Corporate participation in ESG activities is a viable way to promote common prosperity.Based on the data of China's A-share listed companies from 2011 to 2021 this paper initially verifies the role of ESG in promoting"making the pie bigger"from the micro enterprise level,and then empirically studies the impact of ESG on the internal income distribution of enterprises and its mechanism from the perspective of labor income share of micro enterprises.The results show that ESG generally increases the labor income share of enterprises and promotes common prosperity within enterprises,which can be achieved by increasing the employment level and employee wage rate,and is more significant in enterprises with higher production efficiency and better corporate governance.Further analysis shows that ESG has a significant effect on increasing the labor income share of employees,but has no significant effect on the labor income share of executives.This study has important reference value for promoting the implementation of common prosperity strategy,promoting high-quality economic development and social fairness and harmony,and deepening the reform of income distribution system.
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