The"Double-Decrease"Policy and the Performance of Education and Training Enterprises——Empirical Evidence from A-share Listed Companies
As an important part of the education market,the market size of education and training enterprises accounts for a large proportion of the education market size,and its development has a far-reaching impact on the education market.Based on this,this paper starts from the perspective of the integration of education reform policies and education training enterprises,and takes the"double-decrease"policy as a quasi-natural experiment to test the impact of the"double-decrease"policy on the performance of education training enterprises and its mecha-nism.The regression analysis shows that the"double-decrease"policy does have a significant negative impact on the short-term performance of education and training enterprises;the mechanism analysis shows that the"double-decrease"policy indirectly affects the performance of education and training enterprises through the mechanism of enterprise innovation and the mechanism of the enterprise's external environment;the heterogeneity analysis of the industry shows that the"double-decrease"policy has a greater negative impact on the performance of educa-tion and training enterprises in K12 subject than that of those in non-K12 subject.This paper is of reference signifi-cance for further understanding the transmission mechanism of the"double-decrease"policy impact on the per-formance of micro enterprises,as well as for education and training enterprises breaking through the predicament,achieving transformation and improving performance under the difficult situation.
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