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人民健康是经济发展与繁荣的前提条件。本文以我国资本市场2003—2019年上市公司为研究样本，手工整理上市公司所在城市颁布以及进一步修订禁烟法令的具体时间，利用我国城市禁烟法令颁布对员工工作环境产生的外生变化来考察其如何影响公司的全要素生产率。借助我国城市禁烟法令颁布在时间和空间上错列发生的特征构建准自然实验情境，本文使用双重差分方法的检验结果表明禁烟法令的颁布能够促使公司全要素生产率提高。研究发现，工作环境改善所带来的劳动生产率提高、人力资本以及公司创新能力的提升是禁烟法令颁布提高公司全要素生产率的重要渠道。进一步分析发现，对于劳动密集程度较高、融资约束较大以及非产业政策重点支持的公司，禁烟法令的颁布使得公司全要素生产率有较大提升。本文研究不仅为公司全要素生产率的影响因素问题提供了新的解释视角，还对理解我国城市禁烟法令颁布的经济效应具有一定的启示。
Abstract：Health is a precondition for economic development and prosperity. This paper takes the listed companies in Chinese capital market from 2003 to 2019 as the research sample, manually collates the specific time when the cities where the listed companies are located promulgated and further revised the Smoking Bans Legislation(SBL), and examines how the exogenous changes of the working environment caused by the promulgation of SBL in China affect the corporate total factor productivity(TFP). Building a quasi-natural experiment based on the staggered promulgation of SBL, the results of difference-in-differences method suggest that the promulgation of SBL increases the TFP significantly.Moreover, the improvement of labor productivity, human capital and the corporate innovation ability are important channels. Further tests suggest that for the corporations with higher labor intensity, larger financing constraints and non-key supporting industries of industrial policies, the SBL resulted in more TFP increase. This paper not only provides a new perspective to explain the influence factors of TFP, but also shed light on how to understand the economic effect of the promulgation of SBL in Chinese cites.
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(1)由于金融、保险行业公司与非金融行业内公司在经营模式、政府管制等方面都存在较大的系统性差异，故将金融、保险行业剔除。
(1)Wang等（2021）在错层准自然实验的情景下使用同样的方法考察了股票回购合法化对公司行为的影响。
(1)如上海市在2010年颁布的《上海市公共场所控制吸烟条例》允许在企业内部特定的通风区域设置吸烟区，后又于2017年进行了更为严格的修订，企业单位室内区域实行全面禁烟，不再允许设置吸烟区。
(2)2016年无烟上海健康传播项目沟通会上，与会专家认为，在室内工作场所设置吸烟室是一再被证明的无效措施，必须摒弃。美国采暖、制冷和空调工程师学会发表声明，没有任何技术方法能控制环境烟草烟雾所造成的健康风险。有效消除与室内烟草烟雾暴露相关的健康风险的唯一方法是全面禁止吸烟行为。
(1)由于被解释变量为行业-年度层面的劳动市场率，因此将固定效应的控制相应地更换为行业固定效应与年度固定效应。
(2)iFinD的员工结构数据从2007年开始，故在此检验的样本区间为2007-2019年。
(1)CSMAR的研发投入数据从2007年开始，故在此检验的样本区间为2007-2019年。
(2)SA=?0.737×lnAsset+0.043×lnAsset 2?0.04×Age，其中，lnAsset为公司总资产（百万元）的自然对数，Age表示公司年龄，使用公司成立年数的自然对数衡量。
(1)因篇幅所限，稳健性检验结果以附表1展示，见《统计研究》网站所列附件。
基本信息:
DOI：10.19343/j.cnki.11-1302/c.2023.02.010
中图分类号:F832.51;D922.16
引用信息:
[1]陈胜蓝,王鹏程.我国城市禁烟法令与公司全要素生产率——基于准自然实验的研究[J].统计研究,2023,40(02):132-144.DOI:10.19343/j.cnki.11-1302/c.2023.02.010.
基金信息:
国家社会科学基金后期资助项目“经济政策变革、数字化转型与企业决策研究”; 浙江省社会科学领军人才培育专项课题“经济‘双循环’下流动性风险的跨市场传染及对策研究”（21YJRC07ZD）
2022-12-29
2022-12-29
2022-12-29