高端服务投入与企业劳动收入份额变化  

High-end Service Input and Changes in the Labor Income Share of Enterprises

作　　者：宋培 娜梅雅 李琳[2] 艾阳 Song Pei;Na Meiya;Li Lin;Ai Yang(Antai College of Economics and Management,Shanghai Jiao Tong University,Shanghai 200030,China;School of Economics,Nankai University,Tianjin 300071,China)

机构地区：[1]上海交通大学安泰经济与管理学院,上海200030 [2]南开大学经济学院,天津300071

出　　处：《财经研究》2024年第7期141-155,共15页Journal of Finance and Economics

基　　金：国家社会科学基金重大项目(21&ZD099);国家社会科学基金重大项目(23&ZD042);国家社会科学基金重点项目(21AJY012)。

摘　　要：中国劳动收入份额自20世纪90年代出现下降趋势,虽然2010年后略有提升,但始终低于国际平均水平。收入分配结构演变与要素投入结构转型密切相关,但鲜有学者从高端服务投入视角探寻中国劳动收入份额变动的原因,文章在这方面进行了探索。文章通过构建一般均衡模型并以2007—2014年中国A股上市公司为样本,探讨了高端服务投入对劳动收入份额的影响。研究发现,高端服务投入显著降低了企业劳动收入份额,且这种影响存在异质性,其在非劳动密集型行业、非国有企业、低市场化水平地区和中西部地区的影响更加突出。机制检验表明,高端服务投入有利于优化企业员工结构和提高员工平均薪酬,但显著降低了就业水平并加快了资本深化速度,这意味着高端服务投入引发的“替代效应”大于“互补效应”是造成劳动收入份额下降的主导因素。此外,文章还探究了高端服务投入对企业内部高层管理人员与普通职工之间工资差距的影响,研究发现,高端服务投入有助于缩小高层管理人员和普通员工之间的收入差距。文章的研究发现为政府重新审视企业投入结构服务化,谨防其可能造成的初次分配失衡提供了政策启示。As a crucial measure of primary distribution,the relative stability of labor income share is essential for China to narrow the gap between the rich and the poor and promote the construction process of common prosperity in the future.Since the 1990s,China’s labor income share has been on a downward trend,and although it has slightly increased since 2010,it remains below the international average.The evolution of income distribution structure is closely related to the transformation of factor input structure.The historic experience of successful growth leaps in developed countries reveals that high-income economies generally entered a service economy dominated by knowledge-and-technology-intensive service industries.The continuous increase in high-end services’proportion is an important feature for developed countries to leapfrog middle income traps.However,no research has explored reasons for changes in labor income share from the perspective of high-end service input.Based on the data of China’s A-share listed companies from 2007 to 2014,this paper constructs a multisector general equilibrium model to explain how high-end service input affects the labor income share of enterprises.The results show that investment in high-end services significantly reduces labor income share.Heterogeneity testing reveals that the negative impact of high-end service input on labor income share is particularly prominent in non-labor-intensive industries,non-state-owned enterprises,low-market areas,and central and western regions.Mechanism testing demonstrates that high-end service input contributes to optimizing the employee structure and improving the average employee salary,but it significantly reduces the labor employment level and accelerates capital deepening.Extension analysis indicates that due to the continuous optimization of employee structure and the mass displacement of low-skilled labor forces,high-end service input reduces labor income share while narrowing the income gap between senior managers and ordinary empl

关 键 词：高端服务投入 劳动收入份额 就业结构 收入差距 替代弹性 

分 类 号：F062.9[经济管理—政治经济学]