New Quality Productivity and the High-Quality Development of High- End Manufacturing Enterprises

Abstract

New-quality productivity is a key path to promoting high-quality development of high-end manufacturing enterprises. This paper empirically examines the impact of new-quality productivity on high-quality development of high-end manufacturing enterprises, using Shanghai and Shenzhen A-share listed high-end manufacturing enterprises from 2012 to 2022. The study demonstrates that new-quality productivity significantly promotes high-quality development of high-end manufacturing enterprises and passes a series of robustness tests. New-quality productivity can enhance total factor productivity growth by improving digital transformation, enhancing enterprise innovation, and alleviating financing constraints, thereby achieving high-quality development. The enabling effect of new-quality productivity is more pronounced in high-end manufacturing enterprises with smaller scale and less diverse executive teams, as well as in cities with low tax burdens and strong government intervention. To this end, the government should promote the differentiated development of new-quality productivity, guide enterprises to develop and utilize new-quality productivity to improve resource allocation efficiency and develop new-quality productivity tailored to both enterprise and local conditions to better promote high-quality development of high-end manufacturing enterprises.