国有企业改革与人力资本结构优化

财经论丛 ›› 2025, Vol. 41 ›› Issue (1): 106-117.

国有企业改革与人力资本结构优化

程博¹, 许宇鹏², 柳竹韵³

1.南京审计大学会计学院, 江苏南京 211815;
2.浙江农林大学经济管理学院, 浙江杭州 311300;
3.浙江正方资产管理有限公司投资部, 浙江杭州 310051

收稿日期:2024-05-02 出版日期:2025-01-10 发布日期:2025-01-13
通讯作者: 许宇鹏(1986—),男,浙江诸暨人,浙江农林大学经济管理学院副教授。
作者简介:程博(1975—),男,陕西平利人,南京审计大学会计学院教授;柳竹韵(1991—),女,浙江景宁人,浙江正方资产管理有限公司投资部经理。
基金资助:
国家社会科学基金一般项目(21BGL008);国家自然科学基金青年基金项目(72102137);江苏高校优势学科建设工程资助项目(PAPD)

Reform of State-owned Enterprises and Optimization of Human Capital Structure

CHENG Bo¹, XU Yupeng², LIU Zhuyun³

1. School of Accounting, Nanjing Audit University, Nanjing 211815, China;
2. College of Economics and Management, Zhejiang A&F University, Hangzhou 311300, China;
3. Investment Department, Zhejiang Zhengfang Asset Management Co.,LTD, Hangzhou 310051, China

Received:2024-05-02 Online:2025-01-10 Published:2025-01-13

摘要/Abstract

摘要： 人力资本是第一生产要素,做强做优做大国有企业很大程度上受制于人力资本这一约束条件。本文将2016年《中央企业深化改革瘦身健体工作方案》作为外生政策冲击,构建双重差分模型,系统检验了瘦身健体改革对企业人力资本结构的影响及作用机制。结果发现,相比政策推出之前,瘦身健体改革方案实施显著优化了国有企业的人力资本结构,高技能劳动力占比增加4.35%。机制检验结果显示,瘦身健体改革主要通过提高企业技术创新水平和提升企业ESG表现两条路径优化国有企业人力资本结构。异质性检验结果显示,在资产专用性较低、数字化进程较快、产品市场竞争较强以及资本市场关注度较高的国有企业中瘦身健体改革显著优化企业人力资本结构的现象更为明显。本研究不仅丰富和拓展了国有企业改革经济后果与劳动经济学方面的研究文献,而且对全面认识国有企业以何种路径提升新质生产力和核心竞争力以及后续改革向何处着力的相关政策制定具有重要的理论和现实意义。

关键词: 人力资本结构, 国有企业改革, 高技能人才, 新质生产力

Abstract: Human capital is the first productive force factor, and the state-owned enterprises to be stronger, better and bigger are largely subject to the constraints of human capital. By virtue of the exogenous event of quasi-natural experiment, the "Plans for Deepening Reform of Central Government Enterprises to Slim down and Keep Fit", which was reviewed and approved by The State Council in 2016, this paper constructs a difference-in-differences model to systematically test the effect of state-owned enterprise reform on the human capital structure of enterprises and its mechanism. The results show that, compared with the policy before it was introduced, the reform of “slimness” and “fitness” has significantly promoted the human capital structure in state-owned enterprises, which shows that the proportion of highly skilled labor has increased by about 4.35%. The mechanism test results show that the deepening reform of state-owned enterprises mainly drives the human capital structure of state-owned enterprises through two paths: enhancing the level of technological innovation of enterprises and improving the realization of enterprise ESG. The heterogeneity test results show that the phenomenon of human capital structure significantly promoted by the reform of “slimness” and “fitness” is more obvious in the state-owned enterprises with low asset specificity, fast digitization process, strong product market competition and high attention from the capital market. This study has not only enriched and expanded the research literature on the economic consequences of state-owned enterprise reform and labor economics, but also has the important theoretical and practical significance for a comprehensive understanding of the path to enhance new quality productive forces, promote high-quality development of state-owned enterprises, improve the core competitiveness of state-owned enterprises, and where to focus on the follow-up reform policy formulation.

Key words: Human Capital Structure, State-owned Enterprise Reform, High-skilled Talent, New Quality Productivity

程博, 许宇鹏, 柳竹韵. 国有企业改革与人力资本结构优化[J]. 财经论丛, 2025, 41(1): 106-117.

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