客户集中度能影响企业劳动收入份额吗  

Can Customer Concentration Affect a Company’s Share of Labor Revenue?

作　　者：王玉龙 李佩茹 鄢翔 Wang Yulong

机构地区：[1]中国财政科学研究院,100089 [2]中国光大银行,100032 [3]首都经济贸易大学,100070

出　　处：《会计研究》2022年第10期99-114,共16页Accounting Research

基　　金：国家自然科学基金青年项目(72002138);北京市教育委员会科研计划项目-社科一般项目(SM202210038011);首都经济贸易大学科研项目-青年学术创新团队项目(QNTD202201);《中国财政科学研究院鼓励和资助研究生开展科研活动的管理办法》资助项目的支持

摘　　要：客户是企业经济利益的主要来源,对企业的经济行为有着重要影响,在此基础上,本文从企业内部资源配置视角,探究了客户集中度对于企业劳动收入份额的影响。以2007-2020年我国上市公司为样本,研究发现:客户集中度显著降低了企业劳动收入份额,机制研究表明,客户集中度主要通过抑制创新需求、增加债务融资成本以及提高真实盈余管理削弱了资源在劳动要素中的分配。进一步研究发现,客户对于企业劳动资源的侵占效应主要体现在员工层面,且当企业资本—劳动替代弹性越小、产品独特性越强以及企业经营效率越低时,客户集中度对于劳动收入份额的影响越明显。本文的研究结论一方面补充了客户集中度的经济后果及劳动收入份额的微观影响因素,另一方面也为提升企业效率,调整客户结构提供了一定参考。Customers are the main source of economic interests of enterprises and have an important impact on the economic behavior of enterprises.On this basis,this paper explores the impact of customer concentration on the share of labor income of enterprises from the perspective of internal resource allocation of enterprises.Taking the listed companies in China from 2007 to 2020 as a sample,the study found that customer concentration significantly reduced the share of labor income of enterprises.The mechanism study showed that customer concentration weakened the distribution of resources in labor factors mainly by restraining innovation demand,increasing debt financing costs and improving real earnings management.Further research found that the effect of customers’encroachment on the enterprise’s labor resources is mainly reflected at the employee level,and with the smaller the enterprise’s capital~labor substitution elasticity,the stronger the product uniqueness and the lower the enterprise’s operating efficiency,the more obvious the impact of customer concentration on the share of labor income.The research conclusions of this paper,on the one hand,supplement the economic consequences of customer concentration and the micro~effective factors of labor income share,on the other hand,provide some reference for improving enterprise efficiency and adjusting customer structure.

关 键 词：客户集中度 劳动收入份额 资源侵占 要素分配 

分 类 号：F832.51[经济管理—金融学] F274F275