Based on the 2020 China Private Enterprise Survey (CPES) data, this article examines the impact of digital transformation on corporate employment policies. The research finds that contrary to societal concerns, companies" labor demand has significantly increased due to the increase in digitalization. After other sensitivity analysis, the above view remains stable. Moreover, the larger the scale of the enterprise, the more optimistic the market expectations, and the better the regional business environment. the stronger the employment promotion effect of the digital transformation of the enterprise. The heterogeneity analysis shows that the employment promotion effect of digital transformation is more pronounced in enterprises with faster rising labor costs, more optimistic macroeconomic expectations, and government employment policy support. Further analysis also finds that the employment promotion effect of digital transformation has obvious "structuralu201D characteristics, that is, digital transformation promotes the recruitment of high-quality talents by enterprises, while the u201Csubstitution effectu201D of low-quality personnel has asymmetric characteristics of u201Cflow and stocku201D Mechanism analysis shows that digital transformation can improve the efficiency of process management in enterprises, exacerbating the problem of u201Cmismatch between labor demand and professional skillsu201D in enterprises, and thus incentivizing enterprises to expand the proportion of recruitment for high-quality talents. The research conclusions of this article have certain reference significance for supporting digital transformation and upgrading human capittal structure of enterprises, and also provide a new perspective for promoting high-quality employment under the new normal in China.
As a significant measure in China's tax reform,the impact of the Value-Added Tax(VAT)credit refund policy on income distribution remains an area ripe for research.This paper takes the 2018 VAT credit refund reform as a quasi-natural experiment and empirically examines the effect of the VAT credit refund policy on labor skill premium and its underlying mechanisms using data from China's A-share listed companies.The study finds that:(1)The VAT credit refund policy significantly widens the wage gap between skilled and unskilled workers within enterprises,thereby enhancing the labor skill premium,a conclusion that holds after a series of robustness tests.(2)Mechanism tests suggest that,under the"capital-skill complementarity"hypothesis,the VAT credit refund policy primarily boosts the labor skill premium through mechanisms that incentivize capital investment and alleviate liquidity constraints.(3)Heterogeneity analysis reveals that the impact of the VAT credit refund policy varies across different firms,with more pronounced effects on the labor skill premium in firms facing high financing constraints,high tax burdens,mature firms,and those in industries with lower technological levels.This paper enriches the research on the economic consequences of the VAT credit refund policy from the perspective of labor skill premium and provides new theoretical and practical references for the government to optimize tax policy design and promote common prosperity.
Green credit is a green financial instrument with the earliest practice,the largest scale,the widest scope and the most mature development in China.However,most of the existing literatures examine the economic consequences of the implementation of green credit policies,and a small number of studies on the influencing factors of green credit examine the factors affecting the supply of green credit from the perspective of commercial banks,while few literatures pay attention to the factors that affect firms' access to green credit funds.This paper uses text analysis to measure the availability of green credit funds in listed companies,and tests whether green interlocking directors with green work experience or education background can help firms to obtain green credit funds.The research conclusions are as follows:(1)Green interlocking directors can significantly promote green credit financing of firms.The more green interlocking directors in the board of directors and the higher the proportion of seats,the stronger the availability of green credit and the larger the scale of green credit financing of firms.(2)Mechanism test shows that improving the level of firm environmental information disclosure and improving firm environmental performance are two mechanisms for green interlocking directors to promote firm green credit financing.(3)Heterogeneity analysis results show that green interlocking directors have a greater role in promoting green credit financing in firms without bank-firm relationship,with high government environmental attention allocation intensity and low level of regional green finance development.From the perspective of green governance function of green interlocking directors,this paper provides a feasible solution to alleviate the green credit financing dilemma of micro-enterprises,thus stimulating the power of green transformation of micro-enterprises and ultimately promoting the green transformation of macro-economic structure.
Based on data from the China Labor Dynamics Survey for 2012, 2014, and 2016, combined with city-level data on the density of robot installations, this paper examines the impact of robot applications on individual labor market entry and exit decisions. The empirical results show that (1) for every 10% rise in robot application, an individual's labor force participation rate significantly increases by 2.31%, and the finding remains robust after a series of tests. (2) Mechanistic analyses show that robot application contribute to increasing employment, facilitating skills upgrading and matching, improving work conditions, optimizing worker status, and thus increasing individual workforce participation. (3) Heterogeneity analysis shows that the impact of robot application varies across different groups, with more significant effects on labor force participation for women, young and middle-aged people, individuals with good health, and individuals with low and high skills. Based on research findings, this paper suggests that China can unleash the potential labor force by promoting the development of robot application to alleviate the labor shortage caused by population aging and childlessness. At the same time, the government also needs to preempt the problem of unequal labor participation that may be triggered by the application of robots and promote the fair and healthy development of the labor market.
Policy learning,as a deep integration of artificial intelligence technologies with causal inference theory,provides a scientific foundation for precision social governance in the era of big data.Grounded in the practical context of China's large-scale governance and complex policy constraints,this paper systematically reviews the international frontier literature on policy learning and proposes a policy learning algorithm based on convexification theory.This approach effectively addresses the computational optimization challenges inherent in complex,high-dimensional policy spaces,thereby significantly improving policy learning efficiency under big data and multiple-constraint settings.The paper further conducts an empirical analysis using China's Minimum Livelihood Guarantee(Dibao)program as a case study,drawing on data from the China Household Finance Survey(CHFS).The results demonstrate that the proposed method can generate highly interpretable and precisely targeted Dibao allocation schemes,effectively expanding social welfare gains and enhancing governance efficiency.This study provides an important reference for leveraging cutting-edge digital and intelligent technologies to advance the modernization of social governance in China.
