新质生产力是以科技创新为主导、实现关键性颠覆性技术突破而产生的生产力，攻克关键性颠覆性技术是链主企业主导产业链治理的核心目标。以2010—2022年我国战略性新兴产业A股上市公司为例，定量识别“行业—年份”层面的行政性和经济性链主企业，测算链主企业的新质生产力和产业链治理水平，实证检验链主企业主导的产业链治理对新质生产力的影响。结果表明，链主企业主导的产业链治理能够显著提升新质生产力；在调节效应方面，市场化环境正向调节链主产业链治理对新质生产力的影响。拓展的同群效应分析表明，链主主导的产业链治理存在显著行业同群效应，而地区同群效应具有显著跨层特征，长三角的地区跨层同群效应更显著。研究结论可以为培育产业链链主、培育和发展新质生产力、提升产业链现代化水平及实现经济高质量发展提供参考。

Advanced technology serves as the intrinsic impetus for the development of new-quality productivity. Moreover, disruptive technology represents an advanced level of technology and serves as the cutting-edge driver for the advancement of new-quality productivity. In essence, to cultivate and develop new quality productive forces, it is urgent to invest in innovation and optimize the allocation of high-quality production factors, and break through key disruptive technological innovations.
Since 2019, China has implemented the industrial policy of "chain leader system", with leading-chain enterprises as the main governance entities, committed to gathering resources and optimizing allocation, and smoothing key disruptive technological bottlenecks. The governance of industry chains, led by leading-chain enterprises, is a collaborative process that includes multiple parties, primarily overcoming resource limitations through institutional arrangements and focusing on addressing disruptive technological challenges.
To investigate the relationship between the industrial chain governance of leading firms and the enhancement of new quality productive forces, this study examines Chinese A-share listed companies from 2009 to 2022. It elucidates theoretically the impact mechanism of industrial chain governance of leading-chain enterprises on new quality productive forces, and the moderating role of market-oriented environment on this relationship. Furthermore, it examines the peer effects in industrial chain governance of leading-chain enterprises, and subsequently formulates relevant theoretical hypotheses and conducts empirical tests.〖HJ*3〗
The main innovations and marginal contributions of this article are reflected in four aspects. Firstly, the quantitative identification of leading-chain enterprises broadens the micro-identification scope for subsequent industrial chain research. Secondly, it measures the new quality productive forces and industrial chain governance levels of enterprises, providing a reference for studying the ecological dominance of leading-chain enterprises. Thirdly, the article conducts empirical tests to examine the promoting effect of industrial chain governance on new quality productive forces, as well as the peer effects of the market-oriented environment, thereby expanding the research on the economic impacts of industrial chain governance and the cultivation factors of new quality productive forces. Fourthly, the study explores the industry and regional peer effects of leading-chain enterprises' industrial chain governance, enriching the research on the peer effects of leading-chain enterprise behavior and offering guidance and reference for governments and enterprises to enhance industrial chain governance.
The main conclusions of this study are as follows: (1) The industrial chain governance of leading-chain enterprises can significantly improve the level of new quality productive forces. After a series of robustness tests, the research conclusion still holds; (2) The market-oriented environment can positively moderate the effect of industrial chain governance on improving new quality productive forces; (3) There is a significant industry peer effects in the industrial chain governance of leading-chain enterprises, and the industrial chain governance of enterprises in the same group of economic zones will significantly affect the industrial chain governance of enterprises in the same group of subordinate provinces.
This study provides the following suggestions for enterprises and governments. For leading-chain enterprises, firstly, it is necessary to enhance the agglomeration ability of new economic factors, follow the formation laws of new quality productive forces, plan the cultivation path of new quality productive forces, and leverage the agglomeration effect of new-quality labor and new-quality capital. Secondly, it is necessary to enhance the optimization combination and collaborative allocation ability of new-quality economic factors, lead the optimization and upgrading of supporting industries, coordinate and deploy multi-threaded research and development work, and achieve intensive resource management. For non leading-chain enterprises, it is necessary to coordinate with industry and regional leading-chain enterprises to gather high-quality economic factors, follow up on technological research and development trends, and simultaneously strengthen industrial supporting upgrading. For the governments, it is necessary to moderately adjust the boundaries of rights and responsibilities with leading-chain enterprises, strengthen the aggregation of new qualitative elements by leading-chain enterprises, expand the scope for optimizing the allocation of new-quality economic elements by leading-chain enterprises, furnish a comprehensive market environment and foundational systems for cultivating new quality productive forces by leading-chain enterprises.