职工董事设立与企业成本决策

The Establishment of Employee Directors and Firm’s Cost Decision

在“以人为本”的新发展理念下,职工董事制度是职工参与企业管理、维护职工合法权益的重要途径。文章采用手工收集的董事会成员信息,以2008-2017年我国A股国有上市企业为样本,考察职工董事设立对企业成本决策的影响。研究发现,职工董事设立会显著强化企业成本粘性;进一步研究发现,上述强化作用在信息环境较差的企业和地方国有企业中更显著,职工董事设立对于人力成本粘性和非人力成本粘性均具有显著的强化作用。研究从职工权益保护方面肯定了职工董事设立的积极作用,拓展了成本粘性动因研究,对于职工董事制度的完善具有一定参考价值。

Under the new development concept of people-centered,the employee director system is an important way for employees to participate in enterprise management and protect their legitimate rights and interests.Using data from China’s A-share state-owned listed companies from 2008 to 2017,this study examines the impact of employee director establishment on the cost decisions.The result shows that the establishment of employee directors significantly enhances firm cost stickiness.Further study finds that the above enhancement effect is particularly notable in local state-owned firms and firms with a poorer information environment,and that the establishment of employee directors significantly influences both labor cost stickiness and non-labor cost stickiness.The study supports the positive role of the establishment of employee directors from the perspective of safeguarding employees’rights and interests,extends the study of cost stickiness determinants,and holds practical significance for the improvement of the employee director system.