文章以教育部博士点基金项目(2011年)为依托,将企业增加价值在其主要利益相关者之间分配份额(分配结构)作为研究对象,构建了非竞争市场因素影响增加价值分配结构结的结构方程模型框架,并以2003-2010年上市公司微观数据为样本,运用结构方程分析方法对相关假设进行实证检验。实证结果表明:1、目前国企相对民企、欠发达地区相对于发达地区以及商业相对于工业和地产对增加员工所得份额、降低政府所得份额有显著影响,表现为对分配结构存在显著的负向影响;2、股权集中度与经营绩效对增加员工所得份额、降低政府所得份额有影响,表现为对分配结构有正向影响,但统计上不显著;3、研究发现政府所得率与员工所得率之间呈反向变动关系。结论表明:非竞争市场因素对我国增加价值分配结构存在重要影响,在解决分配结构问题的时候,应尽量消除非竞争市场因素的不利影响。
The article research on firm's add value distribution in its main stakeholders. Equation model framework is build in this paper,which is about non-competitive market factors influence of add value distribution structure, then the empirical test is carried on to related hypothesis using structural equation analytical method based on micro-data of listed company from 2003 to 2010. The empirical results show that: firstly, state-own enterprise to private enterprise, under-development regions to developed regions and business to industry and real estate which have significant increase staff's share and reduce government's share, show negative influence on add value distribution structure. Secondly, ownership concentration and business performance have influence on increasing staff's share and reduce government's share, showing positive influence on add value distribution structure, while it is no significant. Finally,it is found that there exit reverse change relations between government income rate and staff income rate. Conclusion shows that non-competitive factors have significant influence on add value distribution of our country, so it is nesessary to remove negative influence of non-competitive factors when solve problematic of distribution structure.
[1] Kravis I B. Relative income shares in fact and theory [J]. The American economic review, 1959, 49(5):917-949.
[2] 尹恒,龚六堂,邹恒甫. 当代收入分配理论的新发展[J]. 经济研究,2002,(8):83-95.
[3] Blanchard O J. Macroeconomic effects of regulation and deregulation in goods and labor markets[J]. Quarterly Journal of Economics, 2003, 118(3):879-907.
[4] Boldrin, Michele and Carmen Garrido Ruiz. What if factor shares are not constant? Implications for growth and business cycle theories. Working Paper, University of Minnesota, 2006.
[5] 叶林祥,李实,罗楚亮. 效率工资、租金分享与企业工资收入差距——基于第一次全国经济普查工业企业数据的实证研究[J]. 财经研究,2011,37(3):4-16.
[6] 罗楚亮,李实. 人力资本、行业特征与收入差距[J]. 管理世界,2007,(10):19-31.
[7] 罗长远,张军. 劳动收入占比下降的经济学解释[J]. 管理世界,2009,(5):25-35.
[8] 李 实,王亚柯. 中国东西部地区企业职工收入差距的实证分析[J]. 管理世界,2005,(6):16-26.
[9] 高连水. 什么因素在多大程度上影响了居民地区收入差距水平[J]. 数量经济与技术经济研究,2011,28(1):130-139.
[10] Rigdom M W, Cudeck R. Alternative ways of assessing model fit. In: BollenK A, Long J S. ed. Testing structural equations models[M]. Newbury Park, CA: Sage, 1993, 136-162.
[11] 张原,陈建奇. 人力资本还是行业特征:中国行业间工资汇报差异的成因分析[J]. 世界经济,2008(5):68-80.
[12] Barkema H G, Gomez-Mejia L. managerial compensation and firm performance: a general research frame work. [J]. Academy of management Journal,1998, 41(2):135-145.
[13] Knight, Yueh. Job mobility of residents and migrants in urban China[J]. Journal of comparative economics, 2004(32):637-660.
[14] 金玉国,崔友平. 行业属性对劳动报酬的边际效应及其细部特征[J]. 财经研究,2008,(7):4-15.
