人力资源、税收、所有制与企业年金参保——基于家庭金融微观数据的实证研究
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摘要
截至2013年底,中国企业年金的参保职工占基本养老保险参保职工的比重仅为8.50%,很难起到真正有效的补充作用。基于中国家庭金融调查(2011年)数据,从人力资源效应、节税效应和所有制效应等企业提供企业年金的激励因素着手,考察中国企业年金参保影响因素。结果显示:(1)人力资源效应得到验证,文化程度、工作年限、职称和职务与职工企业年金参保概率正相关;(2)节税效应没有得到验证,地方政府如果出台过比中央更优惠的企业年金税收政策,该地职工参保概率反而更低;(3)所有制效应得到验证,国有企业的参保概率更高,干部和职工在参保方面更加公平。这表明:激励中国企业建立企业年金的主要市场因素是企业年金的人力资源效应,企业借企业年金吸引、激励、保留员工;主要非市场因素是所有制效应,国有企业借企业年金打破薪酬管制;税收优惠政策的作用有待进一步考察。政府应考虑对企业年金覆盖率、缴费水平等进行更详尽的数量规制,并制定职工导向的税收优惠政策。
Using the China Household Finance and Survey(CHFS,2011) data,this article examines the effects of human resources,tax,and ownership on participation possibilities in enterprise annuities. Multiple logit regressions analysis shows that:(1) Participation possibility is significantly,positively related with education,tenure,technology title and position;(2)Local tax favored treatments,which allow more pre-tax contributions than the central government does,are associated with lower participation possibility;(3) State-owned enterprises,in which there is no significant difference in participation possibilities between managers and employees,are associated with higher participation possibility. These results present that:(1) Employers utilize enterprise annuity to attract,activate and retain employees;(2)State-owned enterprises utilize enterprise annuity to evade compensation regulation;(3)The effects of tax favored treatments are not clear. Thus,detailed regulations for participation & contributions,and employees-oriented tax favored treatments are suggested. The cross sectional data used here limit this study,so longitudinal data analysis is expected. These findings can assist policy makers in compensation regulations for state-owned enterprises and tax favored treatments. This study increases understanding of the determinants of participation in China's enterprise annuities.
Using the China Household Finance and Survey(CHFS,2011) data,this article examines the effects of human resources,tax,and ownership on participation possibilities in enterprise annuities. Multiple logit regressions analysis shows that:(1) Participation possibility is significantly,positively related with education,tenure,technology title and position;(2)Local tax favored treatments,which allow more pre-tax contributions than the central government does,are associated with lower participation possibility;(3) State-owned enterprises,in which there is no significant difference in participation possibilities between managers and employees,are associated with higher participation possibility. These results present that:(1) Employers utilize enterprise annuity to attract,activate and retain employees;(2)State-owned enterprises utilize enterprise annuity to evade compensation regulation;(3)The effects of tax favored treatments are not clear. Thus,detailed regulations for participation & contributions,and employees-oriented tax favored treatments are suggested. The cross sectional data used here limit this study,so longitudinal data analysis is expected. These findings can assist policy makers in compensation regulations for state-owned enterprises and tax favored treatments. This study increases understanding of the determinants of participation in China's enterprise annuities.
引文
[1]人力资源与社会保障部.2013年度人力资源和社会保障事业发展统计公报[EB/OL].[2014-01-16]http://www.mohrss.gov.cn/SYrlzyhshbzb/dongtaixinwen/shizhengyaowen/201305/t20130528_103939.htm.
[2]郑秉文.中国企业年金发展滞后的政策因素分析[J].中国人口科学,2010(2):2-23.
[3]李珍,王海东.养老金替代率水平下降的制度因素分析及对策[J].中国软科学,2013(4):50-59.
[4]郑秉文.中国养老金发展报告2011[M].北京:经济管理出版社,2011:71.
[5]李连友,刘飞.企业制度与企业年金的关系[J].财经理论与实践,2003,24(6):35-39.
