【摘要】 党的二十大报告指出“努力提高居民收入在国民收入分配中的比重，提高劳动报酬在初次分配中的比重。”在中国企业“走出去”、不断增加对外直接投资的背景下，企业内劳动收入份额是提高还是降低，将直接影响居民收入在初次分配中的比重。本文基于2009-2020年中国A股上市公司数据，使用双重差分方法实证检验企业对外直接投资行为对企业内劳动收入份额的影响。研究发现：企业对外直接投资显著促进企业内劳动收入份额增加，促进企业内劳动收入份额提高约9.24%,进行多种稳健性检验结果依然成立。机制检验表明，企业对外直接投资的就业效应大于逆向技术溢出带来的替代效应。同时，在发达国家跨国企业中盛行的明星企业效应，在中国企业中没有明显效果。扩展分析发现，企业对外直接投资在扩大劳动收入份额的同时，不会加剧企业内部的收入不平等问题。更多还原

【Abstract】 General Secretary Xi Jinping pointed out that “We will work to raise the share of personal income in the distribution of national income and give more weight to work remuneration in primary distribution.” In the context of Chinese enterprises going global and increasing foreign direct investment, whether labor income in enterprises increases or decreases will directly affect the share of residents’ income in the primary distribution. Based on the data of Chinese A-share listed companies from 2009 to 2020, this paper empirically examines the impact of enterprises’ OFDI behavior on the share of labor income in enterprises using the difference-in-differences method. It is found that OFDI significantly contributes to the increase in the share of intra-firm labor income, raising the share of intra-firm labor income by about 9.24%, and the results still hold when multiple robustness checks are conducted. The mechanism test indicates that the employment effect of corporate OFDI is larger than the substitution effect from reverse technology spillover effect. At the same time, the Superstar Firms effect, which is prevalent among multinational firms in developed countries, has no significant effect on Chinese firms. The extended analysis finds that FDI from firms does not exacerbate intra-firm income inequality while expanding the labor income share.更多还原