Whether the capital input is the use of assets,fixed assets or capital,and the capital return has a significant impact on the calculation of total factor productivity.This article studies the main proxy variables of capital investment in the academic community,and believes that the selection of proxy variables for capital investment should return to the original meaning of capital and use capital flow values.The cash flow statement of a company provides accounting results for the current flows of capital input,labor input,and output.After using the current flow indicators,the calculation caliber of the main variables of total factor productivity can be unified as the current flow based on cash flow accounting,and the measurement unit can be unified as the monetary value.The calculation results of total factor productivity based on a unified accounting system can achieve the comparability between different studies.The practical significance of this research conclusion is to unify the calculation methods of total factor productivity for enterprises,industries,regions,and countries.On the other hand,the total factor productivity values and their changes based on regularly disclosed accounting results can be directly used to guide practical work in various economic fields.
capital inputcapital stockcapital flowtotal factor productivity
万方数据
维普
