2004쓪뗚11웚쮫랽맘쾵ꆢ맘쾵췸싧ꆢ램풺폫헾뢮:훐맺럇맺폐웳튵볤탅죎뗄퇐뺿3샮ꆡ쳎샮ꆡ뫬ꆡ(훐즽듳톧쇫쓏톧풺)(샍뚯뫍짧믡놣헏늿)ꆡꆡ쓚죝쳡튪:틔훐맺쯄쪡쟸220볒럇맺폐웳튵캪샽,놾컄뾼달쇋뻶뚨웳튵볤탅죎돌뛈뗄룷훖틲쯘,늢럖컶쇋쯼쏇펰쿬탅죎돌뛈뗄늻춬ퟷ폃쟾뗀틔벰쿠뮥맘쾵,듓뛸쪵횤볬퇩쇋탅죎탎돉뗄ꆰ쮫랽맘쾵싛ꆱꆰꆢ맘쾵췸싧싛ꆱꆰꆢ램풺싛ꆱ뫍ꆰ헾뢮싛ꆱꆣTobit쒣탍믘맩뷡맻쿔쪾,웳튵쏦쇙뗄벤쇒쫐뎡뺺헹ꆢ웳튵뗄짧믡맘쾵췸싧ꆢ뻀럗탅쾢뗄폐킧삩즢뗈틲쯘뚼쿔훸쳡룟쇋웳튵뛔뗚뛾듳뿍뮧뗄탅죎돌뛈,뛸뿉쓜훐뛏뗄튵컱맘쾵틔벰좱랦풼쫸뫏춬뻀럗뗄폐킧믺훆웰떽쇋뢺쏦ퟷ폃ꆣ틔짏틲쯘뛔탅죎돌뛈뗄펰쿬쯦튵컱쪱볤뎤뛌뛸틬,뛸쟒뇋듋횮볤뿉쓜쿠뮥뛀솢ꆢ늹돤ꆢ믲쳦듺ꆣ퇐뺿랢쿖횧돖쇋ꆰ쮫랽맘쾵싛ꆱ뫍ꆰ맘쾵췸싧싛ꆱ,럱뚨쇋ꆰ램풺싛ꆱ뫍ꆰ헾뢮싛ꆱꆣ헾닟몬틥잿뗷쇋쫊뛈뗄쫐뎡뺺헹ꆢ샻폃짧믡맘쾵췸싧ꆢ놣돖탅쾢뒫능뗄춨뎩뗈듫쪩뛔볓잿탅죎뗄훘튪탔,춬쪱튲횸돶쇋쮾램룄룯펦떱뾼싇떽쯼믡펰쿬쫐뎡뺺헹폫탅쾢삩즢틲쯘뛔탅죎돌뛈뗄늻춬ퟷ폃,틲듋탨튪톰쟳뻹뫢룄룯랽낸ꆣ맘볼듊:쮫랽맘쾵ꆡ맘쾵췸싧ꆡ램풺ꆡ헾뢮ꆡ탅죎튻ꆢ틽ꆡ퇔쫐뎡퓋탐붨솢퓚웳튵볤튻쾵쇐늻췪좫뗄짌튵뫏춬믹뒡짏(Kornai,2001;Salaniꢦ,1997)ꆣ싄탐헢킩뫏춬탨튪웳튵볤뗄쿠뮥탅죎(DurlaufandFafchamps,2004),헢릹돉쇋쫐뎡폐킧퓋탐뗄잰쳡쳵볾(Fukuyama,1995)ꆣ쓇쎴,웳튵볤뗄탅죎돌뛈쫇죧뫎뻶뚨뗄?틑폐컄쿗뛔듋폐쯄훖늻춬맛뗣,벴ꆰ쮫랽맘쾵싛ꆱꆰꆢ맘쾵췸싧싛ꆱꆰꆢ램풺싛ꆱ뫍ꆰ헾뢮싛ꆱꆣ쫗쿈ꆰ,쮫랽맘쾵싛ꆱ죏캪,ퟷ캪웳튵볤ꆰ맘쾵뫏춬ꆱ뗄튻훖탎쪽,웳튵횮볤춨맽캬돖튵컱맘쾵퓶볓쇋뇋듋탅죎ꆣMacaulay(1963)랢쿖,웳튵횮볤돖탸뗄튵컱맘쾵폐훺폚뫏풼뗄싄탐,볓잿쇋뇋듋탅죎ꆣ튻랽쏦,싲싴쮫랽맽췹뗄튵컱맘쾵쪹뗃웳튵쓜릻쇋뷢뛔랽,뷸뛸쟸럖뾪횵뗃탅죎뗄웳튵뫍늻횵뗃탅죎뗄웳튵(Watson,1999)ꆣ튵컱맘쾵돖탸쪱볤풽뎤,뇋듋쇋뷢뗄돌뛈뻍풽룟,탅죎돌뛈튲풽룟(GhoshandRay,1996)ꆣ쇭튻랽쏦,쯦ퟅ튵컱맘쾵뗄퇓탸,웳튵볤뫏ퟷ뗄볓잿튲쳡룟쇋쯼쏇뗄쿠뮥탅죎돌뛈ꆣ헢쫇틲캪,웆뮵뫏ퟷ뗄믺믡훷틥탐캪쯰몦쇋쯹폐떱쫂랽떱잰뫍캴살뗄짌튵샻틦,헢풶풶뎬맽쇋쯼듸살뗄뛌웚쫕틦(Woodruff,2002)ꆣ퓚쳦듺튵컱믯냩쓑틔헒떽뗄쟩뿶쿂,헢훖돍랣믺훆뗄ퟷ폃폈캪춻돶(헅캬펭,2002)ꆣ웤듎ꆰ,맘쾵췸싧싛ꆱ죏캪,ퟷ캪웳튵볤ꆰ맘쾵뫏춬ꆱ뗄쇭튻훖탎쪽,짌튵믲짧믡(쟗엳뫃폑)맘쾵췸싧쓜릻냯훺웳튵쇋뷢뇋듋뗄짹폾,뒫능뫍쫕벯폐맘튵컱믯냩탅쾢,짵훁횱뷓뒦샭튵컱뻀럗,듓뛸퓶볓쇋웳튵볤탅죎ꆣMacaulay(1963)죏캪,믹폚짹폾뗄짌튵맘쾵믲짧믡맘쾵췸싧랽뇣쇋뫏춬뗄싄탐,쳡룟쇋웳튵볤뗄탅죎돌뛈ꆣ튻랽쏦,짌튵믲짧믡맘쾵췸싧뿉틔냯훺웳튵톰헒짌튵믯냩늢쳡릩폐3ꆡ룐킻훐맺짧믡뿆톧풺뺭볃퇐뺿쯹췵뫬쇬퇐뺿풱뫍쿣룛뿆벼듳톧뫍쟥뮪듳톧샮떾뿻뷌쫚뛔놾컄쫽뻝쪹폃틔벰컄헂킴ퟷ쯹룸폨뗄횸떼폫냯훺,떱좻컄퓰ퟔ뢺ꆣ85' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
샮ꆡ쳎ꆢ샮ꆡ뫬:쮫랽맘쾵ꆢ맘쾵췸싧ꆢ램풺폫헾뢮:훐맺럇맺폐웳튵볤탅죎뗄퇐뺿맘웤뿉뾿탔뗄탅쾢,쪹뗃웳튵벴쪹퓚쎻폐맽췹튵컱맘쾵뗄쳵볾쿂튲쓜쇋뷢잱퓚뗄짌튵믯냩,붨솢웰웳튵폫잱퓚뿍뮧횮볤뗄탅죎맘쾵(Johnson,McMillan,andWoodruff,2002)ꆣ쇭튻랽쏦,웳튵뿉틔춨맽짌튵믲짧믡맘쾵췸싧살뒫능믲쫕벯폐맘뿍뮧뗄짌튵뻀럗탅쾢,듓뛸돍랣쇋쓇킩웆뮵뫏ퟷ뗄탐캪,캬뮤쇋웳튵볤뗄탅죎(McMillanandWoodruff,1999a)ꆣ듋췢,짌튵뫍짧믡맘쾵췸싧튲뿉틔횱뷓뗷뷢뫍뒦샭돉풱웳튵볤뗄튵컱뻀럗(Greif,Milgrom,andWeingast,1994;폠뗈,2002)ꆣ뗚죽ꆰ,램풺싛ꆱ죏캪,ퟷ캪헽쪽뗚죽랽뗄램풺쓜릻캬뮤웳튵볤튵컱뗄뷸탐,폐킧뒦샭짌튵뻀럗,볓잿뇋듋탅죎ꆣWilliamson(1985)돆횮캪ꆰ램싉훐탄훷틥헟뗄맛뗣ꆱ,쯼볙짨폐맘뫏춬뗄폐킧뗄램싉쳵뿮틑뺭췪놸,램풺쓜틔릫뾪ꆢ폐킧틔벰뗍돉놾뗄랽쪽펦폃헢킩쳵뿮뷢뻶뻀럗ꆣ튻랽쏦,듦퓚튵컱맘쾵뗄웳튵뿉틔붫웰쯟떽램풺훙닃짌튵뻀럗ퟷ캪놣뮤뫏춬싄탐뗄뿉탅돐억,늢퓚잩뚩뫏춬쪱뾼싇떽헢훖뿉쓜,듓뛸퓚ꆰ램싉뗄틵펰ꆱ쿂캬뮤쇋웳튵볤뗄탅죎(Cooter,Marks,andMnookin,1982)ꆣ쇭튻랽쏦,램풺뿉틔횱뷓훙닃웳튵볤뗄튵컱뻀럗늢놣횤에뻶뗄폐킧횴탐ꆣ헢훖램풺퓚쪵볊에뻶훐붨솢웰살뗄짹폾쓜릻쪹뗃룼뛠뗄웳튵풸틢싄탐뫏춬,캬뮤쇋웳튵볤뗄탅죎(Johnson,McMillan,andWoodruff,2002)ꆣퟮ뫳ꆰ,헾뢮싛ꆱ죏캪,헾뢮뿉틔냯훺웳튵뷢뻶짌튵뻀럗,킭훺싄탐뫏춬,캬뮤웳튵볤탅죎ꆣ헾뢮뗄헢훖탐헾킭뗷ퟷ폃볈듦퓚폚랢듯뗄쫐뎡뺭볃맺볒(Hendley,Murrell,andRyterman,1999),룼춻돶뗘랴펳퓚탍뺭볃맺볒(ShleiferandVishny,1998)ꆣ퓚랢짺짌튵뻀럗쪱,헾뢮믺릹믡훷뚯뗘믲쫜웳튵퇻쟫뷸탐룉풤(Qian,2001),뛸룉풤쫖뛎튲뛠훖뛠퇹,냼삨맙랽뗄뫍럇맙랽뗄,잰헟죧헾뢮뗄횱뷓탐헾룉풤,뫳헟쿱헾뢮룉풤틸탐뛔짦벰뻀럗웳튵뗄듻뿮횧돖ꆣ탍뺭볃훐탭뛠헾뢮탔훊뗄짌튵킭믡퓚캬뮤웳튵볤쿠뮥탅죎쪱뗄ퟷ폃튲쫇ꆰ헾뢮싛ꆱ뗄튻룶랴펳(폠뗈,2002)ꆣ탨튪횸돶뗄쫇,웳튵볤뗄쿠뮥맘쾵ꆢ짌튵믲짧믡맘쾵췸싧ꆢ램풺틔벰헾뢮퓚캬뮤웳튵볤탅죎쪱뗄ퟷ폃뿉쓜늢늻뛀솢ꆣMacauley(1963)뫍Kranton(1996)횸돶,냼삨웳튵쮫랽맘쾵뫍짌튵믲짧믡맘쾵췸싧퓚쓚뗄럇헽쪽뫏풼맘쾵폫헽쪽뫏풼맘쾵(죧램풺)횮볤듦퓚ퟅ쳦듺맘쾵ꆣ쳘뇰쫇퓚램싉쳥쾵늻붡좫ꆢ램풺쓑틔놣횤뫏풼싄탐뗄쳵볾쿂,헢킩럇헽쪽뫏풼맘쾵폐솦뗘횧돖쇋웳튵볤뗄뇋듋탅죎(Greif,1993)ꆣ쿠랴,Klein(1996)훷헅,럇헽쪽뗄뫏풼맘쾵폫헽쪽뗄뫏풼맘쾵횮볤뮥캪늹돤,헢쫇평폚뫳헟쿞훆쇋떱잰튵컱맘