Within-Firm Wage Inequality and Corporate Innovation: Evidence from China's Listed Firms

被引：8
|
作者：
Miao, Miao [1 ]
Zhang, Yan [2 ]
Zheng, Shilin [3 ]
机构：
[1] South China Univ Technol, Sch Econ & Commerce, Guangzhou, Peoples R China
[2] Chongqing Technol & Business Univ, Sch Econ, Chongqing 400067, Peoples R China
[3] Peking Univ, Natl Sch Dev, Beijing, Peoples R China
来源：
EMERGING MARKETS FINANCE AND TRADE | 2020年 / 56卷 / 04期
基金：
中国国家自然科学基金;
关键词：
Within-firm wage inequality; innovation; listed firms; INCOME INEQUALITY; EXECUTIVE-COMPENSATION; MANAGERIAL INCENTIVES; FINANCIAL PERFORMANCE; CEO CHARACTERISTICS; STOCK MARKETS; PAY GAP; IMPACT; COMPETITION; INVESTMENT;
D O I：
10.1080/1540496X.2019.1709818
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Within-firm wage inequality, which individuals face daily, has largely been neglected by the literature on wage inequality. However, it may affect an individual's incentive to work, resulting in an overall impact on a firm's operation. This study discusses the effects of within-firm wage inequality on corporate innovation. Using data from Chinese firms listed over the period 2000-2015, we found that (1) within-firm wage inequality promotes innovation, (2) the use of two instrumental variables for our analysis confirms that the chain of causality goes from inequality to innovation, and (3) possible mechanisms are incentivizing managers to increase R&D inputs and using bank loans to finance innovation.
引用
收藏
页码：796 / 819
页数：24
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