主讲人：Jing Cai（University of Maryland）
题目：Interfirm Relationships and Business Performance
摘要：We organized business associations for the owner-managers of randomly selected young Chinese firms to study the effect of business networks on firm performance. We randomized 2,800 firms into small groups whose managers held monthly meetings for one year, and into a “no-meetings” control group. We find that: (1) The meetings increased firm revenue by 8.1 percent, and also significantly increased profit, factors, inputs, the number of partners, borrowing, and a management score; (2) These effects persisted one year after the conclusion of the meetings; and (3) Firms randomized to have better peers exhibited higher growth. We exploit additional interventions to document concrete channels. (4) Managers shared exogenous business-relevant information, particularly when they were not competitors, showing that the meetings facilitated learning from peers. (5) Managers created more business partnerships in the regular than in other one-time meetings, showing that the meetings improved supplier-client matching. (6) Firms whose managers discussed management, partners, or finance improved more in the associated domain, suggesting that the content of conversations shaped the nature of gains.
Jing Cai is an Assistant Professor in the Department of Agricultural and Resource Economics at the University of Maryland. She was an assistant professor of Economics at the University of Michigan before joining Maryland. She received her PhD from the University of California at Berkeley in 2012. She is a Research Fellow at the National Bureau of Economic Research (NBER), an affiliate of the Bureau for Research and Economic Analysis of Development (BREAD), and an affiliated professor at the Abdul Latif Jameel Poverty Action Lab (J-PAL). Her research areas are development economics, Chinese economy, and household finance. Her current research examines the diffusion and impacts of financial innovations in developing countries, growth of micro-enterprises and SMEs, and impacts of tax incentives on firm behavior. Personal webpage:https://sites.google.com/site/caijing516/