쾵훐뿉쓜뗄믺믡훷틥탐캪,퓶볓쇋잰헟돖탸뗄뿉쓜ꆣ뾼싇떽틔짏솽훖뿉쓜,Woodruff(2002)릹퓬쇋튻룶샭싛쒣탍쮵쏷짌튵믲짧믡맘쾵췸싧폫램풺퓚ퟷ폃폚웳튵볤뗄탅죎쪱볈뿉쓜뮥캪쳦듺,튲뿉쓜뮥캪늹돤,뮹뿉쓜쿠뮥뛀솢ꆣ듋췢,Johnson,McMillan,andWoodruff(2002)랢쿖,웳튵쮫랽맘쾵뫍짌튵믲짧믡맘쾵췸싧퓚캬뮤웳튵볤탅죎쪱뮥쿠뛀솢ꆣHendleyandMurrell(2003)횸돶,웳튵쮫랽맘쾵폫헾뢮퓚캬뮤웳튵볤탅죎쪱뮥쿠쳦듺ꆣ듓웳튵뛔뗚뛾듳뿍뮧탅죎돌뛈뗄떥쿲뷇뛈죫쫖,놾컄럖컶쇋쮫랽맘쾵ꆢ짌튵믲짧믡맘쾵췸싧ꆢ램풺틔벰헾뢮퓚뻶뚨탅죎돌뛈쪱뗄ퟷ폃,틔벰쯄훖믺훆뗄ퟷ폃쟾뗀뫍뇋듋볤뗄맘쾵ꆣ놾컄뷡릹죧쿂:뗚뛾뷚뷩짜쇋컒쏇쪹폃뗄쫽뻝퇹놾;뗚죽뷚쫗쿈뿌뮭쇋믘맩쒣탍,좻뫳럖뇰쳖싛쇋살ퟔ헻쳥뫍쾸럖퇹놾뗄쪵횤랢쿖;ퟮ뫳튻뷚룸돶쇋뷡싛탔움쫶ꆣ뛾ꆢ쫽뻝퇹놾놾컄쫽뻝살ퟔ폚훐맺짧믡뿆톧풺뺭볃퇐뺿쯹ꆢ쿣룛뿆벼듳톧뫍쏀맺뗄퇐뺿죋풱ퟩ돉뗄뿎쳢ퟩ퓚2000쓪훐웚뷸탐뗄튻쿮훐맺쯄쪡쟸800볒룷샠탍쯹폐훆웳튵뗷닩ꆣ평폚퓚맺폐ꆢ죽뫍웤쯼늻좷뚨쯹폐훆샠탍뗄웳튵훐,틔짏쯄훖믺훆뗄ퟷ폃뿉쓜늻춬폚튻냣뗄럇맺폐웳튵,틲듋컒쏇쫗쿈좥뗴쇋틔짏죽훖샠탍웳튵ꆣ춬퇹,컒쏇튲좥뗴쇋쓇킩뗚뛾듳뿍뮧쫇헾뢮믺릹ꆢ맺폐웳튵믲웤쯼캴횪쯹폐훆샠탍웳튵뗄퇹놾ꆣ퇹놾쫽ퟮ훕캪220ꆣ듋췢,컒쏇뗄퇹놾췪좫붨솢퓚웳튵폫뗚뛾듳뿍뮧뗄튵컱맘쾵믹뒡짏,헢훖짨볆늿럖뗘업돽뿍뮧뗄슢뛏솦솿뛔탅죎맘쾵뗄펰쿬ꆣ폐맘뇤솿뷩짜죧쿂:86' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
2004쓪뗚11웚쫗쿈,폫Raiser,Rousso,andSteves(2003)쿠춬,컒쏇닉폃쇋1999쓪웳튵쿲뗚뛾듳뿍뮧쫕좡뗄풤뢶뿮뇈샽살닢솿쯼뛔뗚뛾듳뿍뮧뗄탅죎돌뛈,볇ퟶprepaymentꆣ쫕좡뗄풤뢶뿮뇈샽풽뗍,웳튵뛔뗚뛾듳뿍뮧뻍풽탅죎,랴횮퓲풽늻탅죎,틲듋헢샯뗄풤뢶뿮뇈샽쫇웳튵뛔뗚뛾듳뿍뮧탅죎돌뛈뗄튻룶랴쿲횸뇪ꆣ웤듎,헫뛔ꆰ쮫랽맘쾵싛ꆱꆰꆢ맘쾵췸싧싛ꆱꆰꆢ램풺싛ꆱ뫍ꆰ헾뢮싛ꆱ뗈맛뗣,컒쏇릹퓬쇋쯄ퟩ탩쓢뇤솿:bilateralꆢinformal-partyꆢcourtsꆢgovernments,웤뗷닩쪱볤뻹캪1999쓪,럖뇰뇭쪾웳튵죏캪뿉틔춨맽훐뛏튵컱살돍랣뛔랽뗄믺믡훷틥탐캪,믲헟죏캪짌튵킭믡믲웤쯼ퟩ횯ꆢ램풺ꆢ훐퇫믲뗘랽헾뢮쓜릻냯훺뷢뻶짌튵뻀럗ꆣ횵뗃힢틢뗄쫇,웳튵뿉쓜죏캪벸훖믺훆쓜릻춬쪱랢믓ퟷ폃ꆣ뾼싇떽캬뮤탅죎믺훆뗄췪헻탔,컒쏇뮹틽죫쇋탩쓢뇤솿noway,웤뗷닩쪱볤튲쫇1999쓪,뇭쪾웳튵죏캪틔짏쯄ퟩ믺훆뚼늻쓜뷢뻶뻀럗ꆣ뗚죽,죧잰쯹쫶,웳튵폫뿍뮧볤튵컱맘쾵돖탸쪱볤뗄뎤뛌ꆢ웳튵쏦쇙뗄뺺헹뮷뺳ꆢ짌튵믲짧믡맘쾵췸싧춨맽쳡릩믲삩즢탅쾢뚼믡펰쿬웳튵뛔뿍뮧뗄탅죎돌뛈ꆣ틲듋컒쏇릹퓬쇋틔쿂탩쓢뇤솿:duration-3ꆢduration-6ꆢduration-9ꆢduration-12,럖뇰뇭쪾뷘훁1999쓪,웳튵폫뗚뛾듳뿍뮧뗄튵컱맘쾵돖탸쇋훁뛠3쓪ꆢ4떽6쓪ꆢ7떽9쓪ꆢ10떽12쓪;competitors-0ꆢcompetitors-1ꆢcompetitors-2,럖뇰뛔펦1999쓪퓚춬튻돇쫐쓚쎻폐ꆢ폐1볒ꆢ훁짙폐2볒웤쯼웳튵짺닺폫놾웳튵쿠춬뗄닺욷;business-infꆢfamily-inf,럖뇰뇭쪾폫뗚뛾듳뿍뮧랢짺튵컱췹살횮잰,웳튵춨맽짌튵맘쾵췸싧(죧짌튵킭믡)믲짧믡맘쾵췸싧(죧엳폑ꆢ잰풱릤ꆢ쫬죋)살믱뗃뗚뛾듳뿍뮧뗄탅쾢ꆣ듋췢,캪쇋놣횤탅쾢살풴뗄췪헻탔,컒쏇뮹짨볆쇋웤쯼죽ퟩ탩쓢뇤솿:bank-infꆢgovernment-infꆢmarket-inf,럖뇰뇭쪾폫뗚뛾듳뿍뮧랢짺튵컱췹살횮잰,웳튵춨맽틸탐ꆢ헾뢮믺릹ꆢ쫐뎡쇋뷢뗚뛾듳뿍뮧ꆣ틔짏탅쾢살풴뇤솿뗄뗷닩쪱볤뚼쫇1999쓪ꆣ뗚쯄,웳튵뛔뿍뮧뗄탅죎돌뛈뿉쓜뮹쫜떽웤쯼틲쯘뗄펰쿬,죧웳튵볤튵컱뻀럗탅쾢뗄쫕벯믲삩즢(Raiser,Rousso,andSteves,2003),웳튵뗄탐튵샠뇰ꆢ맦쒣ꆢ쓪쇤ꆢ웳튵맜샭죋풱뗄쓪쇤ꆢ쫜뷌폽돌뛈ꆢ쳘뚨짭럝ꆢ뿍뮧쳘헷뫍릩믵짌뛔웳튵뗄탅죎돌뛈(Johnson,McMillan,andWoodruff,2002),웳튵뗄뗘샭캻훃(헅캬펭ꆢ뿂죙힡,2002),웳튵잰짭뗄쯹폐훆쫴탔(Hendley,Murrell,andRyterman,1999)틔벰웳튵뗄벯췅돉풱탔훊ꆣ쿠펦뇤솿캪:탩쓢뇤솿information-to-others뫍information-from-others,럖뇰뛔펦퓚1999쓪,웳튵웤쯼뗄뿍뮧쓜릻쇋뷢웳튵폫뻜뻸뷓쫜릩믵뗄뗚뛾듳뿍뮧뗄뻀럗,믲헟웳튵쓜릻쇋뷢뻜뻸뷓쫜릩믵뗄뗚뛾듳뿍뮧폫웤쯼웳튵뗄샠쯆뻀럗;탩쓢뇤솿miningꆢlightmanuꆢheamanuꆢchemicalꆢotheri,럖뇰뇭쪾웳튵쫴폚닉뿳튵믲릫폃쫂튵ꆢ쟡릤튵ꆢ훘릤튵ꆢ뮯릤튵ꆢ웤쯼탐튵;탩쓢뇤솿largeꆢmediumꆢsmall,럖뇰뛔펦듳ꆢ훐ꆢ킡탍웳튵;탩쓢뇤솿firmage5-9ꆢfirmage10-20ꆢfirmage20-more,럖뇰뇭쪾뷘훁1999쓪,웳튵틑뺭춶닺5떽9쓪ꆢ10떽20쓪ꆢ20쓪틔짏;탩쓢뇤솿manager-30ꆢmanager-40ꆢmanager-50ꆢuniversity-eduꆢcollege-eduꆢmiddle-eduꆢmanager-partyꆢmanager-official,럖뇰뇭쪾뷘훁1999쓪,웳튵뺭샭뗄쓪쇤퓚40쯪틔쿂ꆢ40떽50쯪ꆢ50쯪틔짏,뺭샭죋풱뗄뷌폽돌뛈쫇듳톧믲룼룟ꆢ듳ꆢ룟훐믲훐,뺭샭죋풱쫇떳풱,틔벰떣죎웳튵맜샭죋풱횮잰쫇헾뢮릫컱풱;탩쓢뇤솿customer-rwꆢcustomer-provinceꆢcustomer-city,럖뇰뇭쪾뗚뛾듳뿍뮧쫇럇맺폐뗄엺랢짌믲쇣쫛짌ꆢ뗚뛾듳뿍뮧폫웳튵살ퟔ춬튻쪡럝ꆢ뗚뛾듳뿍뮧폫웳튵살ퟔ춬튻돇쫐;tc-supplier,뇭쪾1999쓪웳튵쿲릩펦짌뷉쓉뗄풤뢶뿮뇈샽;탩쓢뇤솿jsꆢscꆢsxꆢjl,럖뇰뛔펦웳튵퓚붭쯕ꆢ쯄뒨ꆢ즽컷믲벪쇖;탩쓢뇤솿pre-SOE,뇭쪾잰짭쫇맺폐웳튵;틔벰탩쓢뇤솿businessgroup,뇭쪾1999쓪웳튵쫴폚쒳룶웳튵벯췅믲뿘막릫쮾ꆣ듋췢,뾼싇떽ퟷ캪탅죎돌뛈횸뇪뗄풤뢶뿮뇈샽뮹뿉쓜쫜떽웳튵뷰풼쫸뗄펰쿬(Raiser,Rousso,andSteves,2003)ꆣ컒쏇틽죫쇋틔쿂솽ퟩ뇤솿:loan-1998ꆢshortage-wcꆣ잰헟쫇웳튵퓚199887' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
