Calculation and Influencing Factors of Capacity Utilization of Equipment Manufacturing Industry in the Yangtze River Economic Belt: From the Perspective of Enterprise Heterogeneity

Abstract

Abstract: Resolving overcapacity and improving capacity utilization are the primary tasks of China's industrial economic structure transformation and upgrading. Based on the database of Chinese industrial enterprises from 1998 to 2013, this paper calculates the capacity utilization of equipment manufacturing industry in the Yangtze River Economic Belt by using the transcendental logarithmic cost function method, and explores the influencing factors of capacity utilization and its heterogeneity from theoretical and empirical perspectives. The findings are as follows. Firstly, the capacity utilization of the equipment manufacturing industry in the Yangtze River Economic Belt has phased characteristics, and its fluctuation trend is basically consistent with the economic cycle. Compared with industry and ownership levels, the problem of overcapacity appears more at the regional level. Secondly, variable input factor prices dominate the overcapacity of equipment manufacturing industry in the Yangtze River Economic Belt. In addition, technological progress and market regulation have a positive effect on capacity utilization, and government intervention has a negative effect on capacity utilization. Thirdly, government intervention weakens the positive effect of market regulation on capacity utilization, and the impact of the government and the market on capacity utilization shows a marginal decreasing effect. Finally, the impact of various factors on capacity utilization is subject to multiple constraints of regional, ownership, and industry heterogeneity, with obvious structural characteristics.

Key words: equipment manufacturing industry, capacity utilization, influencing factors, heterogeneity analysis

Deng Shicheng, Wu Yuming, Xu Jifang. Calculation and Influencing Factors of Capacity Utilization of Equipment Manufacturing Industry in the Yangtze River Economic Belt: From the Perspective of Enterprise Heterogeneity[J]. Management Review, 2024, 36(1): 53-70.

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