Whether Corporate Digital Transformation Can Increase Labor Income Share:Empirical Evidence Based on Corporate Financialization
Based on the micro-data of Chinese A-share listed companies from 2011 to 2021,this paper examines the impact of enter-prise digital transformation on the share of labor income.The results reveal that corporate digital transformation has a significantly posi-tive effect on the labor income share.It can suppress corporate financialization,promote the development and structural upgrading of main business operations,thereby expanding labor demand and enhancing wage bargaining power through mechanisms that increase the labor income share.From the perspective of the economic environment in which enterprises operate,the enhancing effect of corporate digital transformation on the labor income share is more pronounced during economic downturns and in regions with higher levels of hu-man capital.When examining corporate micro-characteristics,the positive effect of corporate digital transformation on labor income share is more prominent in high-tech enterprises,enterprises with non-financial backgrounds among senior executives and enterprises with precautionary financialization practices.Further research finds that the policies for the construction of"Broadband China"and the National Big Data Comprehensive Experimental Zone can accelerate the digital transformation of enterprises and produce policy syn-ergy effects on the impact on the share of labor income.The results clarify the impact mechanism of enterprise digital transformation to increase the share of labor income,and provide new ideas for optimizing my country's factor income distribution structure.
Digital TransformationShare of Labor IncomeIntegration of Digital and Real EconomyFinancializationDigital Economy
万方数据
