社会信用体系建设的稳就业效应研究——来自社会信用体系改革试点的经验证据  

The Stable Employment Effect of Social Credit System Construction:Empirical Evidence from the Pilot Reform of the Social Credit System

作　　者：程广斌[1] 吕太升 CHENG Guangbin;LYU Taisheng(School of Economics and Management,Shihezi University,Shihezi 832003,China)

机构地区：[1]石河子大学经济与管理学院,新疆石河子832003

出　　处：《华东经济管理》2025年第5期80-89,共10页East China Economic Management

基　　金：国家社会科学基金一般项目“共同富裕背景下数字赋能新疆旅游业创新发展的机制研究”(22BJY150)。

摘　　要：文章以2010—2023年沪深A股非金融类上市企业为研究样本,将社会信用体系改革试点视为一项准自然试验,利用多期双重差分模型系统考察了社会信用体系建设对企业劳动雇佣的影响。研究发现:社会信用体系建设能够显著扩大企业劳动雇佣规模,起到了稳就业的政策效果;机制分析表明,融资约束缓解效应、生产规模扩张效应和交易成本降低效应是社会信用体系建设作用于企业劳动雇佣的主要渠道;异质性分析发现,社会信用体系建设的稳就业效应在治理水平较低企业、劳动密集型企业以及地区法治环境较差、金融发展水平欠佳的样本中更为突出;拓展性分析表明,社会信用体系建设也有助于改善企业劳动雇佣结构,助推企业人力资本升级。This article systematically examines the impact of the social credit system construction on corporate labor employment by using A-share non-financial listed companies in Shanghai and Shenzhen from 2010 to 2023 as the research samples,regarding the pilot social credit system reform as a quasi-natural experiment,and employing a difference-in-differences model.According to the research findings,the social credit system construction can significantly expand the scale of corporate labor employment and play a policy role in stabilizing employment.The mechanism analysis shows that the financing constraint alleviation effect,the production scale expansion effect,and the transaction cost reduction effect are the main channels through which the social credit system construction affects the corporate labor employment.The heterogeneity analysis reveals that the employment stabilization effect of social credit system construction is more prominent in enterprises with lower governance level,labor-intensive enterprises and samples with poorer regional legal environment and lower financial development level.The extended analysis indicates that the social credit system construction also contributes to improving the labor employment structure of enterprises and driving the human resource capital upgrade of enterprises.

关 键 词：社会信用体系 企业劳动雇佣 融资约束 交易成本 人力资本升级 

分 类 号：F249.2[经济管理—劳动经济] D64[经济管理—国民经济]