摘要
数智化转型对推动经济高质量发展发挥了重要作用,但学界对其能否改善企业内部收入分配尚存在较大分歧。本文基于2007—2022年A股上市公司数据,通过词频-逆文档频率(TFIDF)法构建企业数智化转型指数后,实证检验其对管理层与员工间薪酬差距的影响。研究发现,尽管数智化转型显著提高了管理层和员工的平均薪酬水平,但员工薪酬的增幅不及管理层的一半,导致薪酬差距拉大。这种影响主要源于转型中的高级阶段,即数字化和智能化阶段。在使用工具变量法以及利用“智慧城市”作为政策冲击构建多期双重差分模型,并经过一系列稳健性检验后,上述发现依然成立。机制检验表明,数智化转型通过提升管理层权力加剧了薪酬差距,但同时也会优化企业人力资本结构和职能组织结构,部分抑制薪酬差距的扩大趋势。异质性分析表明,在高代理成本企业中,数智化转型对薪酬差距的正向影响相对较弱;且这种正向影响主要表现在高科技和技术密集型行业中,而在劳动密集型行业中,却能显著抑制薪酬差距的扩大。进一步分析中,从数量和质量两个维度衡量企业高质量创新,发现薪酬差距对创新呈显著倒U形影响。本文的研究启示在于,政府和企业在推进数智化转型中应统筹考虑效率与公平,完善利益分配机制,引导数智化转型向更加包容的方向发展。
Digital and Intelligent Transformation(DIT)has played an important role in promoting high-quality economic development,but there is still considerable disagreement in academia about whether it can improve the internal income distribution of enterprises.Based on data from A-share listed companies from 2007 to 2022,this paper constructs a DIT index for enterprises using the Term Frequency-Inverse Document Frequency(TF-IDF)method,and then empirically tests the impact of DIT on the pay gap between management and employees.The study finds that although DIT significantly increases the average pay levels of management and employees,the increase for employees is less than half that of management,leading to a widening pay gap.This impact mainly stems from the advanced stages of transformation,namely the digitalization and intelligence stages.These findings remain robust after applying the instrumental variable method,constructing a multi-period Difference-in-Differences model using the"Smart City"as a policy shock,and conducting a series of robustness tests.Mechanism analysis shows that DIT intensifies the pay gap by enhancing management's power,but at the same time,it also optimizes the human capital structure and functional organizational structure of enterprises,partially suppressing the widening trend of the pay gap.Heterogeneity analysis shows that in enterprises with high agency costs,the positive impact of DIT on the pay gap is relatively weak;and this positive impact is mainly reflected in high-tech and technology-intensive industries,while in labor-intensive industries,it can significantly suppress the widening of the pay gap.Further analysis,measuring high-quality innovation of enterprises from both quantitative and qualitative dimensions,reveals that wage disparity has a significant inverted U-shaped effect on innovation.The research insight of this paper is that in promoting DIT,the government and enterprises should take into account both efficiency and fairness,improve the benefit distribution mechanism,and guide DIT to develop in a more inclusive direction.
作者
崔祥民
赵治理
XIANGMIN CUI;ZHILI ZHAO(School of Economics and Management,Jiangsu University of Science and Technology;School of Humanities and Social Sciences,Jiangsu University of Science and Technology)
出处
《产业经济评论》
2025年第4期56-82,共27页
Review of Industrial Economics
基金
国家社会科学基金一般项目“数字赋能平台公司高质量创业的内在机制与实现路径研究”(批准号:22BGL053)的阶段性成果。
关键词
数智化转型
薪酬差距
收入分配
技术进步
高质量创新
Digital and Intelligent Transformation
Pay Gap
Income Distribution
Technological Progress
High-Quality Innovation