[6]孙开,金华.企业年金激励机制探讨[J].东北财经大学学报,2009(5):25-29.
[7]邓大松,刘昌平.中国企业年金基金治理研究[J].公共管理学报,2004,1(3):4-10.
[8]郑秉文.中国企业年金的治理危机及其出路[J].中国人口科学,2006(6):7-20.
[9]杨燕绥,鹿峰,修欣欣.中国养老金市场的公共治理[J].西安交通大学学报,2011,31(3):44-50.
[10]郭磊,苏涛永.企业年金市场进入规制的质量效应和数量效应[J].预测,2012,32(1):44-48.
[11]郭磊.企业年金市场进入规制研究[J].保险研究,2009(10):32-37.
[12]郭磊.基于搜寻理论的企业年金市场进入规制[J].系统工程,2010,28(2):49-54.
[13]郭磊,陈方正.目标偏好与企业年金最优投资决策分析[J].同济大学学报(自然科学版),2007,35(9):1279-1283.
[14]郭磊,陈方正.基于CRRA效用函数的企业年金个体最优投资策略[J].同济大学学报(自然科学版),2008,36(3):424
[15]朱茂然,郭磊,苏涛永.基于指数效用函数的企业年金最优策略[J].同济大学学报(自然科学版),2010,38(7):1099-1102.
[16]郭磊.寿命不确定与企业年金退休后投资决策[J].同济大学学报(自然科学版),2009,37(12):1712-1714.
[17]GENTRY W M,ROTHSCHILD C G.Enhancing Retirement Recurity through the Tax Code:The Efficacy of Tax-Based Subsidies in Life Annuity Markets[J].Journal of Pension Economics and Finance,2010,9(2):185-218.
[18]FEHR H,JESS H.Who Benefits from the Reform of Pension Taxation in Germany?[J].Fiscal Studies,2007,28(1):73-101.
[19]FEHR H,HABERMANN C.Private Retirement Savings and Mandatory Annuitization[J].International Tax and Public Finance,2010,17(6):640-661.
[20]CREEDY J,ROSS G.Changes in the Taxation of Private Pensions:Macroeconomic and Welfare Effects[J].Journal of Policy Modeling,2008,30(5):693-712.
[21]DISNEY R,EMMERSON C,WAKEFIELD M.Tax Reform and Retirement Saving Incentives:Take-up of Stakeholder Pensions in the UK[J].Economica,2010,77(4):213-233.
[22]HERNANES E,PIGGOTT J,ZHANG T,et al.Occupational Pensions,Tenure and Taxes[J].Journal of Pension Economics and Finance,2011,10(3):435-456.
[23]HORIBA Y,YOSHIDA K.Determinants of Japanese Corporate Pension Coverage[J].Journal of Economics and Business,2002,54(5):537-555.
[24]YOSHIDA K,HORIBA Y.Determinants of Defined-Contribution Japanese Corporate Pension Coverage[J].The Japanese Accounting Review,2012,2(1):33-47.
[25]DUMMANN K.What Determines Supply and Demand for Occupational Pensions in Germany?[J].Journal of Pension Economics and Finance,2008,7(1):131-156.
[26]BROWN J R,CLARK R,RAUH J.The Economics of State and Local Pensions[J].Journal of Pension Economics and Finance,2011,10(2):161-172.
[27]HUBERMAN G,IYENGAR S S,WANG J.Defined Contribution Pensions Plan:Determinants of Participation and Contribution Rates[J].Journal of Financial Services Research,2007,31(1):1-32.
[28]LUSARDI A,MITCHELL O S.Financial Literacy and Retirement Planning in the United States[J].Journal of Pension Economics and Finance,2011,10(04):509-525.
[29]BANKS J,SMITH S.Retirement in UK[J].Oxford Review of Economic Policy,2006,22(1):40-56.
