The Construction of High-Standard Market System and Corporate Market Power:Evidence from the Practice of Standard Internationalization in China
In the context of advancing Chinese path to modernization through high-quality development,the impact of constructing the high-standard market system on corporate market power holds particular significance.Theoretical analysis based on the assumption of profit maximization suggests that as the high-standard market system being built,corporate market power in the product market will increase,while market power in the labor market will decrease.Empirically,this paper integrates information from national standard documents and data from listed companies from 2010 to 2021,using the example of standard internationalization to analyze the impact of high-standard market system construction on corporate market power.The empirical results confirm the theoretical analysis;the main reason is that changes in corporate decision-making logic lead to different changes in marginal costs and benefits;standard internationalization also narrows the gap in market power among enterprises within the same industry.Furthermore,beyond standard internationalization,the impact of high-standard market system construction on corporate market power remains valid,but attention must be paid to the issue of the quality level of standards.The conclusions of this paper not only provide a solid theoretical foundation for the argument that"the construction of high-standard market system contributes to the realization of Chinese modernization",but also highlight other issues that need attention during the construction process,such as changes in corporate market power across different markets.
NETL
NSTL
万方数据
