《保险研究》20250907-《社保缴费征管、劳动节约型技术创新与企业效率升级》（王雪丁、张悦怡）

［摘   要］本文以2011年《社会保险法》实施为政策冲击，基于BERT专利文本分析技术与双重差分模型，系统考察社会保险缴费征管对企业劳动节约型技术创新及效率升级的影响机制。研究发现，《社会保险法》通过强化劳动成本约束，显著推动企业向劳动节约型技术领域配置创新资源，表现为专利数量、质量及占比的全面提升。这一效应源于要素相对价格变化引致的研发方向调整与高技能员工知识溢出的协同作用，在中小企业和强竞争行业中更为明显。机制分析表明，政策倒逼企业增加研发投入并优化人力资本结构，通过技术替代与渐进式创新突破劳动力成本约束。劳动节约型技术创新显著提升企业全要素生产率，并形成持续竞争优势。本文揭示了制度约束下企业创新路径的响应机制，提供了社保改革驱动高质量发展的经验证据，对完善要素价格信号引导、人力资本升级与创新政策协同具有启示意义。

［关键词］社会保险缴费征管；劳动节约型技术；创新策略；全要素生产率

［基金项目］上海市教育发展基金会和上海市教育委员会“晨光计划”项目(24CGA70)。

［作者简介］王雪丁，管理学博士，上海立信会计金融学院金融学院讲师、硕士生导师，研究方向：公司财务、企业创新；张悦怡（通讯作者），英大国际信托有限责任公司处长，硕士、CFA、FRM。

Social Insurance Contribution Collection，Labor-Saving Technological Innovation，and Enterprise Efficiency Enhancement

WANG Xue-ding，ZHANG Yue-yi

Abstract：Using the implementation of China’s 2011 Social Insurance Law as a policy shock，and employing BERT-based patent text analysis and a difference-in-differences (DID) model，this study investigates the impact mechanism of social insurance contribution collection on corporate labor-saving technological innovation and efficiency upgrading.The study reveals that the Social Insurance Law drives firms to reallocate innovation resources toward labor-saving technologies through strengthened labor cost constraints，as evidenced by significant improvement in quantity，quality，and percentage ratio of patents.This effect stems from the synergistic interplay between R&D direction adjustments induced by relative factor price shifts and knowledge spillovers from high-skilled employees，with amplified impacts observed among SMEs and in highly competitive industries.Mechanism analysis reveals that the policy compels firms to increase R&D investment and optimize human capital structures，enabling them to overcome labor cost constraints through technological substitution and incremental innovation.Labor-saving innovation significantly enhances total factor productivity (TFP) and fosters sustainable competitive advantages.The study elucidates corporate innovation response mechanisms under institutional constraints，provides empirical evidences for social security reforms to drive high-quality development，and offers insights for refining factor price signaling，human capital upgrading，and innovation policy coordination.

Key words：social insurance contribution collection;labor-saving technology;innovation strategy;total factor productivity