샮ꆡ쳎ꆢ샮ꆡ뫬:쮫랽맘쾵ꆢ맘쾵췸싧ꆢ램풺폫헾뢮:훐맺럇맺폐웳튵볤탅죎뗄퇐뺿쓪믱뗃쇋틸탐듻뿮뗄탩쓢뇤솿,뫳헟닢솿쇋웳튵퓚1999쓪뗄쇷뚯뷰삧쓑돌뛈,뢳횵럖뇰캪1ꆢ2ꆢ3,뷏듳뗄뢳횵듺뇭쇋뷏룟뗄삧쓑돌뛈ꆣ죽ꆢ믘맩럖컶컒쏇쫗쿈뷩짜쇋믘맩쒣탍,좻뫳룸돶쇋믹폚헻쳥퇹놾틔벰쾸럖퇹놾뗄믘맩뷡맻ꋙꆣ(튻)믘맩쒣탍풤뢶뿮뇈샽뇤솿쫇뗤탍뗄뷘캲쫽뻝(censoreddata)ꆣ220룶퇹놾쫽뻝훐폐102룶풤뢶뿮뇈샽캪0,뮹폐1룶캪100%ꆣ붫웳튵웚췻쿲뿍뮧쫕좡뗄풤뢶뿮뇈샽볇ퟷ3prepaymenti,쓇쎴쿠펦뗄믘맩쒣탍뿉틔킴ퟷ:3prepaymenti=ꛁ0+ꛁ13bilaterali+ꛁ23competitors-1i+ꛁ33competitors-2i+ꛁ43duration-6i+ꛁ53duration-9i+ꛁ63duration-12i+ꛁ73informal-partyii+ꛁ83business-infi+ꛁ93family-infi+ꛁ103bank-infi+ꛁ113government-infi+ꛁ123courtsi+ꛁ133governmentsi+ꛁ143nowayi+f(loan-1998i,shortage-wci,tc-supplieri,information-to-othersi,information-from-others)i+g(z)i+ꛅi쿂뇪i뇭쪾늻춬뗄퇹놾웳튵ꆣ캪쇋뇜쏢릲쿟탔컊쳢,퓚쒣탍훐컒쏇쪡싔쇋competitors-0ꆢduration-3ꆢmarket-inf뗈뇤솿ꆣz뇭쪾웤쯼뗄튻킩뿘훆뇤솿,냼삨웳튵뗄탐튵샠탍ꆢ뗘샭캻훃ꆢ맦쒣ꆢ쓪쇤ꆢ잰짭뗄맺폐탔훊ꆢ벯췅돉풱탔훊,뺭샭쓪쇤ꆢ뷌폽돌뛈ꆢ헾훎쏦쎲ꆢ횰튵샺돌,뿍뮧뗄엺랢믲쇣쫛탔훊ꆢ뗘샭캻훃ꆣf()ꆢg()뻹듺뇭늻춬뿘훆뇤솿뗄뿉쓜ퟩ뫏ꆣ뷸튻늽뗘,붫맛닢떽뗄웳튵쪵볊쿲뿍뮧쫕좡뗄풤뢶뿮뇈샽볇ퟷprepaymenti,컒쏇폐죧쿂췆싛:prepaymenti=prepaym3enti,죧맻0<prepaym3enti<100%prepaym3enti=0,죧맻prepaymentiꇜ03prepaymenti=100%,죧맻prepaymentiꇝ100%틲듋,컒쏇붫닉폃Tobit쒣탍살럖컶헢훖뗤탍뗄쮫뇟뷘캲쫽뻝ꆣ캪쇋뷢쫍뗄랽뇣,컒쏇믣놨쇋믹폚럇뷘캲쫽뻝뗄ퟔ뇤솿뇤뮯뛔풤뢶뿮뇈샽뗄뇟볊펰쿬,뛸늻쫇춨뎣뗄믘맩쾵쫽ꋚꆣ(뛾)쪵횤뷡맻컒쏇쫗쿈믣놨쇋믹폚헻쳥퇹놾뗄믘맩뷡맻,뷸뛸볬퇩쇋쮫랽맘쾵ꆢ짌튵믲짧믡맘쾵췸싧ꆢ램풺틔벰헾뢮퓚뻶뚨웳튵뛔뗚뛾듳뿍뮧탅죎돌뛈쪱뗄ퟷ폃쫇럱쿔훸;좻뫳쳖싛쇋살ퟔ쾸럖퇹놾뗄쪵횤랢쿖,듓뛸뾼달쇋틔짏쯄훖믺훆뗄ퟷ폃쟾뗀,틔벰쯼쏇뗄쿠뮥맘쾵ꆣ1.믹폚헻쳥퇹놾뗄랢쿖뇭1룸돶쇋믹폚헻쳥퇹놾뗄쪵횤럖컶뷡맻ꆣ룹뻝늻춬뗄뿘훆뇤솿ퟩ뫏,컒쏇쳡릩쇋9ퟩ믘맩랢쿖,헢볈퓶잿쇋쒣탍뗄좫쏦탔,튲뷸탐쇋믘맩뷡맻뗄컈붡탔볬퇩ꆣퟜ뷡죧쿂:ꋙ평폚욪럹쿞훆,컒쏇쪡싔쇋뇤솿뗄뻹횵럖컶뫍쿠맘럖컶뷡맻,룐탋좤뗄뛁헟뿉틔쿲ퟷ헟쯷좡ꆣꋚ룹뻝McDonaldandMoffit(1990)뗄퇐뺿,믘맩쾵쫽폫뇟볊펰쿬뗄쟸뇰뷶퓚폚잰헟퓚쫽횵짏뗈폚뫳헟폫럇뷘캲쫽뻝뇈샽횮뇈,뛸뇪ힼ닮췪좫쿠춬ꆣ88' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
2004쓪뗚11웚뇭1믹폚헻쳥퇹놾뗄Tobit믘맩뷡맻웳튵볤뗄탅죎돌뛈:prepayment(1)(2)(3)(4)(5)(6)(7)(8)(9)21822951613733333333515301516101515303518573517694518560517677bilateral(0191)(1181)(1180)(1181)(1180)(1191)(1190)(1191)(1190)3-41333335939-511049-514127-51330474-513333333333271-512132-514641-511996-51334223competitors-1(-2110)(-2135)(-2153)(-2131)(-2149)(-2142)(-2159)(-2141)(-2157)333333-713333333333336255-714302-713337474-714388-717668-713337361-810330-717368-813330391competitors-2(-3127)(-3116)(-3135)(-3117)(-3137)(-3133)(-3152)(-3133)(-3152)-713333333333333331291-714713-619629-713333333335189-710278-713560-613338208-713673-618542family-inf(-3125)(-3144)(-3125)(-3146)(-3127)(-3142)(-3122)(-3142)(-3123)51183881333333332636818307813284819512819307913351418133944491335701noway(1123)(1189)(2102)(1191)(2105)(2104)(2118)(2105)(2119)loan-1998쫇쫇쫇쫇33333-219155-219709-31330236-3130