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【中文摘要】 近来伴随着全球金融危机的进一步加剧,长期困扰我国钢铁业的重复建设问题更加突出。这种由钢铁企业投资趋同性所导致的重复建设问题引发各方关注,却迟迟未能得到有效解决。本文从研究企业行为入手,强调企业的羊群行为是重复建设或产能过剩的发生基础,并以此探讨治理重复建设问题的政策建议。因此,本文是在对国内外相关文献研究的基础上,以钢铁企业投资的羊群行为作为研究视角,针对钢铁企业投资趋同性所导致重复建设问题进行了更加深入的研究。本文首先通过对中国钢铁产业与国外钢铁产业进行比较研究,得出中国地域型市场结构的特点。在此基础上对形成这种地域型市场结构原因进行深入分析,从我国钢铁产业的历史演进出发提出路径依赖观点,包括技术性路径依赖和制度性路径依赖。一方面,技术路径依赖的存在,不仅形成了我国钢铁产业整体技术水平、企业数量和生产规模现状,而且决定了我国钢铁产业的市场结构:另一方面,制度性路径依赖和当前的体制约束决定了钢铁企业的投资行为特征。根据大型钢铁企业的投资行为特点建立混合战略博弈模型。通过模型深入的分析大型钢铁企业的投资趋同性和羊群效应的发生机制。并对区域内存在两个大型钢铁企业的情况进行算例分析,通过严密...更多的数学推导过程证明了钢铁企业之间的投资趋同性。在实证研究中,本文首先对上市样本企业所处的市场区域进行了判定,在此基础上,通过财汇金融分析平台和财务年报收集相关的数据,对理论部分所提出的各区域内大型钢铁企业之间投资行为的相互影响性假说展开实证分析,验证了钢铁企业投资趋同性以及在钢铁企业国有持股比例不同对钢铁企业投资扩张规模的影响差异。最后,论文对治理我国钢铁产业重复建设问题提出了若干政策建议。 

【英文摘要】 Recently, as the situation of global financial crisis getting worse, the problem of redundant construction in Chinese iron and steel industry which troubles us a long time becomes more prominent. The governments have paid much attention to this redundant construction problem caused by steel enterprises investing convergence, but failed to resolve it effectively. This article starts from the study of the enterprises action, emphasizes that the herding behavior of enterprises is the foundation of redundant construction or excess capacity. It also seeks the endogenous factors which cause industries to enter excessively, and explores policy suggestions in management of the redundant construction. Therefore, in the basis of studying domestic and foreign relevant literatures, make more in-depth study in the repeated construction caused by investment convergence of steel enterprise.This paper bases on the comparative study of our steel industry and foreign steel industry, and obtain the chara...cteristics of our regional type of market structure. On the basis of this, it makes a deep analysis of the reasons in forming the regional type of market structure, and from the historical evolution of Chinese iron and steel industry, it puts forward the views of path dependence which includes technical path dependence and institutional path dependence. Establishes game theoretical models, namely, a phase of large-scale steel enterprises of the mixed strategically game. Through the model, it makes a more in-depth analysis of investment in large-scale steel enterprises convergence and makes a example analysis of the two large steel enterprises in the region, and proves the investment convergence between the steel enterprise through rigorous mathematical derivationIn the empirical study, this article firstly makes a judgment on the market region of the sample listed companies. On this basis, through financial analysis platform and the collected data from Finance Department, it analyzes on the interaction hypothesis in according to theoretical area within a large steel corporate investment behavior, and prove the herd behavior as well as steel enterprises to invest in state-owned whose stakes differently that cause different impact on the scale of the investment of steel enterprises .Finally, the thesis puts forward several policies on the management of the redundant construction in Chinese iron and steel industry. 

【中文关键词】 钢铁产业; 重复建设; 羊群效应; 路径依赖; 不完全信息
【英文关键词】 Iron and Steel Industry; Redundant Construction; Herding Effect; Path Dependence; Incomplete Information