人才政策可以促进企业全要素生产率增长吗——基于地方政府人才治理视角的研究

CAN TALENT POLICIES PROMOTE THE GROWTH OF ENTERPRISE’S TOTAL FACTOR PRODUCTIVITY——Based on the Perspective of Local Government Talent Governance

本文使用2001—2016年我国国家法律法规数据库中针对人才出台的地方性法规及部门规章对人才政策予以定量识别,并与上市企业数据进行匹配,实证检验了地方人才政策对企业全要素生产率的影响。研究发现,人才政策能够显著促进企业全要素生产率增长。具体而言,人才政策出台数量平均每增加1条,能够促进企业全要素生产率增长约0.005。机制检验证明,人才政策通过提高企业技术创新水平和纠正人力资本在企业间的错配两条路径促进企业全要素生产率增长。此外,企业及行业异质性研究发现,人才政策对非国有企业及高技术产业全要素生产率的影响大于国有企业及非高技术产业。以上发现对于当前地方政府人才治理体系建设具有较大意义,对如何完善政府人才政策促进中国经济高质量发展也具有一定启示。

This paper uses the local regulations and departmental rules issued for talents in the database of Chinese laws and regulations from 2001 to 2016,quantitatively identify talent policies.It matches them with listed company data, empirically test the impact of local talent policies on corporate total factor productivity.This study finds that the talent policy can significantly promote the growth of total factor productivity of enterprises.Specifically, every increasing in the number of talent policies can promote the growth of total factor productivity of enterprises by about 0.005.The mechanism test finds that the talent policy promotes the growth of total factor productivity through two paths: improving the level of enterprises’ technological innovation and correcting the misallocation of human capital among enterprises.In addition, the research on enterprise and industry heterogeneity finds that the impact of talent policy on total factor productivity of non-state-owned enterprises and high-tech industries is bigger than that of state-owned enterprises and non-high-tech industries.These findings are of great significance for understanding the current legalization of local government talent governance, as well as have enlightenment for how to improve the government’s talent policy and to promote high-quality economic development in China.