Empirical Research On The Influence Factors Of Enterprise Wage Growth And The Comparison Among Different Nature Of Enterprise

For the past few years, continuous development of market economy and the deepening of the reform are proceeding in China. In the process, the problem of income distribution has become the focus of social problems. Wage growth, as important indicators of economic growth and the important basis of staffs’ reasonable wages growth, will have a profound impact on macroeconomics and micro main body. However, Chinese wage growth mechanism is not perfect and systematic, and randomness is larger, which results a series of problems, for example, wage growth of employees has trend of slowing, gross payroll continues to decline, and the proportion of the total GDP in primary distribution is injustice. Speed of wage growth is behind the CPI growth rate, which makes the workers get little dividend of rapid economic development, which leads to the increasing income distribution disparity, and run opposite way to request of economic growth, etc. Reasonable wage growth mechanism is an institutionalized operation mode of the reasonable and sustainable growth of the enterprise, coordinating with the increase of economic benefits of the enterprise, both in total wages and average wages of reasonable growth, including price factors and the actual purchasing power of the worker. In view of this problem of the normal salary increase mechanism, this paper investigates the influence factors of industrial enterprise wage growth, and the differences of different nature enterprises. On the basis of Empirical Research, this paper gives some countermeasures and suggestions to establish and improve the salary increase mechanism for the enterprises.Through combing to the domestic and foreign classical economics theory and literature about salary.increase, author found that wage growth factors changed as the economic problems constantly emerged. According to the influence factors of different stages, author selects the seven factors of GDP, CPI and unemployment rate, the labour productivity, the enterprise profit, human capital level, minimum wage growth, from four aspects, economic perspective, enterprise perspective, personal perspective, and the system perspective. This article establishes2005-2012 provincial panel data model, adopts the method of empirical study and comparative study, and investigates the effect of various factors on the wage growth. In this paper, the all samples are estimated in static fixed effects model, random effects model, first difference GMM model, and system GMM model. The results show that GDP, inflation rate and labour productivity has significant positive effect on wage growth. Regional economic growth, price level and the labour productivity is the main facto.r to affect the wage growth; however, the influences diminish under the action of wage stickiness. This article also estimates three subsample different enterprise natures, such as state-owned enterprises, private enterprises, foreign-funded enterprises in random effects model and system GMM model, the results show that enterprises owns different natures, and have different science and technology and management level, personnel, labour relations, deal with different national policy measures, the influence factors of wage growth are also different. In accordance with the empirical research conclusion, relevant countermeasures and suggestions are put forward to in the paper:(1) establishing reasonable salary increase mechanism;(2) improving the current compensation system;(3) augmenting the labour productivity of enterprise;(4) carrying on different management in enterprises of different nature.In this paper, there are two possible innovations:(1) the selection of the influence factors of wage growth has certain innovation. Based on the related research both at home and abroad, from the macroeconomic factors, business factors, personal factors and system factors in four aspects:the selection factors, including GDP, CPI and unemployment rate, labour productivity of enterprises, corporate profits, human capital, especially the minimum wage growth as the institutional factors in the salary model in the study has certain innovative.(2) The article gives introduction of enterprise nature as adjustment variable. This paper compares the different nature enterprise wage growth model, explores different extent of influencing factors, and provides the empirical conclusions and constructive Suggestions to set up the mechanism of normal wage growth.Because of the limitation of various factors such as variables and data in this paper, there are some insufficient existed in the research contents and conclusions. Based on the limitations of this study, the future research can be carried out in the following several aspects:(1) in this paper, we study the influence factors of wage growth, because of the complexity and diversity, and even lists the different Angle for the research of this paper the influence of factors, but still cannot complete general wage growth mechanism, the influence of the future research can be in-depth study from the aspects of principle of wage growth mechanism.(2) Based on the study, we use second-hand data, a single data source, and because of the channels of data statistics, some data is not ideal, future researchers can carry on the questionnaire investigation, interview method and other methods to collect data, so that the study is more conducive to the accuracy and availability.