数字经济赋能企业数字化转型：能否提升劳动收入份额以助力共同富裕？

Digital Economy Empowers Enterprise Digital Transformation: Can It Increase the Labor Income Share to Facilitate Common Prosperity?

摘要: 数字经济浪潮席卷之下，新兴数字技术与传统领域的融合深度不断加深，为企业突破转型瓶颈、实现创新发展注入了强劲动能；而推动企业数字化转型与提高劳动报酬分配占比，更是现阶段助力新发展格局构建、夯实共同富裕基础的核心着力点。基于此，本文系统探究企业数字化转型对劳动收入份额的影响机制与实际效应。在理论层面，深入剖析了数字化转型作用于劳动收入份额的内在逻辑与理论路径。在实证层面，研究以2008~2022年中国A股上市公司为研究样本，实证检验企业数字化转型对劳动收入份额的影响，并通过稳健性检验和工具变量法处理潜在的内生性问题，以确保研究结论的可靠性。此外，通过企业金融化的中介效应探究企业数字化转型对劳动收入份额的内在影响机制。最后从学历、地区、行业密集度三个维度展开异质性分析。研究结果表明，企业数字化转型对劳动收入份额具有显著的正向促进作用。机制检验结果显示，企业金融化在企业数字化转型与劳动收入份额之间发挥部分中介作用，即数字化转型可通过提高金融化水平，间接推动劳动收入份额提升。异质性分析显示，数字化转型的收入分配效应存在明显差异。

Abstract: Under the sweeping tide of the digital economy, the integration of emerging digital technologies with traditional sectors continues to deepen, injecting strong impetus into enterprises’ efforts to break through transformation bottlenecks and achieve innovative development. Moreover, promoting enterprises’ digital transformation and increasing the proportion of labor remuneration in distribution are even more core focus areas at the current stage for facilitating the construction of a new development pattern and consolidating the foundation for common prosperity. Based on this, this paper systematically explores the impact mechanism and practical effects of enterprises’ digital transformation on labor income share. At the theoretical level, it conducts an in-depth analysis of the internal logic and theoretical pathways through which digital transformation acts on labor income share. At the empirical level, the study takes Chinese A-share listed companies from 2008 to 2022 as the research sample to empirically test the impact of enterprises’ digital transformation on labor income share. To ensure the reliability of the research conclusions, robustness tests and the instrumental variable method are employed to address potential endogeneity issues. Additionally, the mediating effect of enterprise financialization is examined to explore the internal impact mechanism of enterprises’ digital transformation on labor income share. Finally, a heterogeneity analysis is carried out from three dimensions: educational background, region, and industry intensity. The research results show that enterprises’ digital transformation has a significant positive promoting effect on labor income share. The results of the mechanism test indicate that enterprise financialization plays a partial mediating role between enterprises’ digital transformation and labor income share, meaning that digital transformation can indirectly drive the increase of labor income share by improving the level of financialization. The heterogeneity analysis reveals that there are obvious differences in the income distribution effect of digital transformation.