技术经济与管理研究

结合国家绿色转型战略，从微观视角实证检验外资持股对于技能溢价的影响，以及低碳转型政策对于二者关系的影响。研究发现：外资持股显著促进了企业技能溢价。机制分析表明，外资持股通过影响企业员工构成与企业生产效率影响企业技能溢价。从地区制度环境视角看，低碳转型在市场化水平较高的地区，对外资持股的技能溢价效应产生更为显著的调节影响。异质性检验发现，在不同的企业家创新精神、企业内部CEO锦标赛激励与利润分配方式下，外资持股对于技能溢价呈现的影响也不相同。研究结论对基于低碳转型背景下，利用外资持股提升企业生产效率具有重要参考。

This paper grounded in the context of China's national green transition strategy,empirically examines the impact of foreign ownership on firms' skill premium and the moderating role of low-carbon transition policies. Using firm-level data,the study reveals that foreign equity participation significantly enhances firms' skill premium. Mechanism analysis indicates that foreign ownership influences the skill premium primarily through adjustments in employee composition and improvements in production efficiency. From the perspective of the regional institutional environment,the moderating effect of the low-carbon transition on the skill premium associated with foreign ownership is significantly stronger in regions characterized by a higher degree of market development and institutional quality. Heterogeneity tests show that the impact of foreign ownership on skill premium varies across firms with different levels of entrepreneurial innovativeness,internal CEO tournament incentives,and profit distribution schemes. The research findings provide important references for enhancing corporate production efficiency through foreign capital participation under the backdrop of low-carbon transition.