Reform of State-owned Enterprises and Optimization of Human Capital Structure
Human capital is the first productive force factor,and the state-owned enterprises to be stronger,better and bigger are largely subject to the constraints of human capital.By virtue of the exogenous event of quasi-natural experiment,the"Plans for Deepening Reform of Central Government Enterprises to Slim down and Keep Fit",which was reviewed and ap-proved by The State Council in 2016,this paper constructs a difference-in-differences model to systematically test the effect of state-owned enterprise reform on the human capital structure of enterprises and its mechanism.The results show that,com-pared with the policy before it was introduced,the reform of"slimness"and"fitness"has significantly promoted the human capital structure in state-owned enterprises,which shows that the proportion of highly skilled labor has increased by about 4.35%.The mechanism test results show that the deepening reform of state-owned enterprises mainly drives the human capital structure of state-owned enterprises through two paths:enhancing the level of technological innovation of enterprises and impro-ving the realization of enterprise ESG.The heterogeneity test results show that the phenomenon of human capital structure sig-nificantly promoted by the reform of"slimness"and"fitness"is more obvious in the state-owned enterprises with low asset specificity,fast digitization process,strong product market competition and high attention from the capital market.This study has not only enriched and expanded the research literature on the economic consequences of state-owned enterprise reform and labor economics,but also has the important theoretical and practical significance for a comprehensive understanding of the path to enhance new quality productive forces,promote high-quality development of state-owned enterprises,improve the core com-petitiveness of state-owned enterprises,and where to focus on the follow-up reform policy formulation.
Human Capital StructureState-owned Enterprise ReformHigh-skilled TalentNew Quality Productivity
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