社保缴费会促进工业企业全要素生产率提高吗?——基于《社会保险法》实施的准自然实验

Will Social Security Contributions Improve the Total FactorProductivity of Industrial Enterprises?——Quasi-natural Experiment based on the Implementation of the Social Insurance Law

全要素生产率的提升是工业企业高质量发展的重要驱动力。探讨社保缴费负担对工业企业全要素生产率的影响有助于全面了解社保制度的多重效应,为平衡社会保障与企业发展关系的分析提供参数支持。通过对企业社保缴费与全要素生产率的关系进行理论分析,基于《社会保险法》的执行,运用工业企业相关数据以及双重差分模型,识别并评估企业的社保缴费对全要素生产率的影响,讨论了其作用机制。实证分析结果表明,相对于非改革区,《社会保险法》的执行显著提升了该地区工业企业的全要素生产率;异质性分析表明,该政策效应在改革地区资本密集型、融资约束严重、国有性质及规模大的工业企业样本中更为显著。进一步的作用机制分析发现,《社会保险法》导致社保缴费负担的增加,促使工业企业通过利用资本替代劳动力要素的投入,倒逼企业技术创新实现转型升级,激励员工积极性,提升劳动生产率三条路径影响其全要素生产率。

The improvement of total factor productivity is an important driving force for the high-quality development of industrial enterprises.Exploring the impact of social security contribution burden on the total factor productivity of industrial enterprises is helpful to fully understand the multiple effects of social security system and provide parameter support for the analysis of the balance between social security and enterprise development.Through the theoretical analysis of the relationship between enterprises'social security contributions and total factor productivity,based on the implementation of the Social Insurance Law,using the data of industrial enterprises and the DID model,this paper identifies and evaluates the impact of enterprises'social security contributions on total factor productivity,and discusses its mechanism.The empirical results show that the implementation of the Social Insurance Law has significantly improved the total factor productivity of industrial firms in the region compared with the non-reform region;Heterogeneity analysis shows that the effect of the policy is more significant in the samples of capital intensive,severe financing constraints,state-owned and large-scale industrial enterprises in the reform areas.Further analysis of the action mechanism shows that the Social Insurance Law has led to an increase in the burden of social security contributions,prompting industrial enterprises to use capital to replace the input of labor factors,forcing enterprises to achieve transformation and upgrading through technological innovation,and encouraging employees to improve labor productivity,throughthese three paths to affect their total factor productivity.The research complements the relevant content of the analysis of the economic consequences of social insurance contributions,provides data reference for improving the social insurance system.