The diffusion of industrial robot technology has coincided with increasing divergence in firms’market shares,potentially leading to enhanced market power and shifts in the distribution of factor income.This paper inv...The diffusion of industrial robot technology has coincided with increasing divergence in firms’market shares,potentially leading to enhanced market power and shifts in the distribution of factor income.This paper investigates the impact of industrial robot adoption on firms’labor income share and explores the underlying mechanisms,with particular attention to the rise of superstar firms.The findings suggest that,overall,the use of industrial robots contributes to an increase in labor’s income share,reflecting a generally favorable trend for labor’s position in primary income distribution.This effect,however,is markedly heterogeneous across different types of firms,regions,and industries.A significant concern is that robot adoption strengthens firms’relative market power within industries,fueling the emergence of superstar firms.These firms jointly influence labor income share through both a competition effect and a demonstration effect:the former is the main cause of declining labor shares,while the latter introduces a new channel through which labor’s share is further reduced.Although antitrust policies can help improve labor’s income share,they are not well-suited to curbing the market power expansion driven by industrial robot adoption.Thus,the concern over superstar firms’suppression of labor income remains.Amid the intensifying trend of“machines replacing humans”,this paper offers empirical insights into how to address the distributional implications brought about by the rise of superstar firms.展开更多
This study examines the spillover effects of international film co-production using data on films released in the Chinese mainland from 2006 to 2018.The results indicate that local film producers can enhance their pro...This study examines the spillover effects of international film co-production using data on films released in the Chinese mainland from 2006 to 2018.The results indicate that local film producers can enhance their product performance by leveraging the expertise and practices of more sophisticated foreign firms during international co-productions.Heterogeneous effects were observed related to budget size,firm size,ownership structure,and cultural distance.These spillover effects can occur through two mechanisms:the demonstration effect(the adoption of more advanced technology)and the labor mobility effect(actors or directors upgrading their skills).An instrumental variable approach is employed to address endogeneity concerns.This study contributes to the spillover effects of international co-production,which has been neglected in the literature.Its empirical findings suggest that engaging in international co-production can potentially boost productivity for firms from developing countries.Host country governments may consider offering preferential policies to promote international co-production as an alternative to foreign direct investment(FDI),thereby fostering positive spillover effects.展开更多
基金supported by General Project of the National Social Science Fund of China(NSSFC),“Mechanisms and Strategies of Artificial Intelligence’s Impact on Inter-firm Wage Disparities”(Grant No.21BJY097).
文摘The diffusion of industrial robot technology has coincided with increasing divergence in firms’market shares,potentially leading to enhanced market power and shifts in the distribution of factor income.This paper investigates the impact of industrial robot adoption on firms’labor income share and explores the underlying mechanisms,with particular attention to the rise of superstar firms.The findings suggest that,overall,the use of industrial robots contributes to an increase in labor’s income share,reflecting a generally favorable trend for labor’s position in primary income distribution.This effect,however,is markedly heterogeneous across different types of firms,regions,and industries.A significant concern is that robot adoption strengthens firms’relative market power within industries,fueling the emergence of superstar firms.These firms jointly influence labor income share through both a competition effect and a demonstration effect:the former is the main cause of declining labor shares,while the latter introduces a new channel through which labor’s share is further reduced.Although antitrust policies can help improve labor’s income share,they are not well-suited to curbing the market power expansion driven by industrial robot adoption.Thus,the concern over superstar firms’suppression of labor income remains.Amid the intensifying trend of“machines replacing humans”,this paper offers empirical insights into how to address the distributional implications brought about by the rise of superstar firms.
基金support from the National Natural Science Foundation of China(No.72403021)Beijing Municipal Social Science Foundation(No.22JCC091)+2 种基金National Social Science Foundation of China(No.20210052)Program for Innovation Research in Central University of Finance and Economicsand Fundamental Research Funds for the Central Universities(No.FRF-BR-23-08B).
文摘This study examines the spillover effects of international film co-production using data on films released in the Chinese mainland from 2006 to 2018.The results indicate that local film producers can enhance their product performance by leveraging the expertise and practices of more sophisticated foreign firms during international co-productions.Heterogeneous effects were observed related to budget size,firm size,ownership structure,and cultural distance.These spillover effects can occur through two mechanisms:the demonstration effect(the adoption of more advanced technology)and the labor mobility effect(actors or directors upgrading their skills).An instrumental variable approach is employed to address endogeneity concerns.This study contributes to the spillover effects of international co-production,which has been neglected in the literature.Its empirical findings suggest that engaging in international co-production can potentially boost productivity for firms from developing countries.Host country governments may consider offering preferential policies to promote international co-production as an alternative to foreign direct investment(FDI),thereby fostering positive spillover effects.
