关于税、资本收益与劳动所得的收入分配实证研究

An Empirical Study of the Income Distribution of the Taxes,Capital Gains and Labor Income

企业微观层面的三个利益相关方——政府、投资者(包括股东与债权人)和职工的收入分配关系主要体现为税、资本收益和劳动所得三者之间的关系。本文以2000—2011年间沪深两地上市公司为样本,采用单位资产上的税负、资本收益和劳动所得为衡量依据,通过统计分析发现从高到低依次是:资本收益率、劳动所得率、税负率。从变动趋势上看,劳动所得率逐年上升、股东所得率波动较大。此外,股权性质、垄断行业、所属地区、公司规模等对企业收入分配结构有一定影响。从样本期间均值来看,税负率从高到低依次是地方国企、非国企、央企;劳动所得率依次是央企、非国企、地方国企;而股东所得率则依次是非国企、央企、地方国企。垄断企业的税负率较高,同时劳动所得率也较高。从变化趋势看,公司无论股权性质、所属地区、规模大小,其劳动所得率均呈逐年上升趋势。这表明,要让初次收入分配更加公平、合理,需要考虑多种因素,而不只是简单调整税负、薪酬或分红比例。

The distribution of the income among the three stakeholders in the firms-government, investors （including shareholders and creditors） and labors is mainly reflected in the relationship among tax, capital gains and salaries. In this paper, with the Shanghai and Shenzhen listed companies during 2000--2011 as the samples, we find that the descending order is the return on capital, the rate of labor income and the tax burden on unit assets. The rate of labor income increases year by year, while the rate of shareholder＇ s income fluctuates greatly. We also find that the ownership of the firms, being in the monopoly industries, the registration region and the size of the firms will take some influence on the distribution of the income of the firms.