The Impact of Digital Transformation on Labor Income Share of Enterprises
As a new driving force for the future development of enterprises,whether digital transformation can increase the labor income share of enterprises and optimize the internal income distribution pattern is still controversial.In order to clarify the relationship between them and consolidate the foundation of common prosperity,this paper discusses the economic logic of digital transformation affecting the labor income share of enterprises on the theoretical basis,and the study uses the data of A-share listed companies in China from 2012 to 2020 to conduct empirical tests.Findings are as follows.(1)Digital transformation has improved the labor income share of enterprises,and this achieved the goal of"sharing the cake".Digital transformation has an impact on both labor productivity and wage rate.At present,the wage rate effect is the most important factor influencing the impact of digital transformation on the labor income share of enterprises.(2)The digital transformation of enterprises hinders the increase of labor income share through the productivity effect,but it promotes labor income through the wage rate effect.Moreover,the wage rate effect generated by digital transformation outweighs the productivity benefit,indicating the net effect of digital transformation on increasing the labor income share inside enterprises.(3)Digital transformation can significantly increase the value added of enterprises,which eliminates the possibility that the rising labor cost caused by the increase in labor income share will have a negative impact on the future development of enterprises,and has also achieved the goal of"making a big cake"within enterprises.(4)The unskilled labor in labor-intensive enterprises accounts for a relatively high proportion,which has a significant employment substitution effect as a result of digital transformation,and it will have a restraining effect on the increase of their internal labor income share.Therefore,the digital transformation of capital-and technology-intensive enterprises plays a greater role in improving the labor income share.(5)The impact of digital transformation on the labor income share of state-owned listed enterprises is smaller than that of non-state-owned listed enterprises.One possible explanation is that SOEs are particularly committed to social responsibility.Compared with the existing research,this paper,on the one hand,reveals the internal mechanism of digital transformation that affects the labor income share.By constructing the CES production function including digital transformation factors,this paper provides a micro-level empirical basis for the debate on the influence relationship between them.Moreover,it also derives the functional direction of digital transformation of enterprises on labor income share.On the other hand,this paper enriches the research on the impact of digital transformation on the labor market.At the theoretical level,it adds to the existing research on the mechanism of labor income and compensation change,and it also provides ideas on how to use the digital economy to increase the labor income share and make the income distribution pattern more reasonable.This provides useful policy insights for attaining common prosperity.
Digital transformationLabor income shareLabor productivityWage rate
NETL
NSTL
万方数据
维普
