地方经济增长目标与企业劳动收入份额  

Local economic growth target and corporate labor income share

作　　者：杨晓彤[1] 朱冰[2] YANG Xiaotong;ZHU Bing(School of Accounting,Zhongnan University of Economics and Law,Wuhan 430037,China;School of Accounting,Central University of Finance and Economics,Beijing 100081,China)

机构地区：[1]中南财经政法大学会计学院,湖北武汉430037 [2]中央财经大学会计学院,北京100081

出　　处：《中国软科学》2024年第11期189-200,共12页China Soft Science

基　　金：国家自然科学基金青年项目“独立财务顾问和公司并购——基于中介和监督双重作用的研究”(71802207);中央财经大学青年科研创新团队支持计划资助;中南财经政法大学中央高校基本科研业务费专项资金项目(2722023BQ048)。

摘　　要：实现共同富裕需要正确认识和处理经济增长与收入分配的关系。匹配2005—2021年地级以上城市的经济增长目标数据与沪深A股上市公司数据,实证研究地方经济增长目标对企业劳动收入份额的影响。结果表明,高经济增长目标显著降低了企业劳动收入份额。进一步机制检验表明:地方官员为实现经济增长目标,对企业决策和地区市场进行干预,加剧了企业资本要素过度投资、提高了企业垄断利润,是高经济增长目标降低企业劳动收入份额的重要路径;地方经济增长目标对资本与劳动替代效应更强、受到政府干预程度更大的企业的劳动收入份额的降低作用更明显。研究结论丰富了经济增长目标的经济效应和企业劳动收入份额影响因素的相关文献,并对地方经济增长目标的管理、地方官员的考核和晋升机制以及促进共同富裕战略目标的实现具有政策启示作用。Realizing common prosperity requires a proper understanding and handling of the relationship between economic growth and income distribution.This paper matches the economic growth target data of cities above prefecture level and the data of A-share listed companies from 2005 to 2021 to empirically study the impact of local economic growth targets on the corporate labor income share.The results show that high economic growth targets significantly reduce the share of corporate labor income.Further tests show that local officials intervene in corporate decision-making and regional markets to achieve economic growth targets,exacerbating overinvestment in corporate capital factors and increasing corporate monopoly profits,which serve as the important paths for local economic growth targets to reduce corporate labor income shares.Moreover,local economic growth targets have a more pronounced effect on reducing the labor income share of firms that have stronger capital-labor substitution effects and are subject to a greater degree of government intervention.Overall,this paper enriches the literature on the economic effects of economic growth targets and the factors affecting the labor income share of enterprises,and has policy implications for the management of local economic growth targets,the appraisal and promotion mechanism of local officials,and the promotion of the strategic goal of common prosperity.

关 键 词：经济增长目标 劳动收入份额 政府干预 

分 类 号：F061.5[经济管理—政治经济学]