Empirical Research On The Effect Of Labor Cost Control To The Performance Of Listed Companies In Manufacturing Industry

The report of the 19 th CPC National Congress emphasized to accelerate the building of a manufacturing power,promote the deep integration of artificial intelligence and the real economy,and improve the human capital services.In 2017,China's GDP reached 82.48 trillion yuan with the growth rate of 7.5%,manufacturing output ranked first in the world.In the entire national economy,labor-intensive industries account for a relatively large share.In order to promote the development of "re-industrialization",China has put forward "made in China 2025",and other countries have also put forward relevant strategies,such as the concept of "Industry 4.0" in Germany,the AMP plan in the United States and so on.Of course,China is also facing a lot of pressure while promoting the high-quality development of manufacturing industry.According to the 2016 survey of business operators in China,the biggest problem for enterprises at present is the rising costs-labor costs and co-operatives.In April 2018,China and the Global Manufacturing Industry Competitiveness showed that,for the manufacturing industry in China,the rising labor cost is one of the important reasons for the weakening of the competitive advantage of China's manufacturing industry.In the past,the "demographic dividend" was considered to be the competitive advantage of the development of China's manufacturing industry.But at present,due to the large-scale reduction of the labor,the inflation of prices,the adjustment of the Labor contract Law and so on,the increase in labor costs has been driven.This has an impact on labor-intensive industries inevitably.As a key component of enterprise operating cost,labor cost affects the input-output level of enterprise resources to a certain extent.Therefore,manufacturing enterprises listed on Shanghai and Shenzhen main Board A shares are selected as the research object,and I analyze the relationship between labor cost control and performance in this paper.First of all,this paper reviews and collates the literature on the relationship between labor cost control and performance,and lays the foundation for the later papers.Secondly,it expounds the connotation of labor cost and labor cost control,and carries out detailed development of the total cost,structure and benefit control analysis indicators,which paves the way for empirical analysis.Then it elaborates the status quo and problems of labor cost control in listed companies.Thirdly,by selecting the appropriate total labor cost,structure,benefit index and performance index,the relationship model of the impact of labor cost control on performance of listed companies in manufacturing is established.In addition,the final score of corporate debt repayment,operation,development and profitability is determined by Factor Analysis(FA),and the relationship model is tested by Pearson correlation analysis and linear regression method.The empirical research results show that the listed companies in the manufacturing industry can increase the per capita labor cost while controlling labor costs as a proportion of operating costs which is beneficial to stimulating the sales revenue value and profit created by the labor cost of the employee unit and promoting the performance level of the enterprise.Finally,based on the status,questions and research conclusions of the labor cost control of listed companies in manufacturing,the paper proposes the artificial cost control system from the perspective of establishing the artificial cost control system at the internal level and strengthening the legal supervision and enforcement at the external level.