数字金融发展与企业劳动收入份额

Development of Digital Finance and Labor Income Share of Enterprises

中文关键词:  数字金融发展  企业劳动收入份额  融资约束  技术进步  劳动力结构升级

英文关键词:development of digital finance  labor income share of enterprises  financing constraints  technological progress  upgrading of labor structure

中文摘要:

      提高劳动收入份额、缩小收入分配差距是中国实现共同富裕的内在要求。利用2011—2020年中国沪深A股上市公司数据,实证检验了数字金融发展对企业劳动收入份额的影响及作用机理。研究发现:数字金融发展能够显著提高企业劳动收入份额；数字金融发展会通过降低企业信息不对称与缓解融资约束、促进企业技术创新、提高高技能劳动力比重等渠道提高企业劳动收入份额；数字金融发展对较小规模企业、民营企业、劳动密集型企业以及金融发展水平较高地区的企业劳动收入份额提升作用更大；进一步分析发现,相较于企业管理层职工,数字金融发展在更大程度上提高了普通职工劳动收入份额,显著缩小了企业内部薪酬差距。因此,建议政府稳步推动数字金融发展,缓解企业资金压力,助力企业技术创新,促进劳动力结构升级,以进一步优化企业内部收入分配格局。

英文摘要:

      Increasing the share of labor income and narrowing the income distribution gap are inherent requirements for achieving common prosperity in China. Based on the data of China's A-share listed companies from 2011 to 2020, this paper empirically tests the impact of the development of digital finance on the labor income share of enterprises and its mechanism. Research results show that the development of digital finance can improve the labor income share of enterprises. Specifically, the development of digital finance improves the labor income share of enterprises by reducing the information asymmetry and financing constraints of enterprises, promoting technological innovation of enterprises and increasing the proportion of highly-skilled workers. In addition, the development of digital finance has a greater impact on the labor income share of small enterprises, private enterprises, labor-intensive enterprises, and enterprises in regions with higher financial development level. Furthermore, the development of digital finance increases the income share of ordinary workers more than that of managers, thus significantly narrowing the wage gap within enterprises. Therefore, the government should steadily advance the development of digital finance, ease the capital pressure of enterprises, assist enterprises in technological innovation, promote the upgrading of labor structure, and further optimize the internal income distribution pattern of enterprises. 