中文摘要：

本文以中国＂走出去＂战略的实施为背景,采用双重差分模型深入地考察了对外直接投资对企业员工收入的影响效应。研究发现,企业对外直接投资显著地提高了员工的平均工资水平,并且这种正向的＂工资溢出＂效应具有持续性而且还是逐年递增的。与此同时,对外直接投资也显著地拉大了企业内工资差距。进一步研究发现,对外直接投资对员工收入的影响因东道国收入水平、企业经营范围的不同而具有显著的异质性。最后我们还尤其关注了对外直接投资对劳动收入份额的影响,发现企业对外直接投资并未明显提高劳动收入份额。进一步的影响渠道检验表明,尽管对外直接投资显著地提高了员工平均工资,但同时也显著促进了劳动生产率增长,正是由于后者的＂生产率＂效应部分地抵消了前者的＂工资溢出＂效应,进而导致企业对外直接投资未能对劳动收入份额产生显著的影响。

英文摘要：

Under the background of implementation of the going out strategy, this paper adopts the Difference-in-Differ- ence method to comprehensively estimate the effects of finns＇ outward foreign direct investment on their employees＇ income. The results show that, firms＇ outward foreign direct investment significantly raises employees＇ average wage, and the positive wage spillover effect is persistent and increasing year by year. We also find that firms＇ outward foreign direct investment sig- nificantly widens wage inequality. Further study indicates that, the effects of outward foreign direct investment on employees＇ income are significant different depending on host country＇s income and firm＇s business scope. Furthermore, we have a particu- lar focus on the effects of outward foreign direct investment on labor income share, and find that there is no significant im- provement in the firms＇ labor income share after it started to invest outward. The channel test shows that although firms＇ out- ward foreign direct investment significantly raises employees＇ average wage, it also significantly raises firms＇ labor productivity, and the former＇s wage spillover effect is partially cancelled out by the latter＇s productivity effect, which can explain why out- ward foreign direct investment has no significant effect on labor income share.