以2008~2023年中国上市平台企业数据为样本，采用双重差分方法评估平台企业并购对劳动收入份额的影响。研究发现：平台企业并购能够通过提升市场势力、推动技术进步、促进零工经济3个作用渠道显著降低劳动收入份额。异质性分析表明，在高融资约束企业、高科技行业，以及劳动保护力度较弱的地区，平台企业并购对劳动收入份额的降低作用更加明显。进一步研究发现，平台企业并购将提升高技能员工劳动收入份额，压缩低技能员工劳动收入份额；同时，平台企业并购对劳动收入份额的影响与其并购规模有关，并购规模增大将显著降低企业劳动收入份额。

Using data from Chinese listed platform enterprises between 2008 and 2023, this study employs a multi-period DID (difference-in-differences) approach to assess the impact of platform enterprise mergers and acquisitions (M&As) on labor income share. The results show that platform enterprise M&As significantly reduce labor income share through three channels: enhancing market power, driving technological progress, and fostering the gig economy. Heterogeneity analysis indicates that the negative impact of platform enterprise M&As on labor income share is more pronounced in firms with high financing constraints, in high-tech industries, and in regions with weaker labor protection. Further analysis reveals that platform enterprise M&As increase the labor income share of high-skilled workers while squeezing the labor income share of low-skilled workers. Additionally, the impact of platform enterprise M&As on labor income share is related to the scale of the merger, with larger merger scales significantly reducing the labor income share of firms.