链长制政策与中国企业高质量发展——基于产业链供应链韧性视角的考察

Chain Chief Policy and the High-Quality Development of Chinese Enterprises——An Examination from the Perspective of Industrial and Supply Chain Resilience

在中美贸易摩擦持续升级和慢全球化的新国际环境下,产业链供应链安全与韧性被视为实现以全要素生产率提升为表征的中国企业高质量发展的有效保障。在此背景下,我国部分省份探索性地实施产业链链长制政策,以期增强产业链供应链韧性和企业协同联动能力,促进全要素生产率的释放,助推中国企业高质量发展。基于2014-2022年中国A股上市公司数据,以链长制作为一项政策冲击事件,检验其对全要素生产率的影响。结果表明:链长制政策可以显著提升企业全要素生产率,促进中国企业高质量发展。机制检验发现,链长制主要从供应关系稳定、供需结构优化和主体协同创新三个不同的产业链供应链韧性层面,提升企业全要素生产率。异质性分析发现,链长制对年轻企业、非国有企业、技术密集型企业和产业集聚水平较高地区企业的全要素生产率提升作用更加强烈。因此,要进一步构建完善的链长制政策体系,以产业链供应链全过程为着力点,强化产业链供应链韧性,助力中国企业高质量发展。

In the face of escalating trade tensions between China and the United States and a slowbalization,the security and resilience of industrial and supply chains are considered crucial safeguards for achieving high-quality development characterized by an overall improvement in productivity.Against this backdrop,certain provinces in China have proactively implemented the chain chief policy within their industrial chains as an exploratory measure.The aim is to enhance the resilience of industrial and supply chains,improve the collaborative capabilities of enterprises,facilitate the release of overall productivity,and propel Chinese businesses towards high-quality development.This study utilizes data from Chinese A-share listed companies between 2014 and 2022,taking the chain chief policy as an exogenous policy shock.Employing a multi-period difference-in-differences model,the empirical analysis examines the impact of the chain chief policy on the overall productivity of enterprises.The results indicate that the chain chief policy significantly enhances the overall productivity of enterprises,thereby promoting high-quality development among Chinese businesses.The mechanism analysis reveals that the chain chief policy primarily improves overall productivity at three different levels of resilience in industrial and supply chains:Stable supply relationships,optimized supply and demand structures,and collaborative innovation among key stakeholders.Heterogeneity analysis suggests that the positive impact of the chain chief policy on overall productivity is particularly pronounced for young enterprises,non-state-owned enterprises,technology-intensive firms,and businesses located in regions with higher industrial clustering.This research affirms the micro-level value creation role of the chain chief policy and its channels of influence on overall productivity,providing valuable insights for the formulation of industrial policies,enhancement of resilience in industrial and supply chains,and the advancement of high-quality development for enterprises.