Does the Technological Competitiveness of Peers Affect the Labor Income Share of Firms?
Scientific and technological innovation is the core element of new quality produc-tivity,and the peer competitiveness of enterprise technology dimension deserves attention.Based on the research samples of A-share listed companies from 2007 to 2021,this paper deeply explores the impact of peer technological competitiveness on the labor income share of firms and its mechanism.The results show that peer technological competitiveness can significantly increase firms'labor income share,and this conclusion is still valid after a se-ries of robustness tests and endogeneity discussions.The mechanism test finds that peer tech-nological competitiveness increases the labor income share of firms by optimizing the struc-ture of human capital,expanding the production scale of firms and alleviating the financing constraints.The cross-sectional test finds that the promotion effect of peer technology com-petitiveness on the labor income share of firms is more significant in the case of rich human resources and low bargaining power of workers.Further research finds that compared with the labor income share of senior executives,peer technological competitiveness mainly in-creases the labor income share of ordinary employees,and peer technological competitive-ness also promotes the number of jobs and salary level of ordinary employees.
Peer Technology CompetitivenessLabor Income ShareHuman Capital StructureExpansion of Enterprise ScaleFinance Constraints
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