TITLE:
Does the Reform of Supply and Marketing Cooperatives Improve the New Quality Productive Forces of CO-OP Enterprises?—An Empirical Test Based on Listed Enterprises
AUTHORS:
Qinghuan Zheng, Yanqi Wu, Long Zhao, Yimeng Chen
KEYWORDS:
Supply and Marketing Cooperatives Reform, CO-OP Enterprises, New Quality Productive Forces, Rural Revitalization, Total Factor Productivity
JOURNAL NAME:
Modern Economy,
Vol.15 No.10,
October
10,
2024
ABSTRACT: The report to the 20th National Congress of the CPC proposes “comprehensively promoting rural revitalization and developing new rural collective economies”. As an important part of the supply and marketing cooperatives system, China’s CO-OP enterprises will lead rural revitalization and promote the high-quality development of agriculture by improving their productivity. This study employs a double difference mode to investigate whether the reform of supply and marketing cooperatives can promote the new quality and productivity of CO-OP enterprises with a sample comprising listed CO-OP enterprises from 2013 to 2023. The results demonstrate that: (1) Following the implementation of the reform of supply and marketing cooperatives, the new quality productive forces of CO-OP enterprises in which supply and marketing cooperatives participate increased significantly; (2) The reform policy of supply and marketing cooperatives is effective in improving the operating capacity of CO-OP enterprises through the optimization of internal organization, thereby promoting the improvement of new quality productive forces; (3) The implementation of the reform policy of supply and marketing cooperatives increases the innovation inputs and innovation activities of CO-OP enterprises, which in turn promote the improvement of new quality productive forces. (4) The implementation of the reform policy for supply and marketing cooperatives reduces the level of financing constraints faced by enterprises and promotes the development of new quality productive forces in CO-OP enterprises. (5) There is significant heterogeneity in the impact of the reform on enterprises with different asset sizes and regions, with the reform having a stronger effect on the promotion of new quality productive forces in enterprises with smaller sizes and in the eastern region.