مقاله انگلیسی رایگان در مورد تحلیل پویا در ساختار بازار صنعت زغال سنگ چین (الزویر)

As China’s basic energy, coal plays an important role in China’s economic development and national energy security. Throughout the history of China’s coal industry, the market structure of low concentration has been a major obstruction for the development of the coal industry. As the state had actively developed small coal mines from the early 1980s to the middle of 1990s, state key coal mines, local state coal mines, and small coal mines of all types were accounted for 36.6%, 16.3% and 47.1% of the total output and concentration ratio of the top eight companies was only 11% (Fig. 1), belonging to decentralized competitive market structure in 1997. Since then, China coal industry has become the “small, scattered, chaotic” market structure. Since the late 1990s, low concentration brings about increasingly serious negative effects, including frequent accidents, low technology, disordered production and surplus production driven by a large number of small mines especially illegal ones. With the outbreak of the Asian financial crisis in 1997, China’s coal industry was seriously threatened with massive overcapacity and a loss of 400 and 1800 million yuan respectively in 1998 and 1999. With the booming coal demand from 2002 to 2012, coal enterprises had made increased profit gradually. However, the low concentration and decentralized operation led to unordered competition, dramatically increasing coal production and enormous waste of resources, which damage the basis of the long-term development in the coal industry (Wang, 2012). At present, as China’s coal market has turn into a rapidly descending channel, the excessive competition in this market structure has generated price-cutting among coal enterprises, which in turn results in a sharp decline in coal prices and profit with the negative profit growth rate from 2012 to 2015, especially −65% in 2015. In conclusion, the market structure of low concentration has a negative effect on market performance, including lower technology and safety level and excessive competition, which in return caused dramatically increasing production in economic boom and price-cutting among coal enterprises in economic recession. Furthermore, as the core topic in industry organization theory, there are abundant researches on the relationship between market structure and market performance. Since the hypothesis, the former depends the latter, was put forward in 1959 (Bain, 1959), the positive relationship of concentration ratio, a common indicator of market structure and market performance is verified in banking, insurance, manufacturing and so on (Rhoades, 1982; Frame and Kamerschem, 1997; Maudos, 1996; Bajtelsmit and Bouzouita, 1998; Jacquemin et al., 1980; Conyon, 1995; Gerard et al., 1999), but instability causal, non-monotone linear or negative relationship is found in a few researches (Zaralis, 1991; Yoon, 2004; Bloch, 1994). As for China’s coal industry, current researches have a consensus on the benefit of higher concentration ratio to market performance. Chen and Zhou (2010) conclude this positive relationship and the profits from efficiency rather than market power by CDW. Li et al. (2007) finds that higher concentration ratio has significant and positive effect to improve the performance of profit and safety.