3270 
3099在双循环格局和全国统一大市场建设的新时代背景下，跨区域配置要素构成微观企业能否抓住发展机遇的关键选择。文章研究中国企业集团的资本要素异地配置对其整体投资效率的影响作用，研究发现：借助全国统一大市场的制度红利，企业集团的资本异地配置能够提升子公司层面的现金资源使用成效，从而对集团整体投资效率产生优化作用，具体表现为弥补投资不足和抑制投资过度；进一步研究发现，前述影响作用在集团内部信息流动通畅、内部管控水平较高以及金字塔结构较为扁平的情况下更加明显，而资本要素异地配置最终有助于提升集团整体的市场价值和生产能力。研究表明我国企业实施跨区域投资能够更好地融入以国内大循环为主体、国内国际双循环相互促进的新发展格局，这不仅有力支持党的二十大报告中“构建全国统一大市场”的改革方向，而且为双循环下我国企业集团更好地融入全国统一大市场以优化资本投资效率提供了实现路径。
企业集团的资本要素异地配置与投资效率优化研究——基于全国统一大市场建设的新时代情境
摘要
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引用本文
胡芊芊, 马新啸, 栗宇丹, 等. 企业集团的资本要素异地配置与投资效率优化研究——基于全国统一大市场建设的新时代情境[J]. 上海财经大学学报, 2022, 24(6): 18-31.
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