New Quality Productive Forces and Corporate Value Creation: A Mediation Analysis Based on Technological Innovation

Xianlu Wang (), Rui Wang () and Ruijie Ma ()
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Xianlu Wang: Qingdao University of Technology
Rui Wang: Qingdao University of Technology
Ruijie Ma: Qingdao University of Technology

A chapter in Proceedings of the 2026 4th International Conference on Digital Economy and Management Science (CDEMS 2026), 2026, pp 29-38 from Springer

Abstract: Abstract This study examines the impact of new quality productive forces (NPRO) on corporate value and its underlying mechanisms using a sample of all A-share listed companies from 2015 to 2024. The results show that NPRO significantly and positively influences corporate value, a conclusion that remains robust across various tests. Mechanism analysis reveals that technological innovation plays a mediating role in this relationship. Furthermore, heterogeneity analysis indicates that the value-enhancing effect of NPRO is more pronounced among firms in high-tech and highly competitive industries. This paper provides micro-level empirical evidence of the economic consequences of NPRO, offering valuable insights for governments to formulate differentiated policies and for enterprises to pursue high-quality development.

Keywords: New Quality Productive Forces; Corporate Value; Technological Innovation; High-tech Industries; Market Competition (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6239-699-9_5

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DOI: 10.2991/978-94-6239-699-9_5

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