【摘要】 面向经济高质量发展的时代需求，链长制聚焦于提升产业链基础能力和治理能力，是促进企业高质量发展、形成新质生产力的重要制度创新。将链长制政策实施作为一项准自然实验，选取2009—2021年沪深A股上市公司为样本，构建三重差分模型探究链长制对企业全要素生产率的影响，从企业、行业和市场三个层面对链长制的政策效果进行异质性分析，并从企业自身行为与行业外部情况两大视角进行作用渠道分析，以清晰识别链长制对企业全要素生产率的因果效应。研究表明：第一，链长制能够显著提升企业全要素生产率，在进行平行趋势检验、倾向得分匹配、安慰剂检验等一系列稳健性检验后所得结论仍然可靠。第二，链长制对不同企业的全要素生产率影响有所差异。具体而言，链长制对大型企业、高科技企业、技术密集型企业、处于成长期的企业以及处于市场环境好的地区的企业全要素生产率提升作用更为显著。第三，链长制通过促进企业创新、缓解融资约束、提升供应链效率进而提升企业全要素生产率。更多还原

【Abstract】 In response to the demand for high-quality economic development, the chain leader system, focusing on enhancing the basic capabilities of the industrial chain and strengthening its governance capabilities, makes a pivotal system innovation facilitating enterprise high-quality development and forming new quality productivity. With the implementation of the chain leader system policy taken as a “quasi natural experiment”, A-share listed companies in Shanghai and Shenzhen markets from 2009 to 2021 are studied as research samples, and a DDD model to explore the impact of the chain leader system on the total factor productivity of enterprises is constructed. The heterogeneity of the policy effect of the chain leader system is analyzed from the three levels of enterprise, industry and market, with an analysis of action channel from the two perspectives of the enterprise behavior and the external situation of the industry, so as to clearly identify the causal effect of the chain leader system on the total factor productivity of enterprises. Research has shown that: First, the chain leader system can significantly improve the total factor productivity of enterprises, and the conclusion is still reliable after a series of robustness tests such as parallel trend test, propensity score matching and placebo test. Second, the impact of the chain leader system on the total factor productivity of different enterprises is different. Specifically, the chain leader system plays a more significant role in promoting the total factor productivity of large enterprises, high-tech enterprises,technology intensive enterprises, enterprises in the growth period and enterprises in areas with good market environment.Third, the chain leader system improves the total factor productivity of enterprises by promoting enterprise innovation,easing financing constraints and improving supply chain efficiency.更多还原