Employee Directors and Enterprise Labor Employment:Theoretical Analysis and Empirical Testing Based on People's Democracy
Employment is the most basic component of the people's wellbeing.How to"promote employment and ensure employment"has become an extremely important research topic at the level of national governance in China.As an important component of the internal democratic management system of enterprises,employee director represents and maintains the interests of enterprise employees,and is the embodiment of the whole-process of people's democracy,and how it affects the decision-making of enterprise labor employment has become a hot topic of social concern.Based on the data of China's A-share listed companies from 2007 to 2021,the study finds that employee directors can promote the scale of labor employment in enterprises.The mechanism test shows that employee directors can improve the level of employment by suppressing opportunistic behavior of management,expanding the scale of production,and improving their reputation.The heterogeneity test finds that the promoting effects are mainly in state-owned enterprises and labor-intensive enterprises.The economic consequence test finds that employee directors improve the total factor productivity of firms by playing a role in promoting employment.This paper reveals the impact and mechanism of employee directors on labor employment from the perspective of corporate governance,which enriches the literatures related to employee directors and provides new ideas for solving the problem of"stabilizing employment".
NETL
NSTL
万方数据
