中国A股上市公司企业年金参与率:特征事实、演化动因及改革展望

Corporate Pension Participation Rate of A-share Listed Companies in China:Characteristic Facts,Evolution Motivations and Reform Prospects

提高企业年金参与率是企业年金改革的要务,但由于数据选择的局限性等原因,关于企业年金参与率的一些特征事实需要进一步明确和完善。首先,基于收集的2007—2018年中国A股上市公司企业年金缴费数据,从年度、行业和地区三个角度研究了实施企业年金计划的中国A股上市公司的特征。研究发现:企业年金年度参与率增长缓慢,行业以及地区覆盖不均。具体表现为科技类行业对实施企业年金计划重视程度提高,但企业年金参与率仍有上升空间;西部地区对提高企业年金参与率贡献更大。其次,分析了以上特征的演化动因主要有制度依赖、资源依赖以及市场推动。最后,提出建立自动加入机制和通过税收优惠提高企业年金参与率以及改善行业与地区覆盖不均的改革建议。

Increasing the participation rate of corporate pension is the priority task of corporate pension reform,but due to the limitation of data selection and other reasons,some characteristic facts about the participation rate of corporate pension need to be further clarified and improved.Firstly,based the collected data on the corporate pension payment of China′s A-share listed companies from 2007 to 2018,the characteristics of China′s A-share listed companies that implement corporate pension plans are studied from three perspectives:annual,industry,and region.The study found that the participation rate of corporate pension increases slowly,the industrial and regional coverage is uneven.The specific manifestation is that the technology industry pays more attention to the implementation of corporate pension plans,but there is still room for increase in the participation rate of corporate pensions.Companies in the western region have made greater contribution to increasing the participation rate of corporate pensions.Secondly,it analyzes the main reasons for the evolution of the above characteristics are institutional dependence,resource dependence and market promotion.Finally,a reform proposal is proposed to establish an automatic admission mechanism,increase the participation rate of corporate pensions through tax incentives and improve the uneven coverage between industries and regions.