研发投入激励对劳动收入份额的影响研究——基于人才集聚和收益共享视角

Research on the Impact of R&D Input Incentives on the Labor Income Share——Based on the Perspective of Talent Agglomeration and Income Sharing

本文使用双重差分法和2008-2020年中国沪深两市A股上市公司数据研究了企业研发费用加计扣除政策对劳动收入分配的影响。研究发现,加计扣除政策促使劳动要素收入占企业增加值的份额提高0.9个百分点,增长约2.15%。机制分析表明:(1)加计扣除政策产生了显著的人才集聚效应,包括研发人员数量的扩张,以及针对非管理层、非研发人员的普通员工的引致需求。(2)相对于管理层,研发人员具有更高的人均薪酬增幅和更大的劳动收入份额,普通员工则因为数量扩张也提高了劳动收入份额,在收益共享中实现了偏向非管理层员工的劳动收入分配。本文为深入认识研发税收激励政策,兼顾企业技术创新和提高劳动收入份额提供了有益启示。

This paper uses the DID model and the data of A-share listed companies from 2008 to 2020 to study the impact of the policy of extra deducting R&D expenses on labor income distribution.The study finds that the policy promotes the share of labor factor income in the added value of enterprises to increase by 0.9 percentage point,an increase of about 2.15%.Mechanism analysis shows that:(1) The policy has produced significant talent agglomeration effects,including the expansion of the number of R&D personnel and the demand for ordinary employees who are non-managers and non-R&D personnel.(2) Compared with managers,R&D personnel have a higher increase in per capita salary and a larger share of labor income,while labor income share for ordinary employees also increases due to the scale expansion,resulting in a labor income distribution that is beneficial for employees.This paper provides useful inspiration for in-depth understanding of R&D tax incentive policies,taking into account the technological innovation of enterprises and the share of labor income.