[30]MCCARTHY D.The Rationales for Occupational Pensions[J].Oxford Review of Economic Policy,2006,22(1):57-65.
[31]郭磊,苏涛永.基于信号博弈的最优企业年金支出决策[J].系统工程理论与实践,2011,31(7):1272-1277.
[32]IPPOLITO A R.Pension and Indenture Premia[J].Journal of Human Resources,1994,29(3):795-812.
[33]LAZER E P.Pensions and Deferred Benefits as Strategic Compensation[J].Industrial Relations,1990,29(2):263-280.
[34]ALLEN S G,CLARK R L,MCDERMED A A.Pensions,Bonding,and Lifetime Jobs[J].Journal of Human Resources,1993,28(3):463-481.
[35]MEALLI F,PUDNEY S.Occupational Pensions and Job Mobility in Britain:Estimation of a Random-Effects Competing Risks Model[J].Journal of Applied Econometrics,1996,11(3):293-320.
[36]EVEN W E,Macpherson D A.Employer Size and Labor Turnover:The Role of Pensions[J].Industrial and Labor Relations Review,1996,49(4):707-728.
[37]殷俊,黄蓉.企业年金计划与企业员工流动性分析[J].经济评论,2009(1):133-139.
[38]GUSTMAN A L,MITCHELL O S,S TEINMEIER T L.The Role of Pensions in the Labor Market:A Survey of the Literature[J].Industrial and Labor Relations Review,1994,47(3):417-438.
[39]FRIEDBERG L,WEBB A.Retirement and the Evolution of Pension Structure[J].Journal of Human Resources,2005,40(2):281-308.
[40]LAIBSON D I,REPETTO A,TOBACMAN J.Self-Control and Saving for Retirement[J].Brookings Paper on Economic Activity,1998,(1):91-196.
[41]HUBBARD R G,SKINNER J,ZELDES S P.Precautionary Saving and Social Insurance[J].Journal of Political Economy,1995,103(2):360-399.
[42]郭磊,苏涛永.中国企业年金企业所得税优惠政策的决定因素——基于省际数据的实证研究[J].科学决策,2012,(11):43~61.
[43]陆正飞,王雄元,张鹏.国有企业支付了更高的职工工资吗[J].经济研究,2012(3):28-39.
[44]李晓东.职工福利、剩余索取权分享与国有企业的社会成本问题[J].会计研究,2010(10):76-83.
[45]林毅夫,刘明兴,章奇.政策性负担与企业的预算软约束:来自中国的实证研究[J].管理世界,2004(8):81-91.
[46]叶林祥,李实,罗楚亮.行业垄断、所有制与企业工资收入差距——基于第一次全国经济普查企业数据的实证研究[J].管理世界,2011(4):26-37.
[47]陈冬华,陈信元,万华林.国有企业中的薪酬管制与在职消费[J].经济研究,2005(2):92-101.
[48]WREN D A.The History of Management Thought[M].New York:John Wiley&Sons Inc,2005:236.
[49]李耀华.近代中国企业年金的创新、选择和扩散[J].上海财经大学学报,2011,13(3):11-18.
[50]郭磊,苏涛永.企业年金缩小企业与机关事业单位职工养老金差距的政策仿真研究——工资异质性的视角[J].社会保障研究,2013(2):48-61.
[51]郭磊,苏涛永.企业年金对养老金差距的双重影响研究[J].公共管理学报,2014,11(1):75-89.
