社会保险缴费对企业新质生产力影响的研究

A Study of the Impact of Social Security Contribution on Firms’New Quality Productive Forces

在当前我国经济发展的阶段性转变时期,发展企业新质生产力与实现高质量发展成为广泛关注的重要议题。基于中国2013—2022年A股上市企业的经验数据,实证检验社会保险缴费率对企业新质生产力水平的影响。结果表明,社会保险缴费率与企业新质生产力之间并非简单的线性关系,存在显著的倒“U”形趋势。机制层面,改变企业人力资本结构和调整创新投入是社会保险缴费影响企业新质生产力水平的作用路径。异质性分析发现,在劳动密集型和低资本密集度的企业中,社会保险缴费率与企业新质生产力之间的倒“U”形曲线更为陡峭,并且企业新质生产力水平会在更低的缴费率上达到峰值。研究结论为深入推进社会保障制度改革、企业加快形成新质生产力以实现高质量发展提供了新的经验证据与有益参考。

During the current transitional phase of China’s economic development,the development of new quality productive forces of firms and the realization of high-quality development have become crucial issues of wide concern.Using the data of A-share listed firms in China from 2013 to 2022,we empirically examine the impact of the social security contribution rate on firms’new quality productive forces.The results reveal that the relationship between social security contribution rate and firms’new quality productive forces is not a simple linear relationship,and there is a significant inverted U trend.Further,on a mechanistic level,changing the structure of corporate human capital and adjusting innovation investments are the pathways through which social insurance contributions impact the level of new quality productive forces in firms.Heterogeneity analysis demonstrates that the inverted U curve is steeper in labor-intensive and low-capitalintensive firms,and the level of firms’new quality productive forces would peak at a lower contribution rate.These results provide new empirical evidence and advantageous references for the relevant authorities to further advance social security system reforms and for firms to accelerate the formation of new quality productive forces to achieve high-quality development.