关键词: 工业企业, 土地出让干预, 要素价格扭曲, 企业生产率, 传导影响

Abstract: In the context of China's transition to highquality development, an indepth analysis of the impact of local government land transfer intervention on enterprise productivity is of great significance. This paper uses land price distortion as a link to reflect the influencing mechanism of local government land transfer intervention on industrial enterprise productivity. A mediation effect model, based on the microdata of industrial enterprises from 2007 to 2014, is applied for the empirical analysis. The results indicate that the intervention of local government in industrial land transfer will lead to negative land price distortion, and therefore the decline in industrial enterprise productivity. Heterogeneity test by industries shows that, compared with laborintensive and technologyintensive industries, this negative transmission effect is more pronounced in capitalintensive industries. Therefore, the paper suggests to further deepen the reforms in marketoriented land resource allocation and the evaluation of local government performance.

Key words: industrial enterprises, land transfer intervention, element price distortion, enterprise productivity, transmission effect