反垄断有助于提高企业劳动收入份额吗?  

Can Antitrust Help Increase Labor Income Share of Enterprises?

作　　者：刘长庚 王宇航[1,2] 彭千芮 Liu Changgeng;Wang Yuhang;Peng Qianrui(Hunan University of Finance and Economics,Changsha 410205,China;Business School,Xiangtan University,Xiangtan 411105,China)

机构地区：[1]湖南财政经济学院经济学院,410205 [2]湘潭大学商学院,411105

出　　处：《南开经济研究》2023年第4期163-180,共18页Nankai Economic Studies

基　　金：国家社会科学基金重大项目“我国劳动收入份额的变化趋势及新时期的对策研究”(18ZDA065);国家社会科学基金青年项目“社会保障安全网在巩固脱贫攻坚成果中的作用机制研究”(21CJL017)的资助。

摘　　要：防止资本无序扩张是一个不容回避的重大政治和经济问题,作为规范资本行为、促进市场良性竞争的重要手段,反垄断能否改善我国劳资收入分配结构,值得关注。本文以2008年《反垄断法》实施作为企业反垄断的外生冲击,基于2004—2019年中国A股上市企业数据,检验了反垄断对企业劳动收入份额的影响。本文的研究发现,与对照组相比,《反垄断法》实施显著提升了垄断企业的劳动收入份额,且该结果稳健存在。机制检验表明,在产品市场方面,反垄断能够通过抑制产品溢价和降低企业垄断利润的路径提高劳动收入份额;在要素投入方面,反垄断能够通过阻止企业资本深化和增加劳动力要素投入的路径提高企业劳动收入份额。异质性检验发现,反垄断对政策实施前市场分割程度高的地区和国有企业劳动收入份额的提升效果更突出。本研究为进一步优化我国劳资收入分配结构提供了有益借鉴。Preventing the disorderly expansion of capital is a major political and economic issue that cannot be avoided.Whether anti-monopoly,as an important means of regulating capital behavior,can improve the distribution structure of labor and capital in China is worthy of attention.This paper regards the implementation of the Anti-Monopoly Law in 2008 as an exogenous impact of corporate anti-monopoly.Based on the data of Chinese A-share listed companies from 2004 to 2019,the DID model is used to test the impact of antimonopoly on the labor income share of enterprises.The results show that,compared with the control group,the implementation of the Anti-Monopoly Law has significantly increased the labor income share of monopoly enterprises,and the result is stable.The mechanism test shows that in the product market,anti-monopoly can increase the labor income share of enterprises by inhibiting the ability of enterprises to produce premium and reducing the path of monopoly profits;In the aspect of factor input structure,anti-monopoly can improve the enterprise labor income share by preventing the deepening of enterprise capital and improving the path of labor factor input.The heterogeneity test found that the impact on the labor income share of regions with high market segmentation before the implementation of the policy and state-owned enterprises was more prominent.This study provides a useful reference for further optimizing the distribution structure of labor capital income in China.

关 键 词：反垄断 劳动收入份额 溢价能力 资本深化 

分 类 号：D922.294[政治法律—经济法学] F249.2[政治法律—法学] F832.51[经济管理—劳动经济]