Abstract
This paper utilizes the data of China's A-share listed companies from 2008 to 2022 to explore the impact of innovation on the common wealth in depth from the micro-enterprise level. The study results show that improving enterprise innovation level has a positive promotion effect on the common wealth. However, this promotion effect varies across different types of enterprises and is particularly significant in reducing the income gap within state-owned enterprises. In addition, corporate innovation further contributes to common wealth by raising the level of employee compensation and lowering the level of executive compensation. This finding provides useful insights for policymakers.
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