城市治理锦标赛与企业内收入分配——来自“全国文明城市”评比的证据  

Urban Governance Tournaments and Within-firm Wage Gap——Evidence from the"Civilized City"Campaign

作　　者：卢昂荻 花泽苏 虞义华[1] Lu Angdi

机构地区：[1]中国人民大学应用经济学院,100872

出　　处：《会计研究》2023年第11期64-77,共14页Accounting Research

基　　金：国家自然科学基金青年项目(72303235)的阶段性成果。

摘　　要：本文将“全国文明城市”评比作为准自然实验,基于我国沪深A股上市公司2005-2019年的员工薪酬数据,检验城市治理锦标赛开展对企业内部收入分配的影响。研究发现,获评文明城市显著增加了本地企业管理层的平均薪酬,而对普通员工薪酬影响不显著,进而扩大了企业内部薪酬差距。机制分析表明,获评文明城市通过对管理层能力要求提升的直接渠道和利润分享过程中收入分配不对等的间接渠道,扩大本地企业的内部薪酬差距。进一步的异质性分析发现,薪酬差距扩大效应在省会城市的企业、国有企业、低员工议价能力企业和管理层薪酬强攀比心理企业中更为明显。本文对政府在城市治理中实现效率与公平的兼顾,控制企业内部薪酬差距处于合理区间具有一定的启发意义。Using within-firm employee compensation information from China's public-listed firms dataset from 2005 to 2019,this paper examines the impact of urban governance tournaments on within-firm wage gaps.Specifically,we use the selection of"civilized city"as a quasi-natural experiment in a DID framework to identify the effect.Our empirical analysis shows that a city awarded as a"National Civilized City"exerts a significant positive effect on the average wage of the managerial employees,but an insignificant effect on non-managerial employees,resulting in a significant positive effect on the wage gap within a firm.The mechanism test further shows that the policy widens the within-firm wage gaps directly through improving managerial compe-tence,and indirectly through enhancing the managerial bargaining power in profit sharing.Our heterogeneity analysis further shows that the policy effect is more pronounced for SOEs,firms with lower employee bargaining power,firms with stronger managers'motivation for payment comparison,and firms that are more innovative.The effect is also more significant for firms located in larger cities,eastern cities and cities that are provincial capitals.Our work high-lights the significance of balancing efficiency and equity within firms during the competition of local governments.

关 键 词：城市治理锦标赛 “全国文明城市” 企业内部薪酬差距 

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