劳动力保护与企业风险——来自2008年新《劳动合同法》的证据

本文利用2003—2015年我国A股上市公司数据,借助2008年新《劳动合同法》的实施对劳动密集度不同的行业影响不同,识别了劳动力保护对以股价波动性衡量的企业风险的因果影响。结果显示,受新《劳动合同法》实施影响越大的企业,其股价波动性越小,即劳动力保护降低了企业风险。这一结论在经过平行趋势检验、排除同期其它政策的影响、使用不同方法计算企业风险和劳动密集度、使用平衡面板等一系列稳健性检验后,仍然成立。机制分析表明,新《劳动合同法》的实施会增加企业的杠杆率和违约概率,企业出于“风险规避”的动机会增加现金持有,以抓住未来的优良投资机会。由于国有企业对劳动力保护制度的执行度更强,杠杆率高和流动比率低的企业有更强的“风险规避”动机,因此新《劳动合同法》实施后,国有企业风险出现更大幅度的下降。本文的结论表明,在防范控制企业风险过程中,劳动力保护措施是可选的有效政策工具。     

劳动保护、社保压力与企业违约风险——基于《社会保险法》实施的研究

本文利用2011年《社会保险法》实施的政策冲击所造成的准自然实验情境构建双重差分模型,考察了劳动保护对上市公司债务违约风险的影响。研究发现,劳动保护加强后,劳动密集型企业的违约风险显著提升了约1.5%。在此基础上,进一步检验了劳动保护影响企业违约风险的渠道,发现劳动保护提高了企业的经营性负债水平,并最终提高了违约风险。此外,在国有企业、融资约束水平较高、信息披露水平较低和创新水平较低的企业,劳动保护对企业违约风险的影响更加显著。本文拓展了劳动保护经济后果的研究,也为评价《社会保险法》的政策后果提供了新的经验证据。本研究可为"新冠"疫情期间政府制定政策减免企业社保支出提供参考。     

浅谈《劳动合同法》对河北省银行业金融机构的影响

2007年6月29日《劳动合同法草案》颁布后,备受广大劳动者和媒体的关注,劳动纠纷屡屡见诸报端,成为近期的热点话题。2008年1月1日《劳动合同法》正式实施,将会对河北省银行业金融机构劳动用工制度带来一些积极影响和负面影响。本文介绍了《劳动合同法》颁布后,我省银行业金融机构劳动用工基本状况,反映了《劳动合同法》颁布后所反映出来的问题及对我省银行业金融机构的影响,并提出相关意见和建议。     

超额雇员、媒体曝光率与公司价值——基于《劳动合同法》视角的研究

以往的一些研究发现超额雇员会导致公司价值降低等一系列的负面经济后果,但并未系统研究超额雇员导致负面经济后果的机制。借助2008年版《劳动合同法》颁布实施这个外生事件,本文研究发现,超额雇员显著降低了公司价值,伴随着该法案的颁布实施,超额雇员与公司价值的负相关关系有所强化。这应当与《劳动合同法》导致企业用工成本提高有关,这说明超额雇员导致公司价值降低的主要机制是超额雇员导致企业劳动力成本提高,而不是超额雇员导致企业生产效率的降低。进一步的研究发现,媒体曝光率显著降低了超额雇员这种负面因素对公司价值的不利影响,这从另一个角度扩展了媒体的信息中介理论。     

从平等角度看我国劳动合同单方解除制度

2008年1月1日正式施行的新《中华人民共和国劳动合同法》(简称《劳动合同法》)针对单方解除制度做出了新的规定.本文将对劳动合同检查制度的基本理论首先进行阐述,着重从平等角度分析劳动合同单方解除制度与劳资利益平衡的法理意义,并针对《劳动合同法》中有关单方解除制度规定存在的问题提出笔者个人的完善建议.     

关于企业管理中劳动合同法的应用探索

劳动合同法是劳动法的重要组成部分,在我国现代市场建设当中也是不可缺少的,《劳动合同法》是在2008年1月1日开始实施的,劳动合同法的实质是为了完善劳动合同制度,明确劳动合同双方当事人的权利和义务,保护劳动者的合法权益。在企业管理当中,劳动合同法显得尤为重要,企业管理人员必须正确应用劳动合同法,才能为企业构建和谐稳定的劳动关系以确保企业稳步向前发展。劳动合同法在企业管理当中的应用主要包括劳动合同签订、劳动期限、违约金和劳动合同解除和终止等,本文从这四个方面探讨劳动合同法在企业管理当中的应用。     

《劳动合同法》实施的经济效应分析

2008年1月1日《劳动合同法》实施以来,我国中小企业尤其是珠三角地区劳动密集型加工企业连续倒闭、撤资,作为最需保护的劳动者农民工不仅没能享受到法定的权利,反而大批失业或薪酬降低。本文运用局部均衡模型,以中小企业收益和社会福利为研究对象,分析《劳动合同法》实施的经济效应,说明了《劳动合同法》的实施使得企业用工成本上升;社保体系的不完善和农民工的频繁流动进一步导致社会福利与劳动者福利的损失。     

《劳动合同法》实施的经济效应分析

2008年1月1日《劳动合同法》实施以来,我国中小企业尤其是珠三角地区劳动密集型加工企业连续倒闭、撤资,作为最需保护的劳动者农民工不仅没能享受到法定的权利,反而大批失业或薪酬降低。本文运用局部均衡模型,以中小企业收益和社会福利为研究对象,分析《劳动合同法》实施的经济效应,说明了《劳动合同法》的实施使得企业用工成本上升;社保体系的不完善和农民工的频繁流动进一步导致社会福利与劳动者福利的损失。     

