国有企业薪酬改革的就业效应--基于“限薪令”的实证研究  

Employment:Evidence from the Executive Compensation Regulation Reform

作　　者：卢允之 董志强[1] 杨海生[2] Lu Yunzhi;Dong Zhiqiang;Yang Haisheng

机构地区：[1]华南师范大学经济与管理学院,广东广州510006 [2]中山大学岭南学院,广东广州510275

出　　处：《学术研究》2024年第5期107-116,177,178,共12页Academic Research

基　　金：研究阐释二十大精神国家社科基金重大项目(23ZDA098)的阶段性成果。

摘　　要：党的二十大报告提出“实施就业优先战略,强化就业优先政策”。缩小高管—员工薪酬差距的改革,是否有助于促进国有企业的就业?本文利用我国上市公司样本,以2015年实施国企“限薪令”为外生冲击,实证检验高管—员工薪酬差距缩小对国有企业的就业产生的影响。双重差分模型表明,相比非国有企业,国有企业在实施“限薪令”后高管—员工薪酬差距明显缩小,用工人数和员工增长率均显著提升;“限薪令”改变了国有企业用工结构和薪酬结构,高学历员工占比、生产和研究相关岗位员工占比显著提高,工资津贴支出占比显著增加,社保福利支出占比下降;“限薪令”对国有企业用工的影响具有异质性,在高管—员工薪酬差距较大的东部地区、垄断行业、资本密集型企业效应更为明显。总的来说,缩小高管—员工薪酬差距的限薪改革促进了国有企业的就业增长。本文结果有助于思考促进公平收入和高质量就业的政策。The 20^(th)National Congress of the CPC proposed the“implementation of the employment priority strategy and the strengthening of employment priority policies.”Does the reform aiming to narrow the executive-employee compensation gap contribute to promoting employment in state-owned enterprises?This paper exploits the state-owned enterprises(SOEs)Executive Compensation Regulation Reform of 2015 as an exogeneous shock to empirically examine whether the reduction in the pay gap can promote firm’s employment.The difference-indifferences model indicates that,compared to non-state-owned enterprises,state-owned enterprises experienced a significant increase in the number of employees and the employee growth after the implementation of the Regulation,which changed the employment structure and compensation structure of state-owned enterprises.The proportion of highly educated employees,that of employees in production and research-related positions,and that of basic salaries and allowances all increased significantly,while the proportion of social security and welfare expenses decreased.The impact of the Regulation on state-owned enterprises’employment exhibits heterogeneity,with more pronounced effects in the eastern region,monopolistic industries,and capital-intensive enterprises.In summary,the Regulation has improved employment in state-owned enterprises.The results of this study shed light on the policies aimed at promoting income equity and high-quality employment.

关 键 词：国企薪酬改革 “限薪令” 就业 双重差分法 

分 类 号：F244.2[经济管理—劳动经济]