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Article: Minimum Wage and Corporate Investment: Evidence from Manufacturing Firms in China

TitleMinimum Wage and Corporate Investment: Evidence from Manufacturing Firms in China
Authors
Issue Date2021
Citation
Journal of Financial and Quantitative Analysis, 2021, Forthcoming How to Cite?
AbstractThis paper studies how minimum wage policies affect capital investment using the industrial census of manufacturing firms in China, where minimum wage policies vary across counties. Exploiting minimum wage policy discontinuities at county borders, we find that minimum wages increase capital investment. The investment response to minimum wages is stronger for firms that are labor-intensive, that have more room for technological improvement, and that cannot sufficiently pass on labor costs to consumers. A natural experiment based on county jurisdictional changes further assures the causal relationship.
Persistent Identifierhttp://hdl.handle.net/10722/295820

 

DC FieldValueLanguage
dc.contributor.authorGeng, H-
dc.contributor.authorHuang, Y-
dc.contributor.authorLin, C-
dc.contributor.authorLiu, S-
dc.date.accessioned2021-02-08T08:14:28Z-
dc.date.available2021-02-08T08:14:28Z-
dc.date.issued2021-
dc.identifier.citationJournal of Financial and Quantitative Analysis, 2021, Forthcoming-
dc.identifier.urihttp://hdl.handle.net/10722/295820-
dc.description.abstractThis paper studies how minimum wage policies affect capital investment using the industrial census of manufacturing firms in China, where minimum wage policies vary across counties. Exploiting minimum wage policy discontinuities at county borders, we find that minimum wages increase capital investment. The investment response to minimum wages is stronger for firms that are labor-intensive, that have more room for technological improvement, and that cannot sufficiently pass on labor costs to consumers. A natural experiment based on county jurisdictional changes further assures the causal relationship.-
dc.languageeng-
dc.relation.ispartofJournal of Financial and Quantitative Analysis-
dc.titleMinimum Wage and Corporate Investment: Evidence from Manufacturing Firms in China-
dc.typeArticle-
dc.identifier.emailLin, C: chenlin1@hku.hk-
dc.identifier.authorityLin, C=rp01808-
dc.identifier.doi10.1017/S0022109021000053-
dc.identifier.hkuros321089-
dc.identifier.volumeForthcoming-

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