Although much work has been done in labor costs rising effects, the labor costs were treated as the exogenous variable and the internal heterogeneity was neglected. For different reasons, the cost are broken up into efficiency wage costs and non-wage labor costs in this paper.Next, the paper builds a economic model based on the Efficiency Wage Theory, and proposes the hypotheses that the impact of two types of labor costs on enterprise labor productivity, factor substitution rate and financial performance is different.The empirical research based on the data from Chinese A-share companies show the heterogeneity of two types of labor costs.All efficiency wage cost and non-wage cost improve the labor productivity, but the positive impact of efficiency wage cost is higher than that of the non-wage cost.The non-wage labor cost can lead to the substitution of capital for labor more than the efficiency wage cost.Efficiency wage has a significant positive impact on corporate performance, but non-wage cost has a negative impact on corporate performance.It change the traditional way of regarding labor costs as a "black box". Meanwhile, The conclusions of the study have specific implications for how people view the current rising labor costs.Increasing efficiency wages in enterprises can achieve win-win situation between enterprises and employees. Although the rising cost of non-wage labor cost will force enterprises to upgrade the technology, it will negatively affect to the enterprise performance.
吴永求,毛琴,蒲艳萍.劳动力成本异质性、要素替代及企业绩效[J].重庆大学学报社会科学版,2019,25(6):24-35. DOI:10.11835/j. issn.1008-5831. jg.2019.04.003复制