高师理科学刊2025，Vol.45Issue(6)：31-41,11.DOI:10.3969/j.issn.1007-9831.2025.06.007
员工持股计划对企业劳动收入份额的影响效应与作用机制
Influence effect and mechanism of action of employee stock ownership plans on the share of labor income in enterprises
摘要
Abstract
Based on 2012-2023 sample data from A-share listed companies,this study empirically examines the effects and mechanisms of employee stock ownership plans on the share of labor income in enterprises.The empirical results indicate that employee stock ownership plans significantly increase the share of labor income in enterprises,alleviating the level of financing constraints and enhancing employees' bargaining power are important pathways for its impact;the effect of employee stock ownership plans on increasing the share of labor income is more significant in state-owned enterprises,labor intensive enterprises and capital intensive enterprises;when the employee subscription ratio is high,the number of participants is large,the lock up period is longer,and the duration is longer,the employee stock ownership plan is more conducive to increasing the share of labor income in the enterprise;compared to management,employee stock ownership plans have a greater marginal effect on increasing the labor income share of ordinary employees.At the same time,several suggestions are provided to optimize the employee stock ownership system.关键词
员工持股计划/劳动收入份额/融资约束/员工议价能力Key words
employee stock ownership plans/labor income share/financing constraint/employee bargaining power分类
管理科学引用本文复制引用
金开文,朱力..员工持股计划对企业劳动收入份额的影响效应与作用机制[J].高师理科学刊,2025,45(6):31-41,11.基金项目
安徽省社科规划重点项目(AHSKZ2019D026) （AHSKZ2019D026）