①企业年金在中国的发展最早可以追溯到1991年,国务院颁布《关于企业职工养老保险制度改革的决定》(国发[1991]33号),首次提出了“企业补充养老保险”的概念;1995年,国务院颁布《关于深化企业职工养老保险制度改革的通知》(国发[1995]6号),规定企业可根据本单位经济效益情况,为职工建立补充养老保险;1995年,劳动部印发《关于建立企业补充养老保险制度的意见》(劳部发[1995]464),规定了企业补充养老保险的细则;1997年,《国务院关于建立统一的企业职工基本养老保险制度的决定》(国发[1997]26号),首次提出要大力发展企业补充养老保险,产生了较大推动作用。
②作者根据《2013年度人力资源和社会保障事业发展统计公报》计算得出。
①2008年,上海市总工会调查发现,在建立了年金的企业中,经营者与普通职工的年金差距达到3~5倍;一些企业的年金方案只覆盖小部分管理人员;少数企业存在大量待岗未安置人员,不具备建立年金的经济能力,却仍将年金作为高管人员的福利(http://www.sxgh.org.cn/particular.aspx?id=1953&parent ID=33)。
①本文涉及两个连续变量,工作年限(GZNX)和年龄(NIAN),基本统计量都在前文中给出。
①参保率分别为34.41%、26.02%,chi2(1)=2.5189。
②参保率分别为11.0%、2.89%,chi2(1)=21.3546。
③3个变量的系数(标准误)分别为1.426(0.331)、2.471(0.277)、-1.026(0.416)。
④在4个回归模型中,交互项的系数(标准误)分别为-0.862(0.456)、-0.875(0.451)、-1.018(0.441)、-1.023(0.433)。
⑤2012年4月,国资委副主任邵宁在博鳌论坛上称“……国有企业大锅饭、铁交椅,这些问题并没有真正的去掉。……”(http://finance.ifeng.com/news/special/2012boao/20120402/5856132.shtml)。
①根据人力资源和社会保障部《2013年度全国企业年金基金业务数据摘要》、国家工商总局《市场主体发展分析2013》计算得出。
②考虑到我国基本养老保险的名义企业缴费率已经高达20%,企业对企业年金不积极也可以理解。
③政策不允许只有企业缴费而没有职工缴费。
[2]郑秉文.中国企业年金发展滞后的政策因素分析[J].中国人口科学,2010(2):2-23.
[3]李珍,王海东.养老金替代率水平下降的制度因素分析及对策[J].中国软科学,2013(4):50-59.
[4]郑秉文.中国养老金发展报告2011[M].北京:经济管理出版社,2011:71.
[5]李连友,刘飞.企业制度与企业年金的关系[J].财经理论与实践,2003,24(6):35-39.
[6]孙开,金华.企业年金激励机制探讨[J].东北财经大学学报,2009(5):25-29.
[7]邓大松,刘昌平.中国企业年金基金治理研究[J].公共管理学报,2004,1(3):4-10.
[8]郑秉文.中国企业年金的治理危机及其出路[J].中国人口科学,2006(6):7-20.
[9]杨燕绥,鹿峰,修欣欣.中国养老金市场的公共治理[J].西安交通大学学报,2011,31(3):44-50.
[10]郭磊,苏涛永.企业年金市场进入规制的质量效应和数量效应[J].预测,2012,32(1):44-48.
[11]郭磊.企业年金市场进入规制研究[J].保险研究,2009(10):32-37.
[12]郭磊.基于搜寻理论的企业年金市场进入规制[J].系统工程,2010,28(2):49-54.
[13]郭磊,陈方正.目标偏好与企业年金最优投资决策分析[J].同济大学学报(自然科学版),2007,35(9):1279-1283.
[14]郭磊,陈方正.基于CRRA效用函数的企业年金个体最优投资策略[J].同济大学学报(自然科学版),2008,36(3):424
[15]朱茂然,郭磊,苏涛永.基于指数效用函数的企业年金最优策略[J].同济大学学报(自然科学版),2010,38(7):1099-1102.
[16]郭磊.寿命不确定与企业年金退休后投资决策[J].同济大学学报(自然科学版),2009,37(12):1712-1714.
[17]GENTRY W M,ROTHSCHILD C G.Enhancing Retirement Recurity through the Tax Code:The Efficacy of Tax-Based Subsidies in Life Annuity Markets[J].Journal of Pension Economics and Finance,2010,9(2):185-218.
