Empirical Test on the Impact of Supply Chain Concentration on Enterprise Labor Income Share

Abstract

Supply chain concentration enhances labor efficiency and enterprise capital adequacy through industrial chain integration, promoting the internal income distribution of enterprises to incline towards labor factors, and is an important fulcrum for optimizing the national income distribution pattern. Based on the relevant data of Chinese A-share listed companies from 2012 to 2023, this paper systematically investigates the impact effect and action mechanism of enterprise supply chain concentration on labor income share. The study finds that enterprise supply chain concentration can effectively increase the labor income share. The mechanism test found that supply chain concentration increases the labor income share of enterprises by alleviating financing constraints and reducing agency conflicts. Heterogeneity analysis shows that for larger enterprises and those with higher myopia tendencies in management, the role of supply chain concentration in increasing their labor income share is more obvious. This paper not only expands the research vision on the influencing factors of labor income share, but also provides important experience and policy reference for effectively improving supply chain resilience and promoting fair returns on labor factor income.