年金与企业竞争力提升

发布时间：2018-02-05 05:29

本文关键词： 企业年金企业竞争力高管激励员工激励　出处：《中央财经大学学报》2017年06期 　论文类型：期刊论文

【摘要】：企业年金既是社会保障制度的重要环节,也是企业内部激励机制的有机构成,对于企业细胞的价值创造意义重大。笔者使用正处于年金制度普及阶段的中国上市公司样本,研究了年金这项长效激励机制对于企业竞争力的影响,并使用中介效应模型进一步检验了其内在的作用机制。研究发现:建立年金制度确实能够提升企业竞争力水平,且这一正向的"竞争力效应"在经过内生性控制、样本调整以及估计区间调整等一系列稳健性处理之后仍然显著。进一步的机制分析表明,企业年金的员工激励属性是上述"竞争力效应"的重要来源,建立年金制度可以通过提高员工教育素质、增强员工结构稳定性以及促进人力资本投入的渠道进一步提升企业竞争力;但企业年金的高管激励效应则相对较弱,未能通过中介效应检验。上述研究结论不仅丰富了我国企业年金制度的治理效果类文献,也为微观企业提升其竞争力水平提供了一定的方向性参考。
[Abstract]:Enterprise annuity is not only an important link of social security system, but also an organic component of internal incentive mechanism, which is of great significance to the value creation of enterprise cells. This paper studies the influence of annuity, a long-term incentive mechanism, on the competitiveness of enterprises, and further tests its internal mechanism by using the intermediary effect model. The study finds that the establishment of annuity system can really enhance the competitiveness of enterprises. Moreover, this positive "competitive effect" is still significant after a series of robust treatments such as endogenous control, sample adjustment and estimation interval adjustment. The employee incentive attribute of the enterprise annuity is the important source of the "competitive effect" mentioned above, and the establishment of the annuity system can improve the educational quality of the staff. The channels to enhance the stability of staff structure and the investment of human capital further enhance the competitiveness of enterprises, but the incentive effect of senior executives in enterprise annuity is relatively weak. The above conclusion not only enriches the literature on the governance effect of the enterprise annuity system in China, but also provides a certain directional reference for micro enterprises to enhance their competitiveness.
【作者单位】：安徽财经大学会计学院;
【基金】：国家自然科学基金项目“高管激励与资本结构动态调整”(项目编号:71540004)
【分类号】：F270
【正文快照】： 一、引言自2012年开始我国经济步入新常态阶段,在此阶段,如何破题经济结构的转型升级,从要素驱动与投资驱动走向创新驱动,实现改革成果共享,成为全面建成小康社会目标下的重难点问题。微观企业是宏观经济活动的细胞,经济增长离不开企业细胞的价值累积,因此从微观视阈出发,探索

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