499shortage-wc(-2127)(-2131)(-2138)(-2119)tc-supplier쫇쫇쫇쫇-51333333335292-519337-515022-518461information-to-others(-2102)(-2119)(-2100)(-2115)information-from-others쫇쫇쫇쫇싴랽뫍뺭샭죋풱쳘헷쫇쫇쫇쫇쫇쫇쫇쫇뗚뛾듳뿍뮧쳘헷쫇쫇쫇쫇쫇쫇쫇쫇PseudoR2010328010514010547010515010549010556010595010556010596ꆡꆡ힢:럖컶쪹폃쇋쮫뇟뷘캲쫽뻝뗄Tobit믘맩랽램ꆣ컒쏇믣놨쇋믹폚럇뷘캲쫽뻝뗄룷뇤솿뗄뇟볊킧맻ꆣ삨뫅훐쫇t춳볆뷡맻3,33333(,)럖뇰뇭쪾믘맩뷡맻뗄쿔훸탔돌뛈듯떽쇋90%(95%,99%)ꆣ쯹폐믘맩쪽훐뗄좫늿맛닢횵뚼쫇220,럇뷘캲쫽뻝맛닢횵쫇117ꆣ욪럹쯹쿞,컒쏇횻쇐돶쇋듦퓚쿔훸믘맩랢쿖뗄뇤솿틔벰쟸럖뾪늻춬믘맩짨뚨뗄뿘훆뇤솿(틔ꆰ쫇ꆱ뇭쪾럖컶훐틑뾼싇)ꆣ췪헻뷡맻뿉틔살탅쯷좡ꆣ쫗쿈,뿘훆쇋웳튵ꆢ뿍뮧ꆢ틔벰웳튵맜샭죋풱쳘헷,웳튵뛔뗚뛾듳뿍뮧뗄탅죎돌뛈쫜떽쮫랽맘쾵뗄쿔훸펰쿬ꆣ죧맻웳튵죏캪뿉틔춨맽훐뛏캴살튵컱살풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧,쓇쎴쯼쏇쿲뗚뛾듳뿍뮧쫕좡뗄풤뢶뿮뇈샽믡룼룟,벴웳튵뛔뗚뛾듳뿍뮧뗄탅죎돌뛈풽뗍ꆣ튻랽쏦,퓚랢짺뫏춬뻀럗뗄쟩뿶쿂,죧맻웳튵쓜릻춨맽훐횹캴살튵컱맘쾵살돍랣뿍뮧뗄믺믡훷틥탐캪,쪹뿍뮧쓑틔믱뗃뎤웚뫏ퟷ뗄뺻쫕틦,쓇쎴샭탔뿍뮧믡톡퓱놣돖폫웳튵뫏ퟷ,믱뗃웳튵탅죎(Greif,Milgrom,andWeingast,1994)ꆣ떫쇭튻랽쏦,폫컞램춨맽탐쪹췋돶좨살폐킧풼쫸믺믡훷틥뿍뮧뗄쟩탎쿠뇈,웳튵췋돶좨뗄탐쪹룸웳튵듸살솽룶랽쏦뗄뿉쓜쯰쪧,튻쫇퓶볓쇋웳튵폫뿍뮧튵컱맘쾵쯦쪱훐뛏뗄뿉쓜탔,뇭쿖캪웳튵폫뿍뮧뗄뛌웚붻틗쫓튰;뛾쫇퓚틑뺭캬돖쇋뎤웚튵컱맘쾵뗄쟩뿶쿂,웳튵뗄듳솿늻뿉믘쫕뗄폃탔춶쏦쇙ퟅ평폚튵컱맘쾵훐뛏뛸떼훂뗄뻞듳쯰쪧(Klein,CrawfordandAlchian,1978)ꆣ헢훖쟩뿶쿂,웳튵뛔뿍뮧뗄탅죎돌뛈룼뗍ꆣ솽쿠뇈뷏,쯰쪧뿉쓜뎬맽쇋뎤웚뫏ퟷ뗄뺻쫕틦,틲듋웳튵믡쿲뿍뮧쫕좡룼뛠뗄풤뢶뿮ꆣ돽쇋믘맩쪽(1)(뿘훆뇤솿ퟮ짙)캴뗃돶쿔훸뷡맻췢(떫쾵쫽89' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
샮ꆡ쳎ꆢ샮ꆡ뫬:쮫랽맘쾵ꆢ맘쾵췸싧ꆢ램풺폫헾뢮:훐맺럇맺폐웳튵볤탅죎뗄퇐뺿춬퇹캪헽),폐맘랢쿖쿠떱컈뚨:폫웳튵죏캪컞램춨맽훐뛏캴살튵컱맘쾵살풼쫸믺믡훷틥탐캪쿠뇈,죧맻웳튵죏캪훐뛏튵컱맘쾵뿉틔뷢뻶뫏춬뻀럗,쓇쎴쯼쏇믡훁짙쿲뗚뛾듳뿍뮧뛠쫕좡5153%뗄풤뢶뿮,뛸ퟮ뛠뿉쓜뛠쫕좡5186%ꆣ웤듎,웳튵쏦쇙뗄뺺헹뮷뺳쿔훸펰쿬쇋쯼쏇뛔뗚뛾듳뿍뮧뗄탅죎돌뛈ꆣ폫춬튻돇쫐쓚늻듦퓚죎뫎뺺헹뛔쫖쿠뇈,죧맻춬튻돇쫐듦퓚ퟅ1룶믲훁짙2룶짺닺춬퇹닺욷뗄웤쯼뎧짌,웳튵믡쿲뗚뛾듳뿍뮧쫕좡뷏짙뇈샽뗄풤뢶뿮,뇭쿖캪뛔뗚뛾듳뿍뮧뷏룟뗄탅죎돌뛈;뺺헹뎧짌풽뛠,풤뢶뿮쫕좡뇈샽풽뗍,뛔뗚뛾듳뿍뮧뗄탅죎돌뛈풽룟ꆣ뿉쓜뗄뷢쫍쫇:쯤좻퓚웳튵뺺헹뛔쫖뷏뛠뗄쟩뿶쿂,뿍뮧죝틗헒떽쳦듺릩펦짌,틲뛸웳튵뛔뿍뮧뗄탅죎돌뛈뷏뗍;떫쫇,뺺헹벤쇒뗄릩펦짌쫐뎡믡쪹뗃뿍뮧뛔붻틗뗄뿘훆쓜솦뷏잿,헢볈뿉쓜랴펳퓚뷏뗍뗄짌욷볛룱짏(Johnson,McMillan,andWoodruff,2000),튲뿉쓜뇭쿖캪웳튵룸폨뿍뮧뗄럇볛룱폅믝듫쪩,죧쿲뿍뮧쫕좡뷏짙뗄풤뢶뿮ꆣ퓚뺺헹벤쇒뗄뮷뺳쿂,헢킩럇볛룱폅믝듫쪩볈뿉쓜쫇평폚튵컱맘쾵쪱볤뷏뛌,쿠뮥늻쇋뷢,웳튵캪컼틽탂뿍뮧쯹룸폨뗄폅믝;튲뿉쓜쫇웳튵캪쇋붱샸뎤웚뫏ퟷ뗄샏뿍뮧쯹쳡릩뗄늹뎥ꆣ뺺헹풽벤쇒,냼삨복짙풤뢶뿮퓚쓚뗄럇볛룱폅믝듫쪩솦뛈풽듳ꆣ솽쿠뇈뷏,쳦듺릩펦짌돶쿖퓬돉뗄쯰쪧뿉쓜늻벰쪧좥쿖폐뿍뮧뗄쯰쪧,틲듋벤쇒뗄쫐뎡뺺헹쪹웳튵쿲뿍뮧쫕좡뷏짙뗄풤뢶뿮ꆣ헢튻랢쿖튲횧돖쇋헅캬펭ꆢ뿂죙힡(2002)맘폚쫐뎡뮯돌뛈쳡룟쇋탅죎돌뛈뗄싛쫶ꆣ맛달쯹폐뗄믘맩쪽,폐맘랢쿖췪좫컈뚨:폫춬튻돇쫐쓚쎻폐웤쯼뺺헹뛔쫖쿠뇈,죧맻듦퓚1룶뺺헹뛔쫖,쓇쎴웳튵훁짙쿲뗚뛾듳뿍뮧짙쫕좡4159%뗄풤뢶뿮,뛸ퟮ뛠믡쿲뗚뛾듳뿍뮧짙쫕좡5142%;죧맻훁짙듦퓚2룶뺺헹뛔쫖,쓇쎴짙쫕좡뗄풤뢶뿮뇈샽ퟮ짙캪7143%,뛸ퟮ뛠듯떽8104%;뇈뷏쯹폐믘맩쪽훐틔짏솽ퟩ킧맻뗄닮뻠,퓶볓훁짙1룶뺺헹뛔쫖,웳튵쿲뗚뛾듳뿍뮧쫕좡뗄풤뢶뿮뇈샽훁짙믡붵뗍2133%,ퟮ뛠믡붵뗍3103%ꆣ뗚죽,춨맽짧믡맘쾵췸싧죏쪶뗚뛾듳뿍뮧튲쿔훸펰쿬쇋웳튵뛔웤뗄탅죎돌뛈ꆣ폫춨맽쫐뎡럖컶죏쪶뗚뛾듳뿍뮧쿠뇈,춨맽짌튵좦쫬죋ꆢ엳폑ꆢ잰풱릤믱뗃ퟮ돵뗄뗚뛾듳뿍뮧탅쾢믡붵뗍웳튵쿲웤쫕좡뗄풤뢶뿮뇈샽,뇭쿖캪웳튵뛔쯼쏇뷏룟뗄탅죎돌뛈ꆣ튻랽쏦,퓚늻쫬쾤잱퓚뿍뮧뗄쟩뿶쿂,웳튵뗄짧믡맘쾵췸싧뿉틔쳡릩룸웳튵뷏캪뿉뾿뗄붻틗믯냩(McMillanandWoodruff,1999b);쇭튻랽쏦,춨맽짧믡맘쾵췸싧죏쪶뗄뿍뮧믡쫜떽헻룶짧믡맘쾵췸싧뗄볠뚽,웳튵뿉틔춨맽짧믡맘쾵췸싧살뒫능믲쫕벯뿍뮧뗄짌튵뻀럗탅쾢,듓뛸돍랣쇋쓇킩웆뮵뫏ퟷ뗄탐캪(Hendley,Murrell,andRyterman,1999)ꆣ틔짏솽훖쟾뗀뚼쪹뗃웳튵룼볓탅죎춨맽짧믡맘쾵췸싧죏쪶뗄뿍뮧,쿲쯼쏇쫕좡뷏뗍뇈샽뗄풤뢶뿮ꆣ뇈뷏쯹폐뗄믘맩쪽,폐맘랢쿖췪좫컈뚨:폫춨맽쫐뎡럖컶죏쪶뗚뛾듳뿍뮧쿠뇈,웳튵훁짙뛔춨맽짧믡맘쾵췸싧죏쪶뗄뗚뛾듳뿍뮧짙쫕좡6182%뗄풤뢶뿮,뛸ퟮ뛠퓲믡짙쫕좡7152%ꆣ뗚쯄,뿘훆쇋웳튵ꆢ뿍뮧ꆢ틔벰웳튵맜샭죋풱쳘헷,폐컞냬램풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧쿔훸펰쿬쇋웳튵뛔뗚뛾듳뿍뮧뗄탅죎돌뛈ꆣ죧맻웳튵죏캪쎻폐죎뫎냬램뿉틔뷢뻶웳튵폫뿍뮧뗄뫏춬뻀럗,쓇쎴쯼쏇믡쿲뗚뛾듳뿍뮧쫕좡뷏뛠뗄풤뢶뿮,뇭쿖캪웳튵뛔뗚뛾듳뿍뮧뷏뗍뗄탅죎돌뛈ꆣ퓚컞램풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧뗄쳵볾쿂:튻랽쏦,죧맻웳튵폫뿍뮧튵컱돖탸쪱볤뷏뛌,좱랦뛔뿍뮧뗄ퟣ릻쇋뷢,쓇쎴웳튵탨튪룼뛠뗄뷰떣놣살붵뗍뿍뮧캥풼럧쿕;쇭튻랽쏦,볙죧웳튵폫뿍뮧뗄튵컱돖탸쪱볤뷏뎤,쓇쎴헢킩튵컱짦벰뷰뛮믡풽살풽듳(GhoshandRay,1996),웳튵쫕좡뗄풤뢶뿮뇈샽튲믡풽살풽룟ꆣ헢킩뚼떼훂쇋쎻폐죎뫎냬램풼쫸뿍뮧믺믡훷틥탐캪뗄웳튵믡쿲뿍뮧쫕좡뷏룟뇈샽뗄풤뢶뿮ꆣ돽쇋믘맩쪽(1)(뿘훆뇤솿ퟮ짙)캴쿔쪾쿔훸뷡맻췢(떫쾵쫽춬퇹캪헽),폐맘랢쿖쿠떱컈뚨:퓚웳튵죏캪쎻폐죎뫎냬램풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧뗄쟩뿶쿂,웳튵훁짙믡쿲뗚뛾듳뿍뮧뛠쫕좡8126%뗄풤뢶뿮,뛸ퟮ뛠믡뛠쫕좡9157%ꆣ뗚컥,웳튵폫뗚뛾듳뿍뮧횮볤뗄뻀럗탅쾢퓚웤쯼뿍뮧훐뗄폐킧삩즢튲쿔훸펰쿬쇋웳튵뛔뗚뛾듳뿍뮧뗄탅죎돌뛈ꆣ죧맻웳튵죏캪웤쯼뿍뮧쓜릻쇋뷢쯼폫뻜뻸뷓쫜릩믵뗄뗚뛾듳뿍뮧뗄뻀럗,쓇90' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
2004쓪뗚11웚쎴쯼믡룼볓탅죎뗚뛾듳뿍뮧,쿲웤쫕좡뷏뗍뇈샽뗄풤뢶뿮ꆣ튻랽쏦,뛔폚쓇킩폫웳튵뾪햹튵컱쪱볤늻뎤뗄뿍뮧뛸퇔,붨솢솼뫃짹폾쫇룶뷏캪웈쟐뗄컊쳢,뛸뻀럗탅쾢퓚춬탐훐뗄삩즢믡뛔듋닺짺뻞듳쯰몦;쇭튻랽쏦,죧맻뿍뮧폫웳튵뗄튵컱맘쾵돖탸쇋뷏뎤쪱볤,뿍뮧믡룼볓힢훘캬뮤뎤웚붨솢웰살뗄짹폾,뛸뻀럗탅쾢퓚웤쯼뿍뮧훐뗄뒫능믡웆뮵뿍뮧틑폐짹폾ꆣ뻀럗탅쾢퓚뿍뮧좺훐뗄폐킧삩즢쪹뗃웳튵룼볓탅죎얬솦붨솢뫍캬뮤ퟔ짭짹폾뗄뗚뛾듳뿍뮧,쫕좡뷏짙뗄풤뢶뿮(Johnson,McMillan,andWoodruff,2002)ꆣ뇈뷏폐맘뗄믘맩쪽,틔짏랢쿖췪좫컈뚨:죧맻웳튵죏캪웤쯼뿍뮧쓜쇋뷢쯼폫뻜뻸뷓쫜릩믵뗄뗚뛾듳뿍뮧뗄뻀럗,쓇쎴쯼훁짙쿲뗚뛾듳뿍뮧짙쫕좡5150%뗄풤뢶뿮,뛸ퟮ뛠믡짙쫕좡5193%ꆣ듋췢,쇷뚯뷰삧쓑돌뛈튲쿔훸펰쿬쇋웳튵뛔뗚뛾듳뿍뮧뗄탅죎돌뛈ꆣ죧맻웳튵퓚1999쓪뗄쇷뚯뷰삧쓑돌뛈뷏룟,쓇쎴쯼쏇믡쿲뗚뛾듳뿍뮧쫕좡뷏뗍뇈샽뗄풤뢶뿮,뇭쿖캪쯼쏇뛔뗚뛾듳뿍뮧뷏룟뗄탅죎돌뛈ꆣ뾼싇떽풤뢶뿮뇈샽뇤솿뫍쇷뚯뷰삧쓑돌뛈횸뇪뗄뾼달쪱볤뚼퓚1999쓪,헢뿉쓜랴펳쇋쇷뚯뷰삧쓑돌뛈뗄쓚짺탔ꆣ퓚쓇킩쫕좡풤뢶뿮뷏뛠뗄웳튵,쇷뚯뷰뗄삧쓑돌뛈뷏뗍ꆣ헢튲폫폐맘믘맩쪽훐좫늿컈뚨뛸쟒믘맩쾵쫽캪뢺뗄쇷뚯뷰뇤솿뗄랢쿖쿠튻훂ꆣퟮ뫳,웳튵폫뗚뛾듳뿍뮧튵컱맘쾵돖탸쪱볤뛔탅죎돌뛈쎻폐쿔훸펰쿬,헢뿉쓜쫇평폚캬돖탅죎뗄웤쯼믺훆놾짭쳥쿖쇋늻춬뗄튵컱맘쾵돖탸쪱볤뛔탅죎돌뛈뗄펰쿬ꆣ짌튵킭믡믲웤쯼ퟩ횯틔벰짌튵맘쾵췸싧뛔탅죎돌뛈튲쎻폐쿔훸펰쿬,헢랴펳쇋훐맺짌튵킭믡얨뫱뗄탐헾룉풤즫닊(폠뗈,2002)ꆣ램풺늢캴쿔훸쳡룟탅죎돌뛈,헢쮵쏷캬뮤웳튵볤뗄탅죎늻뷶탨튪폐킧뗄램풺에뻶,뮹탨튪웤쯼믺훆뗄엤뫏,죧뫏샭뗄쮾램돉놾뫍릫뾪뗄탅쾢엻슶뗈(헅캬펭,2002)ꆣ헾뢮믲헾뢮믺릹맘쾵췸싧뛔탅죎돌뛈쎻폐쿔훸펰쿬,헢쳥쿖쇋탍뺭볃훐뗄헾뢮뗄ꆰ싓뛡ꆱ폫ꆰ냯훺ꆱ뗄쮫훘ퟷ폃(Qian,2001)ꆣ뷰죚믺릹맘쾵췸싧뛔탅죎돌뛈뗄ퟷ폃튲늻쿔훸,헢랴펳쇋훐맺뗄뷰죚믺릹퓚쿲쏱펪웳튵쳡릩뿍뮧탅쾢랽쏦ퟷ폃늢늻춻돶ꆣ틔1998쓪쫇럱믱뗃틸탐듻뿮뫢솿뗄뷰풼쫸돌뛈틔벰웳튵쿲웤릩펦짌뷉쓉뗄풤뢶뿮뇈샽뚼쎻폐쿔훸펰쿬탅죎돌뛈,헢랴펳쇋웳튵쫕좡풤뢶뿮늢럇웳튵뷰풼쫸뗄뷡맻ꆣퟮ뫳,웳튵뛔뗚뛾듳뿍뮧폫웤쯼웳튵뻀럗탅쾢뗄쫕벯튲쎻폐쿔훸펰쿬탅죎돌뛈,헢쮵쏷쇋웳튵뛔뿍뮧뗄볤뷓볠뚽(춨맽쫕벯럇웳튵놾짭뗄뻀럗탅쾢)뛔놣돖탅죎뛈뗄릱쿗뫜킡ꆣ2.믹폚쾸럖퇹놾뗄랢쿖닉폃폫헻쳥퇹놾쿠쯆뗄믘맩쒣탍,뇭2룸돶쇋믹폚쾸럖퇹놾뗄쪵횤럖컶뷡맻ꆣ컒쏇랢쿖:쫗쿈,룹뻝웳튵폫뗚뛾듳뿍뮧튵컱돖탸쪱볤쫇럱뎬맽6쓪,컒쏇냑헻쳥퇹놾쾸럖캪늻ퟣ6쓪뫍뎬맽6쓪솽룶ퟓ퇹놾ꋙꆣ뗚(1)ퟩ믘맩뷡맻ퟜ뷡쇋폐맘랢쿖ꆣ퓚튵컱돖탸쪱볤뎬맽6쓪뗄ퟓ퇹놾훐,죧맻웳튵죏캪훐뛏튵컱맘쾵뿉틔뷢뻶뫏춬뻀럗,쓇쎴쯼쏇믡쿲뗚뛾듳뿍뮧뛠쫕좡28104%뗄풤뢶뿮;뛸퓚튵컱돖탸쪱볤늻ퟣ6쓪뗄ퟓ퇹놾훐,쎻폐쿔훸뷡맻ꆣퟓ퇹놾볤믘맩쾵쫽뗄닮틬췪좫쿔훸ꆣ헢쮵쏷쇋헻쳥퇹놾훐폐맘웳튵췋돶좨뗄탐쪹룸웳튵퓬돉뗄쯰쪧룼뛠뗘쳥쿖퓚,냩쯦뎤웚튵컱맘쾵뗄웳튵듳솿늻뿉믘쫕뗄폃탔춶뗄쯰쪧,뛸늻쫇뛌웚붻틗쫓튰ꆣ퓚튵컱돖탸쪱볤늻ퟣ6쓪뗄ퟓ퇹놾훐,퓚뷶폐1볒뺺헹뛔쫖뗄쟩뿶쿂,웳튵믡쿲뗚뛾듳뿍뮧짙쫕좡8198%뗄풤뢶뿮,뛸퓚훁짙듦퓚2볒뺺헹뛔쫖뗄쳵볾쿂,헢룶뇈샽룟듯12141%;퓚튵컱맘쾵돖탸쪱볤뎬맽6쓪뗄퇹놾훐,쎻폐쿔훸랢쿖ꆣ솽ퟩ믘맩쾵쫽뗄닮틬췪좫쿔훸ꆣ헢랴펳쇋벤쇒뗄쫐뎡뺺헹쪹뗃웳튵룼뛠뗘춨맽복짙풤뢶뿮뇈샽살컼틽탂맋뿍,뛸럇캪쇋붱샸뎤웚뫏ퟷ뗄샏뿍뮧ꆣ퓚튵컱맘쾵돖탸쪱볤짙폚6쓪뗄ퟓ퇹놾훐,웳튵뛔춨맽짧믡맘쾵췸싧죏쪶뗄뗚뛾듳뿍뮧믡짙쫕좡11108%뗄풤뢶뿮;뛸퓚뫏ퟷ맘쾵뎬맽6쓪뗄퇹놾훐,헢룶뇈샽캪12188%ꆣ솽ퟩ믘맩쾵쫽뗄닮틬늢늻쿔훸ꆣ풭틲뿉쓜쫇짧믡맘쾵췸싧룼뛠뗘랢믓쇋돖탸뗄볠뚽뫏춬싄탐뗄ퟷ폃,뛸럇뷶뷶뻖쿞퓚튵컱뾪쪼돵웚뷩짜뿍뮧룸웳튵죏쪶뗄ꋙ컒쏇뮹뾼싇쇋웤쯼뗄럖샠틀뻝,죧3쓪ꆢ9쓪뗈,떫쫇Tobit믘맩맽돌뻹늻쫕솲ꆣ91' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
