How Does the Expansion of Human Capital Affect Enterprise Production Efficiency:Empirical Research Based on the Perspective of Wage Distortion Heterogeneity
Against the backdrop of the changes in economic development patterns,and pro-found changes in the world economic situation,re-examining the impact of human capital expan-sion on enterprise production efficiency has important practical significance for promoting high-quality economic development.Based on the fact that there is a widespread negative distortion of labor wages in the Chinese labor market,and with the help of the exogenous policy shock of expan-ding enrollment in universities,the paper takes China's industrial enterprises as research samples and constructs a quasi-natural experiment to systematically examine the impact of human capital expansion on enterprise production efficiency under the heterogeneity of wage distortions.The re-search results indicate that as the degree of negative wage distortion increases,the impact of hu-man capital brought by the expansion of university enrollment on enterprise production efficiency gradually decreases.Mechanism research on enterprises with high wage distortions shows that the expansion of human capital exacerbates labor intensity and productivity bias,which suppressed the innovation drive of enterprises.This study provides a new perspective and empirical evidence for the in-depth implementation of the strategy on developing a quality workforce in China's high-quality development stage.
Expansion of College EnrollmentHuman Capital ExpansionLabor Wage DistortionEnterprise Production Efficiency
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