Informatization Input,Business Performance And Manufacturing Employment Elasticity

The pressure on employment caused by the transformation and upgrading of China's manufacturing industry has increasingly become one of the important issues concerned by the academia on account of the thoroughly carry out and implement of the national strategy of"informatization drives industrialization,and industrialization promotes informatization"..However,the impact of informatization on output and employment is difficult to determine due to the "Product paradox" of information technology.Sampling the listed manufacturing companies,this paper defines the informatization input as the sum of the hardware input and software input of enterprise informatization,and then investigates the micro-performance(enterprise operating performance)and macro-performance(employment elasticity of manufacturing industry)of informatization input respectively in terms of individual quantity and total quantity.Firstly,taking 139 companies as samples from 2009 to 2013,investigates the impact of the input of informatization hardware capital and software capital on enterprise performance(output)with the individual indicator.Secondly,sampling the listed manufacturing companies as a whole from 2005 to 2015,with the total amount index to construct the industrial production function,and then adopt the time series model to investigate the impact of per capita informatization level of the manufacturing industry on per capita capital(capital-labor ratio).Thirdly,the calculation formula of employment elasticity and the employment elasticity of manufacturing industry is derived based on industrial production function and the time series mode respectively.The empirical results show that:At the enterprise level,the input of information-based hardware capital,the number of highly educated employees,the total assets and the asset-liability ratio of 139 sample companies in 2009-2013 have a significant positive impact on enterprise performance(output),and the input of information-based software in the manufacturing industry has a significant negative impact on enterprise performance(output).Meanwhile,the number of highly educated employees has an obvious regulating effect on the input of enterprise informatization,it promotes the positive effect of hardware input on performance(output)and inhibits the negative effect of software input on performance(output),and this regulating effect will lead to changes in the enterprise's demand for the structure and quantity of employees in the process of informatization promotion.At the industry level,the increase of informatization input has a significant promoting effect on the growth of per capita capital(capital-labor ratio).The increase in the capital-labor ratio means the decrease of the absorptive capacity of manufacturing capital to labor.This deepens the depth of manufacturing capital and makes information technology develop in the way of capital replacing labor.From 2005 to 2015,the employment elasticity of the industry represented by the sample companies was 0.0947,indicating that the employment capacity of information technology for manufacturing industry was very limited.This paper reveals that although the informatization input at the industry level fails to significantly increase the employment absorption capacity of the manufacturing industry.However,at the enterprise level,the increase of highly educated employees can effectively improve the promoting effect of informatization input on output of manufacturing enterprises.That is,informatization input can effectively promote the enterprise's micro performance.