Un-incorporated firms are usually found less productive than their incorporated counterparts. However, little is known about the misallocation conditional on firms’ incorporation status and their productivity. This paper investigates the resource misallocation across un-incorporated firms and gauges the consequent aggregate productivity loss in comparison with their incorporated counterparts. We examine the question by using firm-level survey data from Sri Lanka’s manufacturing sector for 2005–2017 that provide unique information about firms’ corporation status. Our findings suggest that misallocation is more severe in unincorporated firms than in incorporated ones, leading to extra 42 % aggregate TFP loss to the former. By comparing the sources of misallocation between the two types of firms, we find capital is more misallocated relative to output and there is a stronger positive correlation between firm-specific distortion and productivity across the unincorporated firms. Our findings suggest that the un-incorporated firms suffer additional productivity loss at the aggregate level due to misallocation.

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取消注册和有条件的不当分配：来自斯里兰卡的公司层面的证据

非法人公司的生产力通常低于法人公司。然而，人们对以企业的注册状况及其生产率为条件的错配知之甚少。本文研究了非公司企业之间的资源错配，并与法人公司相比，衡量了由此产生的总体生产力损失。我们使用 2005 年至 2017 年斯里兰卡制造业的企业级调查数据来研究这个问题，这些数据提供了有关企业法人地位的独特信息。我们的研究结果表明，非法人企业的错配比法人企业更为严重，导致前者的 TFP 总损失额外增加 42%。通过比较两类企业之间的错配来源，我们发现，资本相对于产出的配置更加不当，并且非公司企业的特定扭曲与生产率之间存在更强的正相关性。我们的研究结果表明，非公司制企业由于配置不当而在总体水平上遭受了额外的生产力损失。