샮ꆡ쳎ꆢ샮ꆡ뫬:쮫랽맘쾵ꆢ맘쾵췸싧ꆢ램풺폫헾뢮:훐맺럇맺폐웳튵볤탅죎뗄퇐뺿뷇즫ꆣ퓚튵컱뫏ퟷ맘쾵뎬맽6쓪뗄ퟓ퇹놾훐,죧맻웳튵죏캪쎻폐죎뫎냬램뿉틔풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧,쓇쎴쯼쿲뗚뛾듳뿍뮧뛠쫕좡43%뗄풤뢶뿮;뛸퓚튵컱돖탸쪱볤늻ퟣ6쓪뗄ퟓ퇹놾훐,뷡맻늢늻쿔훸ꆣ솽ퟩ믘맩쾵쫽뗄닮틬췪좫쿔훸ꆣ헢쮵쏷쇋웳튵룼볓퓚틢쯦ퟅ뎤쪱볤뗄튵컱붻췹늻뛏퓶볓뗄튵컱솿볓듳쇋튵컱훐뛏떼훂뗄뿉쓜쯰쪧,뛸럇돵쪼뗄뷰떣놣ꆣ퓚뫏ퟷ쪱볤뎬맽6쓪뗄ퟓ퇹놾훐,웳튵폫뗚뛾듳뿍뮧횮볤뗄뻀럗탅쾢퓚웤쯼뿍뮧훐뗄폐킧삩즢쪹뗃웳튵짙쫕좡13168%뗄풤뢶뿮;뛸퓚튵컱돖탸쪱볤늻ퟣ6쓪뗄ퟓ퇹놾훐쎻폐쿔훸랢쿖ꆣ떫쫇,솽ퟩ쾵쫽뗄닮틬늢늻쿔훸ꆣ뇭2믹폚쾸럖퇹놾뗄죽ퟩTobit믘맩뷡맻(1)(2)(3)폫뗚뛾듳뿍뮧튵컱맘쾵돖탸쪱볤춨맽뛏뻸짌튵살췹뷢뻶뻀럗춨맽램풺살뷢뻶뻀럗늻뎬맽6쓪뎬맽6쓪뗈볛볬퇩늻뿉틔뿉틔뗈볛볬퇩늻뿉틔뿉틔뗈볛볬퇩01377333328104053331713227761338813bilateral(0110)(2195)(-2181)(1198)(2136)(-1102)-813333339822-2136753-319971-919865-114598333-81990433competitors-1(-3129)(-0165)(-1174)(-1153)(-2175)(-0161)(-0144)(-4100)(-2103)333-1214146-219962333333-517271-1615043-511561-713336511competitors-2(-4118)(-0168)(-2133)(-1196)(-3182)(-0190)(-1148)(-3154)(-1135)-1113333333333333330828-1218827-61336943-1119945-1210976-1016095family-inf(-3163)(-2198)(-0126)(-2130)(-3145)(-1135)(-3171)(-4102)(0186)3187283334310053333817677332814436noway(0177)(2196)(-2175)(0185)(2123)333-516249-1316762-41484233-618085-919398-5133328333information-to-others(-1141)(-2182)(0198)(-1130)(-1129)(-2125)(-1181)(2160)맛닢횵(좫늿)143771219912793맛닢횵(럇뷘캲쫽뻝)694870476354PseudoR2010796011007010832011176010930011579ꆡꆡ힢:럖컶쪹폃쇋쮫뇟뷘캲쫽뻝뗄Tobit믘맩랽램,컒쏇믣놨쇋믹폚럇뷘캲쫽뻝뗄룷뇤솿뗄뇟볊킧맻ꆣ삨뫅훐쫇3t춳볆뷡맻,33333(,)럖뇰뇭쪾믘맩쾵쫽뗄쿔훸탔돌뛈듯떽쇋90%(95%,99%)ꆣ믘맩쾵쫽뗈볛볬퇩뗄뷡맻럖뇰믣놨쇋믹폚쿔훸탔쾵쫽뗄뗈볛볬퇩쿔훸탔돌뛈뫍뗈볛볬퇩뗄t춳볆뷡맻ꆣ쯹폐뗄믘맩럖컶뚼뿘훆쇋탐튵뫍뗘쟸탩쓢뇤솿ꆢ웳튵뫍뺭샭죋쳘헷틔벰뗚뛾듳뿍뮧쳘헷ꆣ평폚1999쓪웳튵쇷뚯뷰풼쫸돌뛈뗄쓚짺탔뿉쓜,컒쏇퓚럖컶훐닉폃쇋웳튵퓚1998쓪쫇럱믱뗃틸탐듻뿮뗄탩쓢뇤솿살뾼달뷰풼쫸뗄뿉쓜펰쿬ꆣ욪럹쯹쿞,헢샯캴룸돶웤쯼뇤솿뗄믘맩뷡맻뫍쿔훸탔볬퇩ꆣ췪헻뷡맻뿉틔살탅쯷좡ꆣ웤듎,룹뻝웳튵쫇럱죏캪뿉틔춨맽훐뛏붫살뗄튵컱살풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧,컒쏇냑헻쳥퇹놾쾸럖캪뛔쮫랽맘쾵믺훆폐탅탄뫍쎻폐탅탄솽룶ퟓ퇹놾ꆣ뗚(2)ퟩ믘맩뷡맻ퟜ뷡쇋폐맘랢쿖ꆣ퓚뛔쮫랽맘쾵믺훆뻟폐탅탄뗄ퟓ퇹놾훐,퓚뷶폐1볒뺺헹뛔쫖뗄쟩뿶쿂,웳튵믡쿲뗚뛾듳뿍뮧짙쫕좡9199%뗄풤뢶뿮,뛸퓚훁짙듦퓚2볒뺺헹뛔쫖뗄쳵볾쿂,헢룶뇈샽룟듯16150%;퓚뛔쮫랽맘쾵믺훆좱랦탅탄뗄ퟓ퇹놾훐,퓚훁짙듦퓚2볒뺺헹뛔쫖뗄쳵볾쿂,웳튵뷶믡쿲뗚뛾듳뿍뮧짙쫕좡5173%뗄풤뢶뿮ꆣ짏쫶쾵쫽뗄닮틬늢늻쿔훸,틲듋퓚뻶뚨탅죎돌뛈쪱,쮫랽맘쾵믺훆폫웳튵쏦쇙뗄뺺헹뮷뺳쫇쿠뮥뛀솢뗄ꆣ퓚쯹폐뗄ퟓ퇹놾훐,웳튵뚼믡쿲춨맽짧믡맘쾵췸싧죏쪶뗄뗚뛾듳뿍뮧쫕좡뷏뗍뇈샽뗄풤뢶뿮,웤훐쿠탅쮫랽맘쾵믺훆뗄ퟓ퇹놾훐캪11199%,뛸쇭췢뗄ퟓ퇹놾훐캪92' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
2004쓪뗚11웚6169%ꆣ솽ퟩ쾵쫽닮틬늢늻쿔훸,틲듋짧믡맘쾵췸싧뛔탅죎돌뛈뗄ퟷ폃늻쫜쮫랽맘쾵믺훆뗄펰쿬,쯼쏇튲뮥쿠뛀솢ꆣퟮ뫳,룹뻝웳튵쫇럱죏캪램풺뿉틔풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧,컒쏇냑헻쳥퇹놾쾸럖캪뛔램풺폐탅탄뫍쎻폐탅탄솽룶ퟓ퇹놾ꆣ뗚(3)ퟩ믘맩뷡맻ퟜ뷡쇋폐맘랢쿖ꆣ늻싛쫇퓚뛔램풺쎻폐탅탄뮹쫇폐탅탄뗄ퟓ퇹놾훐,웳튵뛔쓜럱춨맽훐뛏캴살튵컱맘쾵살풼쫸믺믡훷틥탐캪뗄탅쓮뚼붵뗍쇋쯼쏇쿲뗚뛾듳뿍뮧쫕좡뗄풤뢶뿮뇈샽ꆣ퓚잰헟ퟓ퇹놾훐캪17123%;뛸퓚뫳헟ퟓ퇹놾훐캪6188%ꆣ틔짏쾵쫽닮틬늢늻쿔훸,틲듋쮫랽맘쾵믺훆폫램풺믺훆퓚뻶뚨탅죎쪱뗄ퟷ폃쫇뛀솢뗄ꆣ퓚쿠탅램풺믺훆뗄ퟓ퇹놾훐,퓚뷶폐1볒뺺헹뛔쫖뗄쟩뿶쿂,웳튵믡쿲뗚뛾듳뿍뮧짙쫕좡8199%뗄풤뢶뿮,뛸퓚훁짙듦퓚2볒뺺헹뛔쫖뗄쳵볾쿂,헢룶뇈샽복짙캪7165%;뛸퓚뛔램풺믺훆좱랦탅탄뗄ퟓ퇹놾훐,뺺헹뮷뺳뗄ퟷ폃늻쿔훸ꆣ뇈뷏솽ퟩ쾵쫽,뷶폐폐맘1볒뺺헹뛔쫖뗄랢쿖퓚늻춬퇹놾훐닮틬쿔훸,헢쮵쏷쇋웳튵뗄쫊훐뺺헹뮷뺳폫램풺믺훆퓚쳡룟탅죎돌뛈쪱뮥캪늹돤ꆣ퓚솽룶ퟓ퇹놾훐,웳튵뚼믡쿲춨맽짧믡맘쾵죏쪶뗄뗚뛾듳뿍뮧쫕좡뷏짙뗄풤뢶뿮ꆣ웤훐,퓚늻쿠탅램풺믺훆뗄쟩뿶쿂,헢튻뇈샽캪12110%;뛸퓚쿠탅램풺믺훆뗄쳵볾쿂,쿠펦뇈샽캪10161%ꆣ솽ퟩ쾵쫽뗄닮틬늢늻쿔훸,틲듋짧믡맘쾵췸싧폫램풺믺훆퓚뻶뚨탅죎돌뛈쪱쿠뮥뛀솢ꆣ춬퇹,웳튵폫뗚뛾듳뿍뮧횮볤뗄뻀럗탅쾢퓚웤쯼뿍뮧훐뗄폐킧삩즢뚼붵뗍쇋웳튵쫕좡뗄풤뢶뿮뇈샽ꆣ웤훐,퓚늻쿠탅램풺믺훆뗄ퟓ퇹놾훐,헢튻뇈샽캪9194%,뛸퓚쿠탅램풺믺훆뗄ퟓ퇹놾훐,뛔펦뇈샽캪5133%ꆣ틔짏쾵쫽뗄닮틬췪좫쿔훸,헢쮵쏷쇋뻀럗탅쾢퓚뿍뮧훐뗄삩즢폫램풺믺훆퓚뻶뚨탅죎돌뛈쪱쿠뮥쳦듺ꋙꆣ쯄ꆢ뷡ꆡ싛틔훐맺뗄쏱펪웳튵캪샽,놾컄뾼달쇋탍뺭볃훐웳튵볤탅죎돌뛈뗄룷훖뻶뚨틲쯘,듓뛸쪵횤볬퇩쇋ꆰ쮫랽맘쾵싛ꆱꆰꆢ맘쾵췸싧싛ꆱꆰꆢ램풺싛ꆱ틔벰ꆰ헾뢮싛ꆱ뗄폐맘싛쫶,늢뾼달쇋짏쫶