数字化转型与企业劳动投资效率

Digital Transformation and Enterprise Labor Investment Efficiency

以2012—2021年沪深A股非金融类上市企业为研究对象,从企业数字化转型视角探讨了非效率劳动投资行为的治理机制。结果表明:数字化转型能够显著提升企业劳动投资效率,该结论在经过若干内生性处理及稳健性测试后依然成立。作用机制检验表明,数字化转型能够发挥信息效应与治理效应,主要通过改善企业信息透明度和内部控制质量提升企业劳动投资效率。异质性分析发现,在非国有企业和劳动要素密集度较高的企业、竞争性行业以及劳动者维权环境较差的地区,数字化转型提升企业劳动投资效率的效应更为明显。研究结论为深入理解数字技术如何赋能实体企业高质量发展提供了新的视角与经验证据,丰富和拓展了企业数字化转型经济效应的相关研究,也为进一步提升企业劳动投资效率提供了有益的政策启示。

Under the background of China’s booming digital economy and the gradual elimination of demographic dividend,this paper takes Shanghai and Shenzhen A-share non-financial listed enterprises from 2012 to 2021 as the research object,and examines the governance mechanism of inefficient labor investment behavior from the perspective of corporate Digital transformation.The results show that Digital transformation can significantly improve enterprise labor investment efficiency,which is still true after several endogenous treatments and robustness tests;The mechanism test shows that Digital transformation can play an information effect and governance effect,mainly by improving the transparency of enterprise information and the quality of internal control,thereby improving the efficiency of enterprise labor investment;The heterogeneity analysis found that in non-state-owned enterprises,enterprises with high labor factor intensity,competitive industries and areas with poor labor rights protection environment,the effect of Digital transformation on improving enterprise labor investment efficiency was more obvious.The research conclusions provide new perspectives and empirical evidence for in-depth understanding of how digital technology enables high-quality development of real enterprises,enrich and expand relevant research on the economic effects of enterprises’Digital transformation,and also provide useful policy enlightenment for further improving the efficiency of enterprises’labor investment.