摘要
提升金融服务实体经济质效、提高劳动报酬在收入分配体系中的比重是构建新发展格局和实现共同富裕的重要驱动力。基于2011—2019年上市公司数据,从数字金融发展视角探讨其对劳动收入份额的影响、作用机制以及潜在的异质性。研究发现数字金融显著提升了劳动收入份额,在经过内生性问题处理和一系列稳健性检验后,结论依然成立。数字金融的发展增加了高技能劳动力的雇佣、减少了低技能劳动力的雇佣,促进了就业技能结构的升级,进而提高了劳动收入份额;同时既提升了工资率,也提高了劳动生产率,其中工资率效应占主导。进一步研究发现,数字金融对劳动收入份额的影响因数字金融结构、企业内在特征和外部制度环境等横截面差异而存在异质性。本研究为数字金融高质量服务实体经济、实现共同富裕的靶向路径构建提供了启示,当前应进一步推动数字金融的深度发展,将数字金融服务的落脚点放在企业技术创新层面,相关政策的制定应因地制策、因企施策。
The improvement of the quality and efficiency of financial services in the real economy and increase of the proportion of labor remuneration in the income distribution system are important driving forces for the construction of a new development pattern and the realization of common prosperity. This paper explores the impacts of digital finance development on labor income share, its internal mechanism and heterogeneity effect based on the data of Chinese listed companies from 2011 to 2019. The results show that digital finance significantly improves labor income share, which is still valid after dealing with endogenous problems and a series of robustness tests;its internal mechanism is that digital finance optimizes the employment skill structure by increasing the employment of high skilled labor and reducing the employment of low skilled labor, and then improves the proportion of labor remuneration in the added value of enterprises;digital finance improves both wage rate and labor productivity, while the former is dominant. Further research shows that the impact of digital finance on labor income share is heterogeneous due to cross-sectional differences such as digital financial structure, internal characteristics of enterprises and external institutional environment. This research provides useful thinking for digital finance how to serve the real economy with high quality and build targeted paths to achieve common prosperity.
作者
江红莉
蒋鹏程
胡林柯
JIANG Hong-li;JIANG Peng-cheng;HU Lin-ke(School of Finance and Economics,Jiangsu University,Zhenjiang 212013;School of Urban and Regional Science,Shanghai University of Finance and Economics,Shanghai 200433,China)
出处
《广东财经大学学报》
CSSCI
北大核心
2022年第3期34-48,共15页
Journal of Guangdong University of Finance & Economics
基金
国家社会科学青年基金项目(19CJL039)
江苏省2021年度高校哲学社会科学研究一般项目(2021SJA2062)。
关键词
数字金融
劳动报酬
劳动收入份额
就业技能结构
新发展格局
收入分配
劳动力
digital finance
labor income
labor income share
employment skill structure
new development pattern
income distribution
labour force
