稳就业政策如何影响员工创新:来自失业保险费率调整的经验证据  

The Impact of Employment-stabilizing Policies on Employee Innovation:Evidence from Adjustments in Unemployment Insurance Rates

作　　者：毛谢恩 杨钧杰 何玲 夏常源[4] Mao Xieen

机构地区：[1]西南财经大学公共管理学院,611130 [2]西南财经大学会计学院,611130 [3]西南财经大学金融学院,611130 [4]西南财经大学中国金融研究院/习近平经济思想研究院,611130

出　　处：《会计研究》2024年第11期122-136,共15页Accounting Research

基　　金：教育部人文社会科学研究青年项目(24YJC630238);四川省博士后科研项目特别资助(TB2024099);西南财经大学研究生代表性成果培育项目一般项目(JGS2024059)的资助

摘　　要：失业风险担忧是员工创新激励不足以及企业减少对员工创新投入的重要影响因素。本文尝试以我国各省先后下调失业保险费率为契机,探讨稳就业政策对企业员工创新活动的激励效应及其作用机理。以工具变量法对2010—2020年我国A股非金融上市企业的实证研究发现,企业失业保险费率下降后企业普通员工从事高风险创新活动的意愿和能力有显著提升,表现为员工在下一年度会申请更多的专利。横截面机制检验结果显示,稳就业政策对员工创新的激励效应在员工失业风险感知较高、企业对流动性约束变动更为敏感以及雇员团队更不稳定的企业中更为显著。拓展性分析表明,企业失业保险费率下降显著降低了企业裁员概率并带来了更高质量的员工创新。Unemployment risk concerns are significant factors contributing to inadequate employee innovation incentives and reduced corporate investment in employee innovation.This paper takes advantage of the opportunity presented by the successive reductions in unemployment insurance rates across provinces in China to explore the incentive effects and mechanisms of employment-stabilizing policies on corporate employee innovation activities.Using the instrumental variable method,an empirical study of China's A-share non-financial listed companies from 2010 to 2020 reveals that the willingness and ability of ordinary employees to engage in high-risk innovation activities have significantly increased following the reduction in corporate unemployment insurance rates.This is evidenced by employees applying for more patents in the following year.The results of cross-sectional mechanism tests indicate that the incentive effect of employment-stabilizing policies on employee innovation is more pronounced in companies where employees have a higher perception of unemployment risk,companies are more sensitive to changes in liquidity constraints,and employee teams are less stable.Extended analysis suggests that the reduction in corporate unemployment insurance rates significantly lowers the probability of layoffs and leads to higher-quality employee innovation.

关 键 词：稳就业政策 失业保险 员工创新 失业风险 

分 类 号：F249.2[经济管理—劳动经济] F842.61[经济管理—国民经济] F273.1F272.92