[18]FEHR H,JESS H.Who Benefits from the Reform of Pension Taxation in Germany?[J].Fiscal Studies,2007,28(1):73-101.
[19]FEHR H,HABERMANN C.Private Retirement Savings and Mandatory Annuitization[J].International Tax and Public Finance,2010,17(6):640-661.
[20]CREEDY J,ROSS G.Changes in the Taxation of Private Pensions:Macroeconomic and Welfare Effects[J].Journal of Policy Modeling,2008,30(5):693-712.
[21]DISNEY R,EMMERSON C,WAKEFIELD M.Tax Reform and Retirement Saving Incentives:Take-up of Stakeholder Pensions in the UK[J].Economica,2010,77(4):213-233.
[22]HERNANES E,PIGGOTT J,ZHANG T,et al.Occupational Pensions,Tenure and Taxes[J].Journal of Pension Economics and Finance,2011,10(3):435-456.
[23]HORIBA Y,YOSHIDA K.Determinants of Japanese Corporate Pension Coverage[J].Journal of Economics and Business,2002,54(5):537-555.
[24]YOSHIDA K,HORIBA Y.Determinants of Defined-Contribution Japanese Corporate Pension Coverage[J].The Japanese Accounting Review,2012,2(1):33-47.
[25]DUMMANN K.What Determines Supply and Demand for Occupational Pensions in Germany?[J].Journal of Pension Economics and Finance,2008,7(1):131-156.
[26]BROWN J R,CLARK R,RAUH J.The Economics of State and Local Pensions[J].Journal of Pension Economics and Finance,2011,10(2):161-172.
[27]HUBERMAN G,IYENGAR S S,WANG J.Defined Contribution Pensions Plan:Determinants of Participation and Contribution Rates[J].Journal of Financial Services Research,2007,31(1):1-32.
[28]LUSARDI A,MITCHELL O S.Financial Literacy and Retirement Planning in the United States[J].Journal of Pension Economics and Finance,2011,10(04):509-525.
[29]BANKS J,SMITH S.Retirement in UK[J].Oxford Review of Economic Policy,2006,22(1):40-56.
[30]MCCARTHY D.The Rationales for Occupational Pensions[J].Oxford Review of Economic Policy,2006,22(1):57-65.
[31]郭磊,苏涛永.基于信号博弈的最优企业年金支出决策[J].系统工程理论与实践,2011,31(7):1272-1277.
[32]IPPOLITO A R.Pension and Indenture Premia[J].Journal of Human Resources,1994,29(3):795-812.
[33]LAZER E P.Pensions and Deferred Benefits as Strategic Compensation[J].Industrial Relations,1990,29(2):263-280.
[34]ALLEN S G,CLARK R L,MCDERMED A A.Pensions,Bonding,and Lifetime Jobs[J].Journal of Human Resources,1993,28(3):463-481.
[35]MEALLI F,PUDNEY S.Occupational Pensions and Job Mobility in Britain:Estimation of a Random-Effects Competing Risks Model[J].Journal of Applied Econometrics,1996,11(3):293-320.
[36]EVEN W E,Macpherson D A.Employer Size and Labor Turnover:The Role of Pensions[J].Industrial and Labor Relations Review,1996,49(4):707-728.
[37]殷俊,黄蓉.企业年金计划与企业员工流动性分析[J].经济评论,2009(1):133-139.
[38]GUSTMAN A L,MITCHELL O S,S TEINMEIER T L.The Role of Pensions in the Labor Market:A Survey of the Literature[J].Industrial and Labor Relations Review,1994,47(3):417-438.
[39]FRIEDBERG L,WEBB A.Retirement and the Evolution of Pension Structure[J].Journal of Human Resources,2005,40(2):281-308.
[40]LAIBSON D I,REPETTO A,TOBACMAN J.Self-Control and Saving for Retirement[J].Brookings Paper on Economic Activity,1998,(1):91-196.
