Research On The Influence Of Key Industrial Policies On The Share Of Enterprise Labor Income

Recently,with the steadily growing economic and social progress,the increasing scale of capital accumulation and the growing share of capital-based distribution in the primary distribution process have led to a general downward trend in the global share of labour earnings.A vigorous pace of growth.A decline in the proportion of labour earnings will not only affect the national consumption potential,but also widen the gap between the rich and the poor,hindering the process of achieving common prosperity.Local governments are playing an increasingly important role in regulating economic development.As the main means of government regulation,industrial policy has received extensive attention from the academic circles.Therefore,this paper studies its impact on labor in my country’s manufacturing enterprises from the perspective of key industrial policies.The impact of income share,and explore new ways to increase the labor income share of enterprises.Based on the theory of new structural economics and the theory of factor reconfiguration,this paper discusses the mechanisms by which major industrial policies affect the labour income share of manufacturing firms in three ways: the direct effect of key industrial policies,the financing constraint mechanism,and the labor skill structure mechanism.This paper concludes that the crucial industrial policy,by adjusting the structure of the industries and releasing key development signals,reconfigure production factors,which further leads to an increase in eduction in the proportion of capital and the proportion of labour earnings;in terms of financing constraints,enterprises classified as key industrial policies have the greatest impact on information transmission effects and Under the dual effect of resource allocation effect,it is easier to obtain resources,which will help companies to gain additional financial support and improvement in their financing,which in turn increases their share of labour income;in terms of labor skill structure,the implemention of key industrial policies will make people suffer.Support industry enterprises to obtain more government subsidies,this reduces the cost of the business,which in return influences the production activities of the business and therefore ultimately changes the labour demand of the enterprises.By using the 2010-2020 Cathay Pacific Security Database(CSMAR)panel data matched with key industry policies at the double-digit industry level,this paper systematically examines the impact and mechanism of key industry policies on the labor income share of companies from the enterprise level.The empirical results show that key industrial policies have a directly beneficial effect on a company&apos’ s share of employment earnings.The specific way is to affect the labor income share of enterprises by alleviating financing constraints.Key industry policies will increase the labor income share of enterprises by easing endogenous financing constraints,but key industry policies will reduce the external financing constraints of enterprises in key industries.The reduction of the income share depends on the relative size of the restraint capacity of endogenous financing and external financing;and by increasing the proportion of workers in enterprises with higher qualifications,the labor income share of the enterprise will be increased,indicating that the key industrial policy will increase the key industries.Among the highly educated workers,the increase in the availability of a highly qualified workforce will drive the labor income share of enterprises.In addition,this paper conducts a heterogeneity test on the impact of key industrial policies on the proportion of labour earnings of firms.The test results show that the key industrial policies mentioned by the central government and the local governments have a greater role in promoting the labor income share of enterprises;the eastern region,state-owned enterprises and other capital-controlled enterprises are better regulated by the key industrial policies,that is,significantly promoting enterprises.Labor&apos’ s share of income increased.Finally,on the basis of the results of the study,this document sets out appropriate responses and proposals to problems that may arise in the design and implementation of key industrial policies.