The Impact of Acquiring Control on Productivity
The Impact of Acquiring Control on Productivity
复制标题
获得控制权对生产力的影响
DOI：
10.2139/ssrn.642321
复制
发表时间：
2004
期刊：
影响因子：
--
通讯作者：
F. Pérez
中科院分区：
文献类型：
--
作者：
F. Pérez
关于控制权对效率重要性的实证研究受到实际的——假定是有效的——所有权模式的阻碍。找到正确的所有者不拥有正确资产的设置以及所有权任意改变的设置是具有挑战性的。在本文中，我的目的是克服这些问题，通过调查消除外国多数股权限制在墨西哥。具体而言，我研究了跨国公司附属公司的绩效，其中：(1)所有权限制在取消之前似乎具有约束力，(2)随着改革的实施，母公司所有权从少数增加到多数。利用详细的工厂级信息，我发现跨国公司控制导致全要素生产率的大幅提高，特别是在依赖母公司技术创新的行业。控制还与较高的投资有关- -特别是在技术密集的生产形式方面- -并与改善劳动力的技能状况有关。总的来说，我认为这些证据支持企业产权理论。
Empirical studies on the importance of control rights on efficiency are hindered by actual - presumably efficient - ownership patterns. Finding settings where the right owner does not own the right asset and where ownership arbitrarily changes is challenging. In this paper I aim at overcoming these problems by investigating the elimination of foreign majority ownership restrictions in Mexico. Specifically, I study the performance of affiliates of multinational corporations for which (1) ownership restrictions appeared to bind before they were lifted, and (2) parent ownership increased from minority to majority as the reform was implemented. Using detailed plant-level information, I find that multinational control leads to large improvements in total factor productivity, particularly in industries that rely on technological innovations from their parent companies. Control is also associated with higher investment - particularly in technology intensive forms of production - and with an improvement in the skill profile of the labor force. Overall, I interpret the evidence as supportive of the property rights theory of the firm.
影响因子：
2.2
作者：
WILLIAMSON, OE
通讯作者：
WILLIAMSON, OE
影响因子：
10.7
作者：
Aitken, BJ;Harrison, AE
通讯作者：
Harrison, AE