| Corporate social insurance payment and related question have aroused widespread concern from academics.Enterprises all agree that the excessive payment of social insurance has exacerbated their cost burden and adversely affected their production,innovation,labor recruitment,etc.Therefore,corporate often underpayments the social insurance fee.Some scholars also believed that excessive social insurance fee is an important driving force for the rapid rise of Chinese labor costs,it squeezing the enterprises investment in technological and innovation research,which have a negative effect on corporate transformation and upgrading.However,the impact of social insurance on enterprises should not be a single linear relationship,it could have both positive and negative affect.If social insurance is considered as an important aspect of an enterprise's investment in its labor force,it can effectively stabilize labor expectations and stimulate its labor supply,thereby promoting labor productivity and innovation performance.Based on above issue,at this stage,the impact of corporate social insurance investment on corporate economic efficiency is not clear,the positive effects have not been accurately estimated.First,the analysis of corporate social insurance investment should based on the actual corporate social insurance payment,not the policy rate,since in actual operation,there is a large difference between the policy rate and the actual payment;second,the impact of social insurance on economic efficiency should be analyzed from a more medium-to-long-term perspective.It could be slightly biased if only consider from the negative part;finally,the impact of corporate social insurance and its mechanism should use micro data to further clarity how social insurance affects the corporate economic efficiency.Therefore,this thesis intends to conduct an empirical analysis on the impact of corporate social insurance investment on corporate economic efficiency and its mechanism through "China Enterprise General Survey"(CEGS).First,this paper uses large sample data to calculate the actual social insurance payment rates of different types of enterprises,which can show the actual payment rates and the heterogeneity of social insurance payment of various enterprises.Second,the regression analysis between corporate social insurance and corporate economic efficiency;third,further testing the social insurance investment's influence on the intermediary channels of enterprises,clarifying what aspects affect social insurance can provide empirical references for policy recommendations.Based on above questions,this thesis mainly adopts the "micro-empirical" research method,supplemented by other qualitative research methods,such as literature review and theoretical research.Specifically,this paper mainly uses OLS regression to make causal inferences between social insurance investment and corporate economic efficiency,it also uses propensity score matching(PSM)and mediation effect tests to test the robustness of the results and the mediation influence channels.Using multiple econometric methods can not only make accurate empirical judgments on corporate social insurance investment and corporate economic efficiency,but also further test the robustness of the results and the intermediary mechanism.In addition to micro-empirical method,this paper uses social welfare theory,cost-benefit theory model,and human capital theory as theoretical models.It also conducts a qualitative review of relevant literature,the development process of social insurance in China,and social insurance investment in typical foreign countries.The above methods provides theoretical support and empirical references for empirical research and policy recommendations.The innovations of this paper are mainly: first,the innovation of research perspective.This thesis treats social insurance as a company's investment in labor rather than a cost.Different from most studies that regard social insurance investment as the “burden” of business operation and production,this thesis has clarified the positive impact of social insurance on business operations,which broadened the research perspective.Second,the innovation in research data.This paper uses first-handed survey data to conduct empirical research,which is a relatively comprehensive enterprise micro-level data under the new economic background.Therefore,the innovation of this thesis is the empirical analysis of social insurance using the above data.In addition,the matching data from both employer and employee side has fully proved the heterogeneity of social insurance among similar studies.Third,innovation in practical applications.The paper finds that social insurance investment has a positive effect on enterprises,especially for large enterprises and technology-intensive enterprises,so enterprises should look at social insurance investment more rationally.Therefore,to a certain extent,this thesis solves a practical problem of enterprise's insufficient motivation for social insurance payment.Of course,there are some shortcomings in this thesis.First,it lacks theoretical breakthrough.Second,this thesis proposes that within a certain limit,higher social insurance can positively promote the economic efficiency of enterprises.However,the paper does not accurate measure the range of values,which require further research.In summary,the structure of this