最低工资标准调整与外资活动——来自国家企业信用信息公示的微观证据  

Minimum Wage Adjustment and the Activities of Foreign-owned Enterprises: Micro Evidence from National Enterprise Credit Information

作　　者：陈强远 韦丰 曹晖[3] Chen Qiangyuan;Wei Feng;Cao Hui

机构地区：[1]中国人民大学国家发展与战略研究院 [2]复旦大学社会发展与公共政策学院 [3]上海大学经济学院

出　　处：《复印报刊资料（世界经济导刊）》2022年第8期93-108,共16页JOURNAL OF WORLD ECONOMICS

基　　金：国家自然科学基金面上项目“迈向高质量的中国城市技术创新:测度、机理与效应”(72073093);国家自然科学基金青年项目“政府研发补贴、企业创新与资源错配:理论、机制与中国经验”(71803126);国家自然科学基金青年项目“中国能源回弹效应的内外生机制研究及调控政策模拟”(71703096);中国人民大学科学研究基金面上项目“技术创新质量的微观测度与提升机制设计”(21XNA008)。

摘　　要：最低工资标准调整的企业成本效应长期以来广受关注,而最低工资标准调整对外资企业的影响尚缺乏详细的理论研究和全面的微观证据。本文首先构建了一个两国框架下同时考虑进入与退出的异质性企业生产决策模型,理论分析发现东道国最低工资标准上升提高了外资进入门槛,进而阻碍了外资企业活动。在此基础上,利用国家企业信用信息公示数据库、中国税收调查数据库等,从外资进入和退出、生存和死亡等角度全面检验了最低工资标准调整对在华外资活动的影响。研究发现,最低工资标准的提升,显著抑制了外资企业创业活跃度,但对外资企业死亡、撤资以及净进入的影响都不显著;最低工资对外资活动的影响,主要通过企业生产率门槛这一作用机制来进行;最低工资标准的执行力度差异,导致了最低工资标准对创业活动的内外资异质性效应。本文对于正确评估最低工资对外资活动的影响,制定与“引外资”“稳外资”、外资质量和结构优化相适应的劳动保障政策,都具有一定的理论价值和现实意义。The cost effect of minimum wage standard adjustment on enterprises has been widely concerned.However,the effect of minimum wage standard adjustment on the activities of foreign-owned enterprises still lacks of detailed theoretical research and comprehensive micro evidence.This paper constructs a heterogeneous enterprise pro-duction and policy-making model considering both entry and exit under the framework of the two countries,and theo-retically analyzes the impact and mechanism that the increase of minimum wage standard in the host country improves the entry threshold for foreign investment and thus inhibits foreign-owned enterprise activities.On this basis,we empirically test the impact of the adjustment of minimum wage standard on the activity of foreign entrepreneurship in the entry,exit,survival and decease of foreign enterprises by using the national enterprise credit information,China tax survey and other databases.We find that the increase of minimum wage significantly inhibits the foreign entrepre-neurial activity,but has no significant impact on decease,divestment or net entry of foreign-funded enterprises.The increase of the threshold of enterprise productivity is an important mechanism for the minimum wage to affect foreign entrepreneurship.The difference in the enforcement of the minimum wage standard leads to the different effects of the minimum wage standard on entrepreneurial activities between domestic and foreign-owned companies.The study of this paper has important theoretical value and practical significance for accurately assessing the impact of minimum wage on foreign entrepreneurship activities,and discussing how to better"attract foreign capital","stabilize foreign investment"and optimize the quality and structure of foreign capital in policy-making.

关 键 词：外资活动 最低工资调整 生产率门槛 外资撤资 执行力度 

分 类 号：F249.24[经济管理—劳动经济] F279.1[经济管理—国民经济] F125