雇员薪酬溢价对企业创新影响的异质性研究

The Heterogeneity of the Impact of Employees’ Salary Premium on Enterprise Innovation

推进供给侧结构性改革和构建双循环发展格局的关键是提升我国企业的技术创新水平。本文从纵向和横向两个维度研究了雇员薪酬溢价对企业创新影响的异质性。研究发现:普通雇员相对企业内部管理层的纵向薪酬溢价会抑制企业创新,而普通雇员相对其同行的横向薪酬溢价会促进企业创新,特别是高水平创新。在进行了一系列稳健性检验后,研究结论没有发生显著变化。进一步的研究发现,劳动生产率是雇员薪酬溢价影响企业创新的一个重要机制。本文还围绕国有企业进行了异质性分析,发现纵向雇员薪酬溢价对于国有企业创新的负面效应更大,体现出国有企业较为平均主义的薪酬体系对创新活动有一定的负面影响。本文的研究结果表明,我国具备一定的走高工资驱动的高端路径的微观基础。

The key to promote supply-side structural reform and build a "dual circulation" pattern is to promote the technological innovation of Chinese enterprises. This paper studies the heterogeneity of the impact of employees’ salary premium on enterprise innovation both vertically and horizontally. The results show that vertical premium will inhibit innovation, while horizontal premium will promote innovation, especially high-level innovation. The conclusion remains robust after a series of robustness tests. Further research shows that labor productivity is an important mechanism. We also analyze the heterogeneity on state-owned enterprises. The impact of employees’ salary premium is more significant on state-owned enterprises, reflecting the negative influence of the egalitarian salary system of state-owned enterprises on innovation activities. The results show that China has a micro basis for high-level development driven by high wages.