市公司在省區(qū)內產(chǎn)出占比的提高；西部各省區(qū)拉動作用在2005年后進入快速拉動階段；西部各省區(qū)產(chǎn)出占比和拉動速度的波動性呈現(xiàn)出和省區(qū)總產(chǎn)出大小的負相關關系。 行業(yè)比較研究結果顯示，1999-2011年西部地區(qū)的優(yōu)勢產(chǎn)業(yè)為金屬非金屬制造業(yè)、食品飲料業(yè)；其中食品飲料業(yè)長期保持了西部地區(qū)相對于其他區(qū)域的優(yōu)勢行業(yè)。在西部地區(qū)產(chǎn)出占比最大的金屬非金屬制造業(yè)相比其他區(qū)域不具備優(yōu)勢；不同時間段內西部上市公司中的優(yōu)勢行業(yè)變化明顯，，西部各省區(qū)2005-2011年與1999-2004年相比，各省區(qū)的優(yōu)勢行業(yè)明顯增加，而且作為西部優(yōu)勢行業(yè)的分布省區(qū)也出現(xiàn)明顯增加。對于西部經(jīng)濟的拉動作用比較明顯。西部各省區(qū)上市公司行業(yè)分布差異較大。其中四川省最多，青海、西藏等省區(qū)行業(yè)分布最少。西部地區(qū)在1999-2011年間的優(yōu)勢行業(yè)食品飲料業(yè)發(fā)揮優(yōu)勢的主要省區(qū)在：貴州、四川和新疆。金屬非金屬制造業(yè)發(fā)揮優(yōu)勢的主要省區(qū)在：甘肅、廣西、內蒙、寧夏、新疆、云南和重慶這六個省區(qū)。
[Abstract]:The relationship between capital market and macro-economy is one of the important problems in the field of finance. In the past ten years, the average economic growth rate in the western region has exceeded the national average level. The main purpose of this paper is the pulling effect and characteristics of the listed companies on the regional economy. This paper mainly studies the relationship between western listed companies and macro-economy from the angle of total output. Starting with the calculation of the total output contribution of listed companies, the research on listed companies and macro-economy is based on a unified concept. The relationship between output and regional total output of listed companies is studied by calculating the ratio of output to output and the speed of output pulling. From the three dimensions of region, industry and time, this paper makes a comparative study on the characteristics of the western listed companies to pull the regional economy. The results of the regional comparative study show that the scale and speed of the listed companies in the western region to pull the regional economy is relatively small compared with the other main function areas; In the year of the important policy of western development, the short-term policy effect of the output pull of the western listed companies is obvious, the gap between the eastern and other main function areas of the listed companies' output ratio has widened obviously after 2005; The difference of the pulling speed of the listed companies in the west, the middle and the northeast of China to the regional economy converges obviously, and the listed companies in the western provinces and regions play an important role in the regional economic growth and promote the increase of the output of the listed companies in the provinces and regions. The pulling effect of the western provinces and regions entered the stage of rapid pulling after 2005, and the volatility of the output ratio and the pull speed of the western provinces and regions showed a negative correlation with the total output size of the provinces and autonomous regions. The results of industry comparison show that the dominant industries in the western region from 1999 to 2011 are metal non-metal manufacturing and food and beverage industry, among which the food and beverage industry has maintained the advantage of the western region compared with other regions for a long time. The metal nonmetallic manufacturing industry, which accounts for the largest proportion of output in the western region, has no advantage compared with other regions, and the dominant industries in the listed companies in the western region have obvious changes in different time periods, compared with the period of 1999-2004 between 2005-2011 and 1999-2004 in the western provinces and regions. The predominance industries of provinces and regions increased obviously, and the distribution of predominance industries in western China also increased obviously. To the western economy's pull effect is quite obvious. The distribution of listed companies in western provinces and regions is quite different. Among them Sichuan province is the most, Qinghai, Tibet and other provinces and regions industry distribution is the least. In 1999-2011, the main provinces in the western region were Guizhou, Sichuan and Xinjiang. The main provinces of non-metal manufacturing are Gansu, Guangxi, Inner Mongolia, Ningxia, Xinjiang, Yunnan and Chongqing.
【學位授予單位】：新疆財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F127;F279.27

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