Affiliation:
1. School of Accountancy Capital University of Economics & Business Beijing China
2. School of Accounting, Economics and Finance University of Wollongong Wollongong New South Wales Australia
3. National Science and Technology Venture Capital Development Center Beijing China
Abstract
AbstractThis paper utilises the perspective of listed companies to explore the influence of decision‐making power allocation on labour income share and analyses the possible mechanisms. Utilising 16,650 firm‐year observations from both the Shenzhen and Shanghai stock exchanges between 2008 and 2021, the results show that decentralised decision‐making power can significantly improve the labour income share of enterprises. This result is more obvious in enterprises with non‐state‐owned property rights and low total factor productivity. Furthermore, decentralising enterprise decision‐making power reduces rent dissipation within the company, improves enterprise investment enthusiasm, increases investment in research and development, and promotes upgrading the labour force.
Subject
Economics, Econometrics and Finance (miscellaneous),Finance,Accounting
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