In a feature pattern in the first issue of 2016, the Journal of Marco Quality Research integrated and published the important research achievements of many major social hot issues like the profitability analysis of zombie enterprise and Chinese manufacturing enterprise; urbanization fusion of migrant workers, cooperation and communication ability and labor productivity, investment in human capital, etc.
The Mystery of Zombies: An Empirical Study from a Microscopic Perspective：Evidence from China Employer-Employee Survey (CEES)
Cheng Hong and Hu Dezhuang
（Institute of Quality Development Strategy，Wuhan University;Coordination Innovation Center of Macro Quality Management in Hubei Province）
Abstract: Zombie firms could distort the competition, destroy the innovative destruction, and induce systematic risks of the economy. Exploring the mechanism of how zombie firms come into being from the micro prospective would contribute to clearing them away, thus promoting the economic growth quality of China in new normal. This paper conducted an empirical study on the mystery of zombies from the microscopic perspective by employing China Employer Employee Survey (CEES) dataset in 2015. Based on the result of Propensity Score Match (PSM), it is found that zombie firms are significantly lower than non-zombie firms in product quality capability, technological innovation capability and entrepreneurships. The Average Treatment Effects (ATE) are between -8.3%~-7.2%, -16.3%~-11.2% and -26.9%~-20.6% respectively, complying with the requirement of causal effect, which manifests that the inner factors are the inevitable causes of zombie firms, apart from fiscal subsidy and financial rescue. Therefore, it is suggested that in order to eliminate zombie firms, great attention should be paid to enterprises’ inner factors. Concretely speaking, the government should help to create an equal market to promote the inner motivation of quality innovation, to enhance input in technological innovation to accelerate the product renewing, and to nurture productive and innovative entrepreneurship by market mechanism.
The Analysis and Explanation of the Profitability Status of China’s Manufacturing Enterprises: Empirical Research Using the CEES Data
Luo Lianfa and Han Xiao
（Institute of Quality Development Strategy，Wuhan University;Coordination Innovation Center of Macro Quality Management in Hubei Province）
Abstract:This paper analyzes the profitability and influencing factors of manufacturing enterprises, making use of the first-hand CEES data. Based on the theory of profitability analysis, the paper researches the status of the enterprises’ profitability and how the factors like market structure, government regulation, enterprise characteristics, et al. The results show that the government regulation results in high profit, but it will do harm to the operation efficiency; in the more comparative industries, the effects of the technology innovation to profitability differentiates according the regulation strength: in the weak regulation industries, the R&D investment is significantly positive to profitability, while in the strong regulation industries, its effect is significantly negative. The enterprises’ characteristics, such as product quality, human capital have significantly positive effect to both profit rate and profit growth rate. Hence, the suggestion of this paper is that, weakening the regulation to the market, improve the market competitiveness of enterprises. Changing the growth model of enterprises from the “monopoly rents” to competiveness promotion.
Human Capital Investment: Enterprise Strategic Choice Under the Perception of Institutional Environment
Yu Fan and Wang Chu
(Institute of Quality Development and Strategy, Wuhan University;Coordination Innovation Center of Macro Quality Management in Hubei Province)
Abstract:Under the economic pressure of labor dividends disappearance and the excess capacity, which strategic choice of investment enterprises will choose is one of the hot issues worth studying in the face of inadequate institutional property and finance environment. The paper uses six aspects of enterprise subjective evaluation data that include means of financing, market demand, innovation, intellectual property protection, land, government regulation and approval to build the institutional environment perception index system. The paper applies OLS regression estimation, instrumental variables (IV) estimation and limited information maximum likelihood estimation method (LIML) empirically analyses the correlation of institutional environment perception and human capital. The empirical results show that there is a significant positive causal effect between the institutional environment perception and human capital. The greater the perceived barriers of institutional environment for the development enterprises have, the more they would choose to invest in human capital. Based on this conclusion, the paper suggests that the government should put in more efforts on the institutional environment construction with property and finance at the core. The government should also pay more attention to infrastructure construction with vocational and technical education at the core. It’s also needed to increase preferential policies for small and micro enterprises as the main target of the special training.
The Urban Integration of Peasant-Workers,Cooperation and Communication Ability,Labor Productivity Evidence from 2015
China
Employer-Employee Survey (CEES)
Li Tang and Ning Lu
（Institute of Quality Development Strategy，Wuhan University;Coordination Innovation Center of Macro Quality Management in Hubei Province）
Abstract:The urbanization of peasant-workers is the most powerful engine for the potential of domestic demand and the development of the society inChina. There are some articles that have positive impact on the influence factors of the urbanization of peasant-workers and job performance, but now, few of articles have researched the relation between the urbanization and other varieties in terms of some mechanisms. This text is based on the data of CEES in 2005, and apply the methods of valuation of OLS, 2SLS and LIML to analyze the specific capital influence in the integration of the urbanization of peasant-workers and in the effect of the stability of the labor productivity using the cooperative communication to the staff. The results turn to be that: the fusion of the urbanization of peasant-workers has a positive promotion in the specific human capital of the cooperate communication, the specific human capital has a steady positive correlation to the productivity of the staff, thus leading to the positive influence of the fusion of the urbanization of the peasant-workers to the labor productivity. This article verifies the impact of the fusion of the urbanization of peasant-workers to the job performance, the empirical relation above satisfies the statistic needs of the causal reasoning. Based on the result above, the suggestion is that the government should focus on rising the peasant-workers’ willing of the inhabitation and the standard civil to accelerate the process of new type urbanization, besides, the government also should promote the formation of the specific human capital to elevate the labor productivity.