Allocation of decision‐making power and labour income share in listed companies: Evidence from China

IF 3.1 4区管理学 Q2 BUSINESS, FINANCE

Accounting and Finance Pub Date : 2023-11-14 DOI:10.1111/acfi.13195

Xiang Yan, Jenny Jing Wang, Ren Fang Zhang

引用次数: 0

Abstract

Abstract This paper utilises the perspective of listed companies to explore the influence of decision‐making power allocation on labour income share and analyses the possible mechanisms. Utilising 16,650 firm‐year observations from both the Shenzhen and Shanghai stock exchanges between 2008 and 2021, the results show that decentralised decision‐making power can significantly improve the labour income share of enterprises. This result is more obvious in enterprises with non‐state‐owned property rights and low total factor productivity. Furthermore, decentralising enterprise decision‐making power reduces rent dissipation within the company, improves enterprise investment enthusiasm, increases investment in research and development, and promotes upgrading the labour force.

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上市公司决策权分配与劳动收入份额:来自中国的证据

摘要本文运用上市公司视角，探讨决策权配置对劳动收入份额的影响，并分析其可能的机制。利用2008年至2021年间深圳和上海证券交易所16650家公司年的观察结果，结果表明，分散的决策权可以显著提高企业的劳动收入份额。这一结果在非国有产权企业和全要素生产率较低的企业中更为明显。此外，企业决策权的下放减少了公司内部的租金耗散，提高了企业的投资积极性，增加了研发投入，促进了劳动力的升级。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounting and Finance BUSINESS, FINANCE-

CiteScore

5.10

自引率

7.70%

发文量

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