Abstract Based on the panel data from 1998 to 2013, this paper studies the impact and mechanism of the rise of urban agglomeration on the competitiveness of enterprises, and analyzes the heterogeneity of the rise of urban agglomeration to promote the competitiveness of enterprises due to the difference of transaction cost constraint. The research finds that the rise of urban agglomeration has significantly improved the competitiveness of enterprises in terms of industrial added value, sales output value, profit and investment. For industries that are less constrained by transaction cost, the spillover effect exerted by the rise of urban agglomeration will have more obvious effect on enterprises competitiveness. The reduction of transaction cost mainly promotes the improvement of the competitiveness of enterprises by the development model of intensive urban agglomeration. The decline in transaction cost in the industrial sector(especially industrial inputs) has greater impact on the rise of urban agglomeration to promote enterprises competitiveness than other sectors. Excellent business environment will also expand the impact of the rise of urban agglomeration and the reduction of transaction cost on the competitiveness of enterprises. The rise of urban agglomeration promotes the enterprises competitiveness through Marshall externality, innovation externality and financing externality, and plays a greater role in promoting industries with lower transaction cost.
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