[15] 孙世敏,王昂,贾建峰. 基于价值创造和动态基础薪酬的经营者激励机制研究[J]. 中国管理科学,2011,19(5):153-159.
[16] 纪建悦,刘艳青等. 利益相关者影响企业财务绩效的理论分析与实证研究[J]. 中国管理科学,2010, 17(6):186-191.
[17] 杨承训. "深化收入分配制度改革"的经济学解析—兼论以初次分配为重点架构中国特色社会主义分配理论[J]. 经济学动态,2008,(1):64-69.
[18] 袁振兴. 财务目标:最大化还是均衡—基于利益相关者财务框架[J]. 会计研究,2004,(11):38-43.
[19] Agle B R,Donaldson T,Freeman R E. Dialogue: toward superior stakeholder theory [J]. Business Ethics Quarterly, 2009,18(2):153-190.
[20] 白重恩,钱振杰,吴康平. 中国工业部门要素分配份额决定因素研究[J]. 经济研究,2008,(8):16-28.
[21] 李维安,武立东. 企业集团的公司治理—规模起点、治理边界及子公司治理[J]. 南开管理评论,1999,(4):4-8.
[22] 徐莉萍,辛宇,陈工孟. 股权集中度和股权制衡及其对公司经营绩效的影响[J]. 经济研究,2006,1(1):90-100.
[23] 孙兆斌. 股权集中、股权制衡与上市公司的技术效率[J]. 管理世界,2006,(7):115-124.
[24] Dickens W T, Katz L F. Inter-industry wage differences and theories of wage determination. Working Paper, NBER,1987.
[25] Abowd J M, Kramarz F. Margolis D. High wage workers and high wage firms. [J]. Econometrica, 1999,(67):251-333.
[26] Estevao M, Tevlin S. Do firms share their success with workers? The response of wages to product market conditions [J]. Economica, 2003,(70):597-617.
[27] Fairris D, Jonasson E. What accounts for intra-industry wage differentials? Results from a survey of establishments[J]. Journal of Economic Issues, 2008,(2):169-191.
[28] Heng Yin. Characteristics of Inter-regional income disparities in China[J]. Social Sciences in China, 2011, 32(3):123-144.
[29] 徐莉萍,辛宇,陈工孟. 股权集中度和股权制衡及其对公司经营绩效的影响[J]. 经济研究,2006,1(1):90-100.
[30] 樊纲,王小鲁. 中国市场化进程对经济增长的贡献[J]. 经济研究,2011,(7):4-16.
[31] 万广华,张茵. 收入增长与不平等对我国贫困的影响[J]. 经济研究,2006,(6):112-123.
[32] Jensen M C. Ownership structure, investment and the corporate value: an empirical analysis[J]. Journal of Financial Economics, 1998, (47):103-121.
[33] David K, Levitas. A survey of corporate govenrnance[J]. The Journal of Finance, 1997, (53):737-783.
[34] Perderson, Thomsen F. Ownership concentration and performance in ukraine's privatized enterprises[J]. International Monetary Fund, 2003,150(1):10-42.
[35] Shapio C, Stiglitz J. Equilibrium unemployment as worker discipline device[J]. American Economic Review, 1984, (74):433-444.
[36] Albrecht, Vroman J. What employee motivates employees? A comparison of US and China responses[J]. International Journal of Human Resource Management, 1998, (9):516-528.
[37] 张兆国,闫炳乾,何威风. 资本结构治理效应:中国上市公司的实证研究[J]. 南开管理评论,2006,9(5):22-27.
[38] Nickell F, Wadhwani C D. High wage workers and high wage firms[J]. Econometrica, 1999, (67):251-333.
[39] 代建生,孟卫东. 团队生产中的利益分享机制研究[J]. 中国管理科学,2010,18(1):120-127.
[40] Serres, Alain De, Stefano Scarpetta. Sectoral shifts in europe and the United States: How they affect aggregate labour shares and the properties of wage equations. Working Paper OECD, 2002.