thesis is:Chapter 1: Introduction.It mainly puts forward the research questions,background and significance of this paper,combs the existing literature,clarifies the research ideas and methods,and grasps the innovation points and deficiencies of the research.Chapter 2: Definition of core concepts and theoretical basis.This chapter will first define the concepts used in this paper and clarify the research objects.Second,this chapter will also build the theoretical foundation,including social welfare theory,cost-benefit theory model,and human capital theory.Chapter 3: The construction of corporate social insurance and corporate economic efficiency system.Based on the previous chapter,this chapter builds the research framework of this thesis.It is mainly derived from two aspects: one is to sort out the evolution of domestic and foreign corporate social insurance investment;the other is to construct the economic efficiency system of the enterprise,which provides a framework model for the later research.Chapter 4: Analysis the current situation of Chinese corporate social insurance investment.This chapter uses micro data to analyze the current status of social insurance contributions in China.Descriptive statistics of social insurance contributions were conducted by enterprises in different regions,different years,different ownerships and different competitiveness.Chapter 5: The impact of corporate social insurance contributions on labor productivity.Through a large micro-sample data,this chapter will conduct a comprehensive empirical analysis of the impact of social insurance on labor productivity.First,variable selection,model construction,descriptive statistics.Then,using benchmark measurement,it provides propensity score matching,heterogeneity analysis and other methods,the empirical analysis was made on the impact of social insurance and labor productivity.Chapter 6: The impact of corporate social insurance contributions on innovation performance.This chapter analyzes the affect of social insurance and innovation performance.Similarly,this chapter conducts variable selection,model construction,descriptive statistics,and then uses benchmark regression models,mediation effect models,and heterogeneity analysis to conduct an empirical analysis of the effects of social insurance and innovation performance.Chapter 7: An analysis of the mechanism by which social insurance affects corporate performance.This chapter is an important explanation section of this paper,using empirical data to further explain how social insurance has an impact on enterprises,and to provide stronger support for the empirical conclusions of this article.Chapter 8: Research conclusions,policy recommendations and prospects.Through the research of the above eight chapters,this paper finds: First,the actual contribution rate of corporate social insurance at this stage is about 16%,which is lower than the policy rate,and more than 90% of enterprises are lower than the policy rate.In addition,state-owned enterprises,Hong Kong,Macao and Taiwan enterprises,economically developed regions,enterprises with larger scales,larger export shares,and higher market shares have higher social insurance levels and more standardized payments.Second,within the reasonable range of social security investment,higher social insurance investment will help release the effective labor supply of employees and promote the improvement of economic efficiency of enterprises.Through regression analysis,it is found that social insurance investment has a positive effect on corporate economic efficiency.Specifically,the increase in social insurance investment has improved labor productivity and innovation performance.Third,the above incentive effect is heterogeneous,which is more obvious for large-scale and technology-intensive enterprises.Heterogeneity analysis found that the incentive effect of social insurance is more obvious for large company and technology-intensive company;for traditional labor-intensive company,the cost effect is more obvious.Fourth,higher social security investment can attract high-quality human capital,release the spirit of innovation,and improve the efficiency of corporate management,thereby improving the overall economic efficiency of the enterprise.Through the mechanism inspection,it was found that social insurance promotes the development of enterprises by affecting human capital,the spirit of innovation and management efficiency.Based on the above research conclusions,this article puts forward several policy suggestions: first,set a contribution rate that is compatible with economic development,second,pay attention to the accumulation effect of human capital,third,pay attention to the heterogeneity of insurance investment,finally,establish a multilevel social insurance system.Thus,this thesis found that social insurance investment is not a single cost for enterprises.Higher social insurance investment in a reasonable range is indispensable for the healthy and sustainable development of Chinese enterprises.Governments and enterprises should exert the positive effects of social insurance as much as possible,guide enterprises to treat social insurance inputs rationally,turn social insurance inputs into one of the driving forces for increasing labor output,and better promote the prosperity and development of market economy and labor welfare protection. |
PDF Full Text Request