自由贸易试验区对企业内部薪酬差距的影响

The Impact of the Free Trade Zone on the Intra-firm Pay Gaps

本文将自由贸易试验区政策的实施作为一项准自然试验,并结合2011—2021年中国上市公司微观数据库,运用多期双重差分法,实证检验了自由贸易试验区政策对企业内部薪酬差距的影响。研究发现,自由贸易试验区政策显著缩小了企业内部的薪酬差距,对其进一步分析发现,自由贸易试验区政策通过降低企业融资约束缩小企业内部收入差距。异质性分析的结果表明,自由贸易试验区政策显著缩小了沿海地区企业和非国有企业的内部薪酬差距,对内陆地区企业和国有企业的内部薪酬差距影响不显著。在此基础上,本文提出了缩小企业内部薪酬差距的政策建议,以供参考。

This article empirically examines the impact of the implementation of the free trade zone policy on intrafirm pay gaps using a multi-period differences-in-differences,taking the implementation of the free trade zone policy as a quasi-natural experiment and combining it with a micro database of Chinese listed companies from 2011 to 2021.The study found that the free trade zone policy significantly reduced the intra-firm pay gaps.Further analysis found that the free trade zone policy reduces the intra-firm pay gaps by reducing the financing constraints of firms.The results of the heterogeneity analysis show that the free trade zone policy significantly reduces the internal pay gaps between enterprises in coastal areas and non-state-owned enterprises,and has no significant impact on the internal pay gaps between enterprises in inland areas and state-owned enterprises.On this basis,this paper puts forward policy recommendations to narrow the internal pay gaps of enterprises for reference.