The Promoting Effect of Bank Competition on Labor Share—Evidence from Chinese Listed Manufacturing Firms
Based on A-share manufacturing firm-level data of 2000-2020,we attempt to investigate the impact of bank competition on labor share.We find that bank competition significantly increases firms'labor share and the alleviation of financing constraint is an important channel.Further analysis shows that bank competition significantly increases the labor share of ordinary employees,but has no impact on the labor share of managers.The impact of bank competition on labor share is more pronounced for firms fa-cing higher product market competition,firms in technology-intensive industries,and firms located in cen-tral and western regions with a lower level of marketization.
万方数据
