新质生产力对企业价值的影响——基于市场关注视角  

The Impact of New Quality Productivity on Enterprise Value:From the Perspective of Market Attention

作　　者：肖国安[1] 肖婷 周建军 XIAO Guoan;XIAO Ting;ZHOU Jianjun(Business School,Xiangtan University,Xiangtan,Hunan 411105,China;College of Finance and Statistics,Hunan University,Changsha,Hunan 410082,China)

机构地区：[1]湘潭大学商学院,湖南湘潭411105 [2]湖南大学金融与统计学院,长沙410082

出　　处：《城市学刊》2025年第2期54-63,共10页Journal of Urban Studies

基　　金：教育部人文社会科学基金青年项目(22YJC790085)。

摘　　要：提升企业价值是实现企业高质量发展的关键环节。基于2011—2022年沪深A股上市企业的面板数据,实证分析新质生产力与企业价值的关系以及市场关注在其中发挥的传导效应,以期为揭示新质生产力与实体经济高质量发展的关系提供微观证据。研究结果显示:第一,新质生产力的发展有助于提升企业价值,这种影响具有持续性;第二,异质性分析表明新质生产力对企业价值的影响在东部地区、非国有企业以及高科技产业中更为显著;第三,新质生产力能够通过提高企业的市场关注,助力驱动企业价值提升。Enhancing enterprise value is a crucial aspect in achieving high-quality development for enterprises.This paper empirically examines the relationship between new quality productivity and enterprise value using panel data from Shanghai and Shenzhen A-share listed companies spanning from 2011 to 2022.Additionally,it explores the transmission mechanism through market attention to provide micro-evidence that elucidates the connection between new quality productivity and the high-quality development of the real economy.The results show that:First,the development of new quality productivity contributes to the enhancement of enterprise value with enduring effects.Second,heterogeneity analysis reveals that the impact of new quality productivity on firm value is more pronounced in the eastern region,as well as among non-state-owned enterprises and high-tech industries.Third,new quality productivity can help facilitate enterprise value growth by improving the market attention of enterprises.

关 键 词：新质生产力 市场关注 企业价值 

分 类 号：F275.1[经济管理—企业管理]