Research On Total Factor Productivity Of Strategic Emerging Industries And Its Influencing Factors In The Yangtze River Delta

At present,a new round of scientific and technological revolution and industrial reform is getting ready to go,strategic emerging industry has become a key to country's upgrading of industrial structure and seizing the commanding heights of the world economic development.China has responded to the world economic development trend,strived to develop the strategic emerging industries,promoted economic structure optimization and upgrading,and has achieved initial results.Strategic emerging industries are becoming the mainstay that maintain high-speed growth of China's economy and jump into the high-end level of the industry.But we must see that in the face of fierce international competition,developed countries want to seize the commanding heights of strategic emerging industries,take advantage of its leading global value chain division system,integrate global superior resources,enhance market control,try to monopolize the global market of strategic emerging industries,carry out "structural blockade" to our country,and compress China's industrial development space.The development of China's strategic emerging industries is facing a serious challenge that "high-end manufacturing supply shortage,low-end product overcapacity".However,as the railway engine of China's economic growth,the Yangtze River Delta has also appeared obvious resources,space and cost constraints at this stage,the development of strategic emerging industries has lagged behind the level of regional economic development,there are also problems that the industrial level and the production efficient are low.Therefore,to accelerate the transformation of the mode of development,and to change "manufacture" to"intellectual",has become the inevitable choice that strategic emerging industries try to achieve leaps and bounds and sustainable development in Yangtze River Delta.It can be seen that the change trend and the internal mechanism of the total factor productivity of strategic emerging industries in the Yangtze River Delta are the problems that we need to pay attention to in this background·This paper reviews and evaluates the domestic and foreign literatures of total factor productivity and reviews the theory of total factor productivity of strategic emerging industries,which lays the theoretical foundation for the selection of influencing factors.On this basis,this paper is based on the microscopic data of 110 listed companies of strategic emerging industries in the Yangtze River Delta,selects the cash paid to employees and for employees,fixed assets and main business income as measurement index,and use the DEA-Malmquist index method to carry out an empirical study on the dynamic trend of total factor productivity of strategic emerging industries in the Yangtze River.It is found that the trend of declining total factor productivity of strategic emerging industries in the Yangtze River Delta is due to the decrease of the technical efficiency level.The industry presents a low-end development trend with pure technical efficiency and scale efficiency.At the same time,the development of strategic emerging industries in the Yangtze River Delta exists regional heterogeneity and industry heterogeneity;110 listed companies have different growth methods.Then,according to the influence mechanism of the relevant influencing factors on total factor productivity in the theoretical basis of Chapter 2,the Tobit model is used to test the influencing factors of the total factor productivity of strategic emerging industries in the Yangtze River Delta.The results show that the low efficiency of government subsidies,the low overall quality of employees,and the low efficiency of technical equipment makes strategic emerging industries in the Yangtze River Delta present a low-end of development trend,which total factor productivity declines;enterprises which have moderate concentration of shareholding and higher growth rate are able to promote the improvement of productivity.Finally,according to the research of the whole paper,this paper puts forward the corresponding policy suggestions from the aspects of productivity promotion and influencing factors,so that the strategic emerging industries in the Yangtze River Delta can achieve high-end jumps with higher quality and higher efficiency.