Effect of new subway openings on corporate employee compensation: Evidence from China

Zhaomin Li, Minting Zhou, Hanwen Xu and Chunchun Jia

Finance Research Letters, 2025, vol. 75, issue C

Abstract: This study examines the effect of new subway openings on employee compensation. Using data from China's A-share listed companies, we find that a new subway opening significantly improves employee compensation. We identify two primary reasons for this positive effect: increasing in total factor productivity and improving in labor market competition. Our study also indicates that new subway openings promote the economic advancement of the region.

Keywords: Subway openings; Employee compensation; Total factor productivity; Labor market competition (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325001175

DOI: 10.1016/j.frl.2025.106852

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