试析《劳动合同法》对企业劳动用工的影响及对策

《中华人民共和国劳动合同法》自2008年1月1日起施行以来已经两年有余。作为规范劳动关系的一部重要法律,对企业劳动用工管理产生了重大、深远的影响,为构建与发展和谐稳定的劳动关系、保护劳动者的合法权益提供了切实的法律保障。     

劳务派遣“同工同酬”问题探讨

2008年《劳动合同法》实施以来,劳务派遣同工不同酬和劳务派遣滥用等,所带来的问题比较突出。2012年12月28日,全国人大常委会对《劳动合同法》作了修订,新修订的《劳动合同法》（以下简称新法）已于2013年7月1日起正式实施。新法最大的亮点,就是明确规定了劳务派遣员工享有与正式员工同工同酬的权利。对此,很多人满怀希望,很多人认为新法有利于规范劳务派遗乱象。但要实现同工同酬,仍然任重道远。     

国际劳动立法与我国劳动法制的完善

国际劳工组织是联合国负责国际劳动立法的专门机构,它以公约和建议书的形式制定国际劳工标准.国际劳动立法的宗旨、内容、模式和方法等对我国<劳动合同法>的制定有很大的示范作用,在我国目前已经基本具备了与国际劳工标准全面接轨的条件下,应以国际劳工标准为基准完善国内劳动立法.     

Matching Capital and Labor

We establish an important role for the firm by studying capital reallocation decisions of mutual fund firms. The firm's decision to reallocate capital among its mutual fund managers adds at least $474,000 a month, which amounts to over 30% of the total value added of the industry. We provide evidence that this additional value added results from the firm's private information about the skill of its managers. The firm captures this value because investors reward the firm following a capital reallocation decision by allocating additional capital to the firm's funds.     

劳动关系学科方向发展定位与专业设计

从社会需求导向来看,构建和谐的劳动关系已成为全社会的基本共识;从学科背景、知识结构及专业设置等方面来看,劳动关系与社会保障互相扶持,缺一不可。因此,在"复合型"立体式公共管理类人才培养模式下,劳动与社会保障专业应该设置社会保障、劳动关系两个方向,然后从教学模式、教学内容、教学方法和实践教学体系四个方面进行整体设计,从而形成该专业人才培养独特的品牌和价值观,破解该专业缺乏"异质性"的发展困境。在未来条件许可的情况下,可以将劳动关系设为独立专业,实现该专业和学科的发展壮大。     

Labor unions and tax aggressiveness

We examine the impact of unionization on firms' tax aggressiveness. We find a negative association between firms' tax aggressiveness and union power and a decrease in tax aggressiveness after labor union election wins. This relation is consistent with labor unions influencing managers' in one, or both, of two ways: (1) constraining managers' ability to invest in tax aggressiveness through increased monitoring; or (2) decreasing returns to tax aggressiveness that arise from unions' rent seeking behavior. We also find preliminary evidence that the market expects these reductions around union elections and discounts firms that likely add shareholder value via aggressive tax strategies.     

Declining Labor and Capital Shares

This paper presents direct measures of capital costs, equal to the product of the required rate of return on capital and the value of the capital stock. The capital share, equal to the ratio of capital costs and gross value added, does not offset the decline in the labor share. Instead, a large increase in the share of pure profits offsets declines in the shares of both labor and capital. Industry data show that increases in concentration are associated with declines in the labor share.     

Risk Sharing in Labor Markets

Empirical work in labor economics has focused on rent sharingas an explanation for the observed correlation between wagesand profitability. The alternative explanation of risk sharingbetween workers and employers has not been tested. Using a uniquepanel data set for four African countries, we find strong evidenceof risk sharing. Workers in effect offer insurance to employers:when firms are hit by temporary shocks, the effect on profitsis cushioned by risk sharing with workers. Rent sharing is asymptom of an inefficient labor market. Risk sharing, by contrast,can be seen as an efficient response to missing markets. Ourevidence suggests that risk sharing accounts for a substantialpart of the observed effect of shocks on wages.     

Inflation and Unit Labor Cost

We study two decompositions of inflation, π, motivated by the standard New Keynesian pricing equation of Gali, Gertler, and Sbordone. The first uses four components: lagged π, expected future π, real unit labor cost (ψ), and a residual. The second uses two components: fundamental inflation (discounted expected future ψ) and a residual. We find large low‐frequency differences between actual and fundamental inflation. From 1999 to 2011 fundamental inflation fell by more than 15 percentage points, while actual inflation changed little. We discuss this discrepancy in terms of the data (a large drop in labor's share of income) and through the lens of a canonical structural model.     

Labor contracts and monetary policy

Fischer and others have shown that the very existence of long-term contracts can imply a stabilization role for monetary policy in models that incorporate the natural rate hypothesis and rational expectation formation. The present paper examines some of the factors that determine the length of labor contracts and how they are affected by monetary policy. It is argued that a successful stabilization policy might be expected to increase the length of contracts. The net effect of the imposition of such a policy would therefore be to dampen the amplitude of business cycles, but to make them more inertia ridden.     

Labor mobility and antitakeover provisions

How do firms protect their human capital? We test whether firms facing an increased threat of being acquired strengthen their antitakeover provisions (ATPs) in order to bond with their employees. We use the adoption of the Inevitable Disclosure Doctrine (IDD) by US state courts, which exogenously decreases knowledge-worker mobility, thus elevating takeover risk and reducing employee incentives to innovate. Firms respond to the IDD adoption by strengthening ATPs that defend against hostile takeovers, especially when they have greater ex-ante employee mobility and human capital and place greater importance on employee relations. We find no evidence that managers strengthen ATPs for entrenchment or takeover bargaining purposes in this setting. Our findings show that ATPs can be used to credibly commit to employees in order to protect long-term value creation.