中文摘要：

本文使用1998—2007年间中国微观制造业企业面板数据,实证研究中国制造业企业利润来源及差异的决定机制。结果发现,从内部因素来看,全要素生产率越高、广告投入强度越高、人力资本越高、市场势力越强、产业单位活动数越多及更加注重新产品开发的企业有着更高的企业利润;相反,企业规模越大、年龄越长、资本密集度越高及销售与管理费用越高的企业却有着更低的企业利润;从外部因素来看,位于产业集中度越高行业、能够获得政府财政补贴及人均工资高的企业有着更高的企业利润,相反,有出口行为及税率高的企业却有着更低利润。外商投资企业利润最高,港澳台企业其次,民营企业再其次,国有企业最低。进一步发现,在不同所有制类型企业中,企业利润决定因素存在显著差异。这就充分说明,中国企业利润既来源于市场因素,也与转型背景中特殊政策和非市场化因素有着紧密关联。全面消除这些特殊且不合符市场规律的政策和非市场化因素,是维持中国企业利润可持续增长以及企业可持续发展的核心所在。

英文摘要：

This paper studies the sources and determining factors of profits made by Chinese manufacturers by using the panel data of Chinese micro-manufacturers from 1998—2007.According to the experiment,it turns out that from internal factors,those enterprises with higher TFP,input-intensity of advertisement,higher human capital,stronger market power,more industrial activities and higher priority of new product development make more enterprise profit;On the contrary,those enterprises with larger scale,longer age,higher capital intensity and higher expenses of sales and management tend to make less enterprise profit;From external factors,those enterprises ranked in higher industrial concentration,able to obtain government financial subsidy and with higher salary per capita gain more enterprise profit.Enterprises with export behavior and higher tax rate gain less enterprise profit.Foreign investment enterprises make the most profit,enterprises from Hong Kong,Macaw and Twain the second,private enterprises the third and state-owned enterprises the least.Among the different types of ownership,there exist significant differences between determinants of enterprise profit.