Minimum wage and corporate investment efficiency: Evidence from China

被引：2
|
作者：
Zhu, Zhengjie [1 ,2 ]
Tian, Jia [3 ]
机构：
[1] Harbin Univ Commerce, Tourism & Cuisine Sch, Harbin 150028, Heilongjiang, Peoples R China
[2] Harbin Univ Commerce, Publ Finance & Adm Sch, Harbin 150028, Heilongjiang, Peoples R China
[3] Duke Univ, Trinity Coll Arts & Sci, Durham, NC 27708 USA
来源：
FINANCE RESEARCH LETTERS | 2024年 / 59卷
关键词：
Minimum wage; Investment efficiency; Listed company;
D O I：
10.1016/j.frl.2023.104782
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This article uses China's A-share listed companies from 2002 to 2020 as a sample, to study the relationship between MW increases and company investment efficiency. The results show that the minimum wage has a significant promotion effect on the investment efficiency of enterprises. The reasons for this situation are: on the one hand, an increase in the minimum wage will increase operating expenses and labor costs, and companies will proactively adjust their production and investment strategies. On the other hand, the increase in per capita capital stock will promote the creativity of enterprises, bring about technological progress and productivity improvement.
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页数：7
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