本文以中国轿车行业为例,研究了合资模式对市场势力来源的影响。我们首先构建纵向差异化模型对2001—2009年中国轿车行业276个车型的市场势力进行估计,并使用数据包络分析测算40个轿车厂商的效率高低,在此基础上分析两者之间的相互关系。本文发现:(1)中国轿车行业的平均市场势力高达0.304,与已有文献对其它行业市场势力的估计结果相比,这属于一个较高的值;(2)合资企业的平均市场势力为0.406,显著高于本土企业的平均市场势力0.085;(3)合资企业的市场势力与效率的关系不显著,即满足“安逸生活假设(Hicks,1935)”,而本土企业的市场势力与效率显著正相关,即满足“效率结构假设(Demsetz,1973)”。这意味着合资企业的市场势力主要来自合谋或产品差异化,而本土企业的市场势力主要来自效率提高。
This paper employs a vertical product differentiation model to estimate the market power of 276 car model in Chinese automobile industry from year 2001 to 2009. It calculates the efficiency of 40 automakers by data envelopment analysis. Then the relationship between market power and efficiency is tested, it is found that ( 1 ) the average market power of Chinese automobile industry is 0. 304, significantly higher than other indus- tries estimated by previous literatures ; (2) the average market power of Sino - foreign joint ventures is O. 406, higher than local firms which is 0. 085 ; (3) Sino - foreign joint venture's market power is uncorrelated with its efficiency, which is consistent with "the quiet life hypothesis (Hicks, 1935 )", while local firm's market power is significantly positively related with its efficiency, which implies "the efficient structure hypothesis ( Demsetz, 1973 ) ". This means the source of Sino - foreign joint venture's market power is collusion among firms or differ- entiation of products, while local firm's market power comes mainly from efficiency improvement.