[41]HUBBARD R G,SKINNER J,ZELDES S P.Precautionary Saving and Social Insurance[J].Journal of Political Economy,1995,103(2):360-399.
[42]郭磊,苏涛永.中国企业年金企业所得税优惠政策的决定因素——基于省际数据的实证研究[J].科学决策,2012,(11):43~61.
[43]陆正飞,王雄元,张鹏.国有企业支付了更高的职工工资吗[J].经济研究,2012(3):28-39.
[44]李晓东.职工福利、剩余索取权分享与国有企业的社会成本问题[J].会计研究,2010(10):76-83.
[45]林毅夫,刘明兴,章奇.政策性负担与企业的预算软约束:来自中国的实证研究[J].管理世界,2004(8):81-91.
[46]叶林祥,李实,罗楚亮.行业垄断、所有制与企业工资收入差距——基于第一次全国经济普查企业数据的实证研究[J].管理世界,2011(4):26-37.
[47]陈冬华,陈信元,万华林.国有企业中的薪酬管制与在职消费[J].经济研究,2005(2):92-101.
[48]WREN D A.The History of Management Thought[M].New York:John Wiley&Sons Inc,2005:236.
[49]李耀华.近代中国企业年金的创新、选择和扩散[J].上海财经大学学报,2011,13(3):11-18.
[50]郭磊,苏涛永.企业年金缩小企业与机关事业单位职工养老金差距的政策仿真研究——工资异质性的视角[J].社会保障研究,2013(2):48-61.
[51]郭磊,苏涛永.企业年金对养老金差距的双重影响研究[J].公共管理学报,2014,11(1):75-89.
①企业年金在中国的发展最早可以追溯到1991年,国务院颁布《关于企业职工养老保险制度改革的决定》(国发[1991]33号),首次提出了“企业补充养老保险”的概念;1995年,国务院颁布《关于深化企业职工养老保险制度改革的通知》(国发[1995]6号),规定企业可根据本单位经济效益情况,为职工建立补充养老保险;1995年,劳动部印发《关于建立企业补充养老保险制度的意见》(劳部发[1995]464),规定了企业补充养老保险的细则;1997年,《国务院关于建立统一的企业职工基本养老保险制度的决定》(国发[1997]26号),首次提出要大力发展企业补充养老保险,产生了较大推动作用。
②作者根据《2013年度人力资源和社会保障事业发展统计公报》计算得出。
①2008年,上海市总工会调查发现,在建立了年金的企业中,经营者与普通职工的年金差距达到3~5倍;一些企业的年金方案只覆盖小部分管理人员;少数企业存在大量待岗未安置人员,不具备建立年金的经济能力,却仍将年金作为高管人员的福利(http://www.sxgh.org.cn/particular.aspx?id=1953&parent ID=33)。
①本文涉及两个连续变量,工作年限(GZNX)和年龄(NIAN),基本统计量都在前文中给出。
①参保率分别为34.41%、26.02%,chi2(1)=2.5189。
②参保率分别为11.0%、2.89%,chi2(1)=21.3546。
③3个变量的系数(标准误)分别为1.426(0.331)、2.471(0.277)、-1.026(0.416)。
④在4个回归模型中,交互项的系数(标准误)分别为-0.862(0.456)、-0.875(0.451)、-1.018(0.441)、-1.023(0.433)。
⑤2012年4月,国资委副主任邵宁在博鳌论坛上称“……国有企业大锅饭、铁交椅,这些问题并没有真正的去掉。……”(http://finance.ifeng.com/news/special/2012boao/20120402/5856132.shtml)。
①根据人力资源和社会保障部《2013年度全国企业年金基金业务数据摘要》、国家工商总局《市场主体发展分析2013》计算得出。
②考虑到我国基本养老保险的名义企业缴费率已经高达20%,企业对企业年金不积极也可以理解。
③政策不允许只有企业缴费而没有职工缴费。