Whether"chain master"can give full play to their"leading goose"is of great significance for leading the collaborative development of enterprises in the chain and promoting the security level of the industrial chain and supply chain.Based on the data of A-share listed enterprises from 2009 to 2019,this research finds that the"chain master"can exert the"leading goose effect",which can drive enterprises in the chain to improve their total factor productivity through three ways:strengthening risk management,optimizing resource allocation,and improving the ability of technology innovation.Further analysis shows that such effect becomes more positive as leading-chain enterprises are in downstream industrial chain and supply chain with high-level digital transformation and competitive geographical proximity.The research not only deepens the understanding of the vertical industrial leadership ability of"chain leader"enterprises,but also responds to the relevant policy requirements of developing the industrial chain and supply chain empowered by new quality productive forces.It also provides certain academic references for improving security and modernization of the industrial chain and supply chain,facilitating the development of new quality productive forces.