摘要
美国不断升级对华制裁力度,对我国企业用人决策和就业市场稳定产生冲击。本文系统识别出受到制裁影响的国内上市公司,并从企业雇佣的视角出发,实证检验美国制裁冲击对我国企业用工情况的综合影响效应。研究发现,制裁冲击虽然会通过加剧融资困境、压缩海外业务和提升雇佣成本使企业缩减雇佣规模,但较强的企业自身竞争力和较高的政府扶持力度可以有效缓解因制裁冲击所引发的劳动雇佣规模缩减问题。值得关注的是,制裁冲击也存在客观上的倒逼效应,促使企业升级雇佣结构,具体表现为提高了高学历和技术人员比例。本文丰富了对制裁冲击影响的认识,有效启发企业、市场及政府机构如何应对经济制裁,防微杜渐,减少其对就业形势的不利影响。
The escalating unilateral sanctions imposed by the United States on China have significantly impacted corporate hiring decisions and the stability of the employment market.What are the actual conditions faced by affected enterprises?How should governments and businesses respond?This study systematically identifies domestic listed companies impacted by U.S.sanctions and empirically examines the comprehensive effects of sanction shocks on corporate employment dynamics from the perspective of labor demand.The findings reveal that sanction shocks lead to workforce reduction by exacerbating financing constraints,compressing overseas operations,and increasing hiring costs.However,strong corporate competitiveness and enhanced government support can effectively mitigate the negative impacts of such shocks on employment scale.Notably,sanction shocks also exhibit a reverse-forcing effect,driving firms to upgrade their employment structures,as evidenced by increased proportions of highly educated and technically skilled personnel.This study enriches the dialectical understanding of sanction impacts in capital markets and provides practical insights for businesses,markets,and governments to counteract economic sanctions,thereby preventing incremental risks and alleviating adverse effects on employment stability.
作者
窦超
李峥
刘巍
杨雪
Dou Chao;Li Zheng;Liu Wei;Yang Xue(School of Business,Central University of Finance and Economics;School of Economics and Management,Beijing Jiaotong University)
出处
《国际金融研究》
北大核心
2025年第7期75-85,共11页
Studies of International Finance
基金
国家自然科学基金面上项目“制裁冲击与公司财务行为:基于美国对华管制清单的研究”(72372172)
国家自然科学基金青年项目“经济制裁冲击的溢出效应研究:影响因素、作用机制和经济后果”(72402009)
国家社会科学基金重点项目“激活民营企业内生动力和创新活力研究”(24AZD017)
中央高校基本科研业务费
中央财经大学商学院博士生重点选题项目“制裁冲击与企业创新——基于美国对华单边管制清单的研究”资助。
关键词
制裁冲击
雇佣规模
雇佣结构
应对机制
Sanction Shock
Employment Scale
Employment Structure
Coping Mechanism
