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在中国特色社会主义市场经济体制下,进入后能否全身而退一直是困扰企业的一个重要问题。除规模、契约等天然因素外,因投资人不同而造成的人为差异也不容忽视。本文旨在探讨这一问题,运用1999年~2008年期间中国企业层面的微观数据展开分析,得出两个方面的结论:(1)退出壁垒从高到底依次为外商投资企业、港澳台投资企业、私有企业、国有企业与集体企业,其中集体企业在短期内比国有企业退出壁垒高,但是在长期比国有企业低;(2)退出壁垒可以提高该行业整体行业的企业效率。
Under the socialist market economy with Chinese characteristics, it has always been an important issue that plagues enterprises after its entry into the country. In addition to the scale, the contract and other natural factors, due to different investors caused by human differences can not be ignored. This paper aims to explore this issue, using the micro-data from the Chinese firm level from 1999 to 2008 to analyze and draw two conclusions: (1) exit barriers are, in descending order, foreign-invested enterprises, Hong Kong, Maucais and Taiwan-invested enterprises , Private-owned enterprises, state-owned enterprises and collective enterprises. Among them, collective enterprises have higher exit barriers than state-owned enterprises in the short term, but lower than state-owned enterprises in the long run; (2) Exit barriers can increase the overall efficiency of enterprises in the industry.