Marshallian Sources of Relatedness and Their Effects on Firm Survival and Subsequent Success in China
利用中国大型企业面板数据，研究技术关联性对企业生存、利润和生产率的影响，发现共聚的关联企业表现更优，并验证了马歇尔集聚理论中降低货物、人员和思想流动成本的机制，但所有权结构（如全私有企业更受益）起调节作用。
Relying on a large panel of Chinese firms, this article attempts to investigate the effects of technological relatedness on firm survival and subsequent success (e.g., profits and productivity). The results show that related establishments that colocate together outperform their counterparts located elsewhere, although it is not clear whether these findings are due to the presence of externalities or alternative explanations. To explore this issue, several proxies for the Marshallian sources of relatedness are further developed to better reveal the underlying mechanisms that drive relatedness. The findings show that technological proximity helps to respectively reduce the costs of moving goods, people, and ideas, thus providing strong support for Marshallian theories of agglomeration. The ownership structure of the firm matters, however. Specifically, wholly privately owned enterprises are more successful than firms where the state is a minority shareholder at converting technologically related spillovers into higher profits and higher-efficiency gains.