摘要
降低企业养老保险费率是“减税降费”政策的重要一环。我国于2019年推出了《降低社会保险费率综合方案》的政策,故使用2014—2022年A股上市公司数据,通过双重差分模型检验该政策的实施对企业雇佣规模所产生的影响。研究发现,此次降费政策总体上对企业的雇佣规模存在显著的正向影响,使企业的雇佣规模增加2.6%,该结果在经过一系列稳健性检验过后依然成立。此外,本次降费的政策效果呈现出显著的企业异质性,更有利于制造业企业以及非国有企业雇佣规模的扩大。有关影响机制的分析显示,养老保险降费政策主要通过现金流效应以及要素替代效应影响企业的雇佣规模。
Reducing the enterprise pension insurance premium rate is an important part of the“tax reduction”policy.China launched the policy of“Comprehensive Program for Reducing Social Insurance Premium Rates”in 2019,and this paper examines the impact of the implementation of this policy on the employment scale of enterprises through the double-difference model based on the data of A-share listed companies in 2014-2022.It is found that the fee reduction policy has a significant positive impact on the employment scale of enterprises in general,which increases the employment scale of enterprises by 2.6%,and this result still holds after the robustness test and endogeneity discussion.In addition,the policy effect of this fee reduction shows significant firm heterogeneity,which is more conducive to the expansion of the employment scale of manufacturing firms as well as non-state-owned firms.The analysis of the impact mechanism shows that the pension insurance premium reduction policy affects the employment scale of enterprises through the cash flow effect and the factor substitution effect.
作者
谢勇
项军烽
XIE Yong;XIANG Junfeng(College of Public Administration,Nanjing Agricultural University,Nanjing 210095,China)
出处
《审计与经济研究》
CSSCI
北大核心
2024年第5期90-100,共11页
Journal of Audit & Economics
基金
江苏省社会科学基金项目(22GLB004)
国家社会科学基金重大项目(23&ZD043)。
关键词
养老保险费率
降费政策
雇佣规模
影响机制
public pension contribution rate
fee reduction policy
employment scale
influence mechanism
