Research On The Influence Of The Implementation Of Social Insurance Law On Enterprise Innovation

Social insurance is an important institutional arrangement for safeguarding social justice,improving living standards,and realizing common prosperity.After the introduction of "Social Security Law" in 2011,social security collection has the legal basis,the collection management mechanism is also further consolidated,as punishment for illegal payment subject strengthens,enterprises want to escape payment intention is less;As an important participant in social insurance,the expenditure of social insurance premiums paid by enterprises is closely related to operating costs,cash flow,R&D investment and human resources.Under the current social situation of seeking high-quality sustainable development and forming innovation-driven economy,the innovation level of enterprises will arouse the close attention and discussion of researchers.Enterprises need a lasting process to carry out innovation activities.From the initial investment of capital to the final output of innovation results,whether the implementation of the Social Insurance Law will have an impact of enterprises’ innovation activities is the purpose of this thesis.Based on this,with the help of the data of China’s A-share listed companies from 2007 to 2016,this thesis takes the implementation of the Social Security Law in 2011 as an exogenous policy variable to build a difference-difference model,analyze the impact of the implementation of the Social Security Law on the level of enterprise innovation.The results show that the implementation of Social Insurance Law has a significant promoting effect on enterprise innovation.Parallel trend analysis and placebo test are carried out to show that the empirical conclusion is robust.Further through the mechanism test,it is found that the implementation of the Social Insurance Law will reduce the number of employees,improve the enthusiasm of employees and improve labor productivity,which are important channels affecting enterprise innovation.Heterogeneity research shows that the social insurance has a more significant impact on non-state-owned enterprises and enterprises with a long operating history.The research results of this paper reveal the path of social insurance law affecting enterprise innovation and development under the current development background of China,which not only provides the evidence basis for social security law to improve enterprise innovation level,but also provides a reference basis for the formulation of relevant national social security policies in the future.