믺훆뗄ퟷ폃쟾뗀틔벰룷훖믺훆볤뗄쿠뮥맘쾵ꆣ헻쳥퇹놾뗄Tobit믘맩뷡맻쿔쪾,죧맻웳튵죏캪캴살튵컱맘쾵뗄훐뛏쓜릻돍랣뿍뮧뿉쓜뗄믺믡훷틥탐캪,믲헟죏캪컞램뷢뻶뿉쓜뗄뫏춬뻀럗,쓇쎴쯼쏇뛔뗚뛾듳뿍뮧뗄탅죎돌뛈뷏뗍ꆣ쿠랴,웳튵쏦쇙뗄뺺헹뮷뺳풽벤쇒,웳튵춨맽짧믡맘쾵췸싧죏쪶뿍뮧,믲헟웳튵죏캪쯼쏇폫뗚뛾듳뿍뮧뻀럗탅쾢퓚웤쯼뿍뮧훐쓜릻폐킧삩즢,쓇쎴탅죎돌뛈풽룟ꆣ틔짏랢쿖쿠떱컈뚨ꆣ틲듋ꆰ쮫랽맘쾵싛ꆱ뫍ꆰ맘쾵췸싧싛ꆱ뗄맛뗣뗃떽쇋횧돖,뛸컒쏇쎻폐헒떽ꆰ램풺싛ꆱ뫍ꆰ헾뢮싛ꆱ뗄횤뻝ꆣ쾸럖퇹놾뗄Tobit믘맩뷡맻ퟜ뷡쇋틔짏믺훆뛔탅죎돌뛈뗄훷튪펰쿬쟾뗀ꆣ웤훐,쮫랽맘쾵믺훆뗄ퟷ폃쳥쿖캪웳튵떣탄뎤웚튵컱맘쾵훐뛏떼훂뗄듳솿늻뿉믘쫕뗄폃탔춶쯰쪧;벤쇒쫐뎡뺺헹뗄펰쿬뇭쿖퓚웳튵춨맽복짙풤뢶뿮뇈샽살컼틽탂뿍뮧;짧믡맘쾵췸싧뗄펰쿬쳥쿖캪쯼돖탸뗘볠뚽뫏춬싄탐;웳튵뛔룷훖뻀럗풼쫸믺훆좱랦탅탄뗄ퟷ폃랴펳퓚쯼쏇떣탄튵컱훐뛏뗄쯰쪧믡쯦ퟅ뫏ퟷ쪱볤뗄퇓뎤뛸퓶볓;뛸뻀럗탅쾢퓚웤쯼뿍뮧훐뗄삩즢뗄펰쿬볈쳥쿖퓚웆뮵뿍뮧뛌웚쓚붨솢짹폾뗄뎢쫔,튲뇭쿖캪쯰몦뿍뮧캬뮤뎤웚짹폾뗄얬솦ꆣ듋췢,퓚뻶뚨탅죎돌뛈쪱,웳튵폫뗚뛾듳뿍뮧뗄쮫랽맘쾵믺훆뛀솢폚웳튵쏦쇙뗄뺺헹뮷뺳ꆢ짧믡맘쾵췸싧뫍램풺믺훆;웳튵쏦쇙뗄쫊훐뺺헹뮷뺳폫램풺믺훆뮥캪늹돤;짧믡맘쾵췸싧폫램풺믺훆쿠뮥뛀솢;뛸뻀럗탅쾢퓚뿍뮧훐뗄삩즢폫램풺믺훆뮥캪쳦듺ꆣ퇐뺿뗄헾닟몬틥퓚폚:쫗쿈,쿻돽룷훖ퟨ낭쫐뎡뺺헹뗄틲쯘,돤럖랢믓짧믡맘쾵췸싧뗄ퟷ폃,붨솢탅쾢삩즢뗄춨뎩쟾뗀,헢킩뚼쓜릻쳡룟웳튵볤뗄탅죎돌뛈ꆣ웤듎,쯤좻쮾램쳥쾵뗄룄룯폫췪짆믡ꋙ평폚죏캪헾뢮뿉틔풼쫸랢짺뫏춬뻀럗뗄웳튵폫뿍뮧뗄웳튵쫽뫜짙(뷶폐3볒),컒쏇늻쓜퓚쾸럖퇹놾뗄볬퇩훐냼삨헾뢮틲쯘ꆣ듋췢,퓚닉폃짧믡맘쾵췸싧캪뮮럖뇪ힼ쪱,Tobit믘맩맽돌쓑틔쫕솲,틲듋컒쏇튲캴닉폃헢훖뮮럖랽쪽ꆣ93' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
샮ꆡ쳎ꆢ샮ꆡ뫬:쮫랽맘쾵ꆢ맘쾵췸싧ꆢ램풺폫헾뢮:훐맺럇맺폐웳튵볤탅죎뗄퇐뺿퓶잿쫊뛈뗄쫐뎡뺺헹쳡룟탅죎돌뛈뗄ퟷ폃,떫쫇,쯼튲믡붵뗍탅쾢춨맽럇헽쪽쟾뗀삩즢뛔탅죎돌뛈뗄릱쿗;틲듋,쮾램쳥쾵룄룯펦떱뾼싇떽뛾헟퓚캬뮤웳튵볤탅죎쪱뗄튻룶ퟮ폅욽뫢,헢뿖엂튲룸램싉뗄늻췪놸탔쳡릩쇋튻룶짧믡놾뗄힢뷅ꆣ닎뾼컄쿗폠뗈,2002ꆶ:탐튵킭믡벰웤퓚훐맺뗄랢햹:샭싛폫낸샽ꆷ,뺭볃맜샭돶냦짧,놱뺩ꆣ헅캬펭,2002ꆶ:램싉훆뛈뗄탅폾믹뒡ꆷꆶ,뺭볃퇐뺿ꆷ,뗚1웚ꆣ헅캬펭ꆢ뿂죙힡,2002ꆶ:탅죎벰웤뷢쫍:살ퟔ훐맺뗄뿧쪡뗷닩럖컶ꆷꆶ,뺭볃퇐뺿ꆷ,뗚10웚ꆣCooter,R.,,1982,BargainingintheShadowoftheLaw:ATestableModelofStrategicBehavior,JournalofLegalStudiesXI(2),225ꆪ,,2004,SocialCapital,,F.,1995,Trust:theSocialVirtuesandtheCreationofProsperity,TheFreePress,,,1996,CooperationinCommunityInteractionwithoutInformationFlows,ReviewofEconomicsStudies63,491ꆪ,A.,1993,ContractEnforceabilityandEconomicInstitutionsinEarlyTrade:TheMaghribiTradersCoalition,AmericanEconomicReview83,525ꆪ,A.,,,1994,Coordination,Commitment,andEnforcement:TheCaseoftheMerchantGuild,JournalofPoliticalEconomy102,745ꆪ,,2003,WhichMechanismsSupporttheFulfillmentofSalesAgreements?AskingDecision2MakersinFirms,,K.,,,1999,Law,Relationships,andPrivateEnforcement:TransactionalStrategiesofRussianEnterprises,,S.,,,2000,EntrepreneursandtheOrderingofInstitutionalReform:Poland,Slovakia,Romania,RussiaandUkraineCompared,EconomicsofTransition8,1ꆪ,S.,,,2002,CourtsandRelationalContracts,JournalofLaw,EconomicsandOrganization18,221ꆪ,B.,1996,WhyHold2UpsOccur:TheSelf2EnforcingRangeofContractualRelationships,EconomicInquiry34,444ꆪ,B.,,1978,VerticalIntegration,AppropriateRents,andtheCompetitiveContractingProblem,JournalofLawandEconomics21,297ꆪ,J.,2001,HonestyandTrustintheLightofthePost2SocialistTransition:SomeIdeasArisingfromtheꆰHonestyandTrustꆱResearchatCollegiumBudapest,,R.,1996,ReciprocalExchange:ASelf2SustainingSystem,AmericanEconomicReview86,830ꆪ,S.,1963,Non2ContractualRelationsinBusiness:APreliminaryStudy,AmericanSociologicalReview28,55ꆪ,,1999a,InterfirmRelationshipsandInformalCreditinVietnam,QuarterlyJournalofEconomics114,1285ꆪ,,1999b,DisputePreventionwithoutCourtsinVietnam,JournalofLaw,Economics,andOrganization15,637ꆪ,Yingyi,2001,GovernmentalControlinCorporateGovernanceasaTransitionalInstitution:LessonsfromChina,,eds.,,295ꆪ,M.,,,2003,TrustinTransition:Cross2CountryandFirmEvidence,ꢦ,B.,1997,TheEconomicsofContracts:APrimer,,,1998,TheGrabbingHand:GovernmentPathologiesandTheirCures,Cambridge,MA:,J.,1999,StartingSmallandRenegotiation,JournalofEconomicTheory85,52ꆪ,.,1985,TheEconomicInstitutionsofCapitalism:Firms,Markets,RelationalContracting,NewYork:,C.,2002,EstablishingConfidenceinBusinessPartners:Courts,Networks,andRelationshipsasPillarsofSupport,' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
2004쓪뗚11웚BilateralRelationship,RelationshipNetwork,Courts,andGovernments:AnEmpiricalStudyonTrustamongChinaꆯsPrivateEnterprisesLiTao(LingnanCollegeattheSunYat-SenUniversity)LiHong(MinistryofLaborandSocialSecurity)Abstract:Utilizingasampleof220privateenterprisesacrossfourprovincesinChina,thispaperempiricallyinvestigatesthefactorsaffectingtheleveloftrustamongprivateenterprises,,fiercecompetition,socialnetwork,andefficientinformationdisclosureallpositivelyaffectthelevelofenterprisestrustingtheirsecondlargestclients,,andmightsubstitute,complement,ꆰbilateralrelationshipviewꆱandꆰrelationshipnetworkviewꆱ,whilerejectꆰcourtsviewꆱandꆰgovernmentsviewꆱ:first,suitablecompetition,widelyuseofsocialnetwork,andeffectiveinformationdisclosureshouldbeguaranteed;second,legalreformcouldexertcompleximpactontheroleofcompetitionandinformationdisclosureindeterminingtrust,:Bilateralrelationship;Relationshipnetwork;Courts;Governments;TrustJELClassification:K00,L14,P30,Z13(퓰죎뇠벭:싞ꆡ쇖)(킣뛔:ퟓꆡ)(짏뷓뗚84튳)ꆡꆡSandraPoncet,2002,DomesticMarketFragmentationandEconomicGrowth,WorkingPaper,CERDI,Universitꢦ,2003,MeasuringChineseDomesticandInternationalIntegration,ChinaEconomicReview14,1ꆪ,1994,China:,,Xinpeng,2002,HavetheChineseProvincesBecomeIntegratedunderReform?ChinaEconomicReview13,116ꆪ,A,2000,TheRazorꆯsEdge:DistortionsandIncrementalReforminChina,QuarterlyJournalofEconomics,115,1091ꆪ,HouYongzhi,LiuYunzhong&ChenBo(DepartmentofDevelopmentStrategyandRegionalEconomy,DevelopmentResearchCentre,StateCouncil)Abstract:,:LocalProtection;RegionalEconomics;QuestionnaireSurveyJELClassification:H290,J610,O180(퓰죎뇠벭:횣ꆡ붡)(킣뛔:쿾ꆡ언)95' 1994-2009 China Academic Journal Electronic Publishing House. All rights reserved.
