市场化改革如何影响企业内部收入差距——来自市场准入负面清单管理模式的证据

摘要/Abstract

摘要： 企业内部收入差距对社会总体收入分配格局有着重要影响。本文借助市场准入负面清单管理模式试点对地区市场化水平的冲击构建双重差分模型，考察了市场化改革对微观企业内部收入不平等的因果效应及其作用机制。研究发现，实施市场准入负面清单管理模式显著提高了企业普通员工平均薪酬，同时抑制企业高管平均薪酬，进而缩小了企业内部收入差距。机制分析显示，市场准入负面清单管理模式带来的市场化水平提升可以通过减少企业寻租、促进市场公平充分竞争以及缓解融资约束这3条渠道缩小企业内部收入差距。进一步的异质性研究证实，市场准入负面清单管理模式对企业内部收入不平等的抑制效应在民营企业、劳动密集型企业以及所处地区制度环境较差的企业中表现得更为明显。基于高管薪酬结构分解视角的研究发现，市场准入负面清单管理模式对企业内部收入差距的缩小作用主要表现为抑制不合理的超额薪酬差距，且市场准入负面清单管理模式的实施强化了合理薪酬差距产生的绩效激励作用。研究结论为政府通过高标准市场体系建设来优化收入分配格局提供了新的启发。

关键词: 市场化, 市场准入负面清单管理模式, 企业内部收入差距, 超额薪酬

Abstract: This paper builds a DID model based on the negative list of market access, and discusses the impact of this market-oriented reform policy on income inequality within firms and the mechanism underlying the impact. The results show that the negative list significantly improves the salary of ordinary employees and inhibits the salary of managers, finally narrowing the income inequality. The mechanism analysis finds that the negative list can reduce the income inequality by reducing rent-seeking, promoting market competition and easing financing constraints. Heterogeneity analysis shows that the effect of negative list on income inequality is more obvious in private firms, labor-intensive firms and firms in poor regional institutional environment. Further research finds that the reduction of income inequality within firms by the negative list is mainly manifested as the suppression of unreasonable excessive salary gaps, and the implementation of the policy has strengthened the performance incentive effect of reasonable salary gaps. This paper provides new inspiration for the government to optimize the income distribution pattern through the construction of a high standard market system.

Key words: marketization, negative kist of market access, income inequality within enterprises, over-compensation

雷卓骏, 黄凌云, 张宽. 市场化改革如何影响企业内部收入差距——来自市场准入负面清单管理模式的证据[J]. 管理评论, 2025, 37(12): 121-133.

Zhuojun, Huang Lingyun, Zhang Kuan. How does Market-oriented Reform Affect the Income Inequality within Enterprises?—Evidence from the Negative List of Market Access[J]. Management Review, 2025, 37(12): 121-133.

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