Impact of Enterprise Financing Constraints on Labor Income Share Based on Internet of Things Data Analysis Technology

Although the Chinese economy has developed rapidly since the reform and opening up, the income distribution gap is widening year by year. The final social income distribution pattern is highly dependent on the primary distribution pattern. Therefore, the changing trend and influencing factors of labor income share have become the focus of academic research and the focus of government attention. Based on this, this article proposes enterprise financing based on Internet of Things data analysis technology. Studies on the impact of restraints on labor income shares will help further research on the impact of corporate financial restraints on future labor income shares. Based on the financial data reports published in the CCER database and the company’s IPO prospectus and annual report, this paper discusses whether the company’s key business products belong to the Internet of Things’ key technology application categories. Take 226 IoT companies as the research objects of this article, and conduct a secondary screening. The final survey sample is used to investigate the impact of corporate funding constraints on labor income share. Tests have proved that among the 179 resource-based enterprises undergoing transformation, 109 enterprises have undergone intraindustry transformation, accounting for 48.23% of the overall sample and 60.89% of the sample of transformed enterprises. Downstream expansion makes the business industry expand. This shows that funding constraints have a negative impact on labor income share. This is primarily the result of the impact of the long-term debt-to-asset ratio on labor income share.