民营企业党组织影响力与内部收入差距

The Impact of Party Organizations on Income Gap within Private Firms

近年来,民营企业的党组织建设工作已取得显著成绩,但其是否真正发挥作用仍待探究和科学评估。文章基于民营上市企业党组织活动的数据,以内部收入差距为切入点,探讨了党组织活动对民营企业治理的影响。研究发现,民营企业党组织影响力的增强将显著缩小高管与职工的薪酬差距,缓解内部收入不平等,这一结论在一系列稳健性检验后仍然成立。机制分析表明,当民营企业党组织对管理层权力的制衡度更大,以及管理层对党组织更加重视、政治敏感度更强时,党组织影响力缩小内部收入差距的作用更加明显。进一步发现,党组织影响力主要提高了普通职工的薪酬,而非降低了高管的薪酬,从而缩小了内部收入差距;对于响应扶贫等政策的企业,党组织影响力缩小内部收入差距的作用更加明显,获得省部级及以上表彰的党组织缩小内部收入差距的作用也更加显著。文章的研究对于加强民营企业党组织建设、深化收入分配制度改革以及促进社会公平正义和共同富裕具有重要的政策启示。

In recent years, notable achievements have been made in the construction of the Communist Party of China(CPC) in private firms, but whether it plays a governance role remains to be explored. On the one hand,according to the 2017 Statistical Bulletin of the Communist Party of China issued by the Organization Department of the Central Committee of the CPC, as of December 31, 2017, 18.77 million(73.1%) private firms had established Party organizations, and the construction rate of Party organizations has reached 99%. Party organizations embedded in firms are a modern corporate governance mechanism with Chinese characteristics.On the other hand, economic growth of China has significantly improved living standards, but the income distribution gap has been widened. Narrowing income gap and promoting common prosperity are important goals of China’s economic system in the future and the cornerstone of building a harmonious society. If Party organizations in private firms play a governance role, it can be expected that the income gap within private firms will become narrow, which helps to improve social fairness and stability.Based on the data of the Party organization activities of private listed companies, this paper examines the impact of Party organizations on the governance of private firms from the perspective of internal income gap.It is found that the greater the impact of Party organizations, the smaller the income gap within private firms.The mechanism analysis shows that the negative relationship between Party organizations and income gap is more pronounced when Party organizations in private firms have greater constraints on the management power, and the management pays more attention to Party organizations and is more politically sensitive. In addition, the reduction of income gap within private firms is mainly due to the improvement of ordinary employees’ salary, rather than the reduction of the management’s salary. The impact of Party organizations on income gap is also pronounced for firms taking part in aid-poor development projects and for Party organizations in private firms with provincial level honors.This paper makes several important contributions: First, it enriches the research of Party organizations in private firms. Prior literature mainly studies the economic consequences of Party organizations in state-owned firms, while this paper focuses on the income gap within private firms. Second, it enriches the literature of political parties and corporate governance, which helps to understand the advantage of Party organizations in modern corporate governance with Chinese characteristics. Third, the conclusions of this paper have important policy implications on strengthening the construction of Party organizations in private firms, deepening the reform of income distribution system, and promoting social fairness, justice and common prosperity.