During the current transitional phase of China's economic development,the development of new quality productive forces of firms and the realization of high-quality development have become crucial issues of wide concern.Using the data of A-share listed firms in China from 2013 to 2022,we empirically examine the impact of the social security contribution rate on firms'new quality productive forces.The results reveal that the relationship between social security contribution rate and firms'new quality productive forces is not a simple linear relationship,and there is a significant inverted U trend.Further,on a mechanistic level,changing the structure of corporate human capital and adjusting innovation investments are the pathways through which social insurance contributions impact the level of new quality productive forces in firms.Heterogeneity analysis demonstrates that the inverted U curve is steeper in labor-intensive and low-capital-intensive firms,and the level of firms'new quality productive forces would peak at a lower contribution rate.These results provide new empirical evidence and advantageous references for the relevant authorities to further advance social security system reforms and for firms to accelerate the formation of new quality productive forces to achieve high-quality development.
social insurancenew quality productive forceslabor cost
NETL
NSTL
万方数据
