部分私有化和智力资本:企业国际化和区域发展的调节作用
1School of Continuing and Lifelong Education, National University of Singapore, Singapore.
PloS one
|January 23, 2026
概括
部分私有化增强了知识资本,但国际化可能会削弱这一效应. 然而,区域发展扩大了私有化对新兴市场企业的好处.
科学领域:
- 商业和经济学 商业和经济学
- 企业金融公司财务
- 新兴市场 新兴市场
背景情况:
- 部分私有化是新兴经济体的重要企业战略.
- 知识资本是企业价值和竞争优势的关键驱动力.
- 了解私有化,国际化和区域因素之间的相互作用对于企业战略至关重要.
研究的目的:
- 调查部分私有化对知识资本的影响.
- 检查企业国际化和区域发展的调节作用.
- 为私有化产生的价值创造机会提供见解.
主要方法:
- 作为基线的普通最小平方 (OLS) 回归.
- 时间的通用化方法 (GMM) 和倾向分数匹配 (PSM) 用于稳定性检查.
- 对2010-2023年中国上市公司的分析.
主要成果:
- 部分私有化对知识资本产生了积极影响.
- 企业国际化削弱了部分私有化的积极影响.
- 区域发展加强了部分私有化和智力资本之间的积极关系.
结论:
- 部分私有化提供了创造价值的机会,但需要仔细管理国际化风险.
- 发达地区的企业更有能力利用私有化带来的好处.
- 调查结果对新兴市场的企业效率有重大政策影响.
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