Attention allocation, factor stock adjustment, and high-quality product development

Abstract

The manufacturing industry is the foundation for building and strengthening a country. Micro-manufacturing enterprises are the basis for the development of manufacturing, and products are the core and life of enterprises. Based on micro data from industrial enterprises, this study conducts a statistical measurement on the indicators of high-quality product development. Taking the Baidu Index as the proxy variable for attention allocation, the influence of attention allocation on high-quality development of products is systematically examined both theoretically and empirically; Additionally, it seeks to ascertain whether factor stock adjustment has a mediating effect. The findings are as follows: 1. Within the full sample, 63.63% of the attention allocation process to promote high-quality development of products is achieved by optimizing the factor stock adjustment channels. 2. Capital stock and labor stock adjustment have a partial mediating effect on the high-quality development of products in capital-intensive industries, while labor stock adjustment has a partial mediating effect on labor-intensive industries. 3. The regional results show that the adjustment of capital and labor stock has a partial mediating effect in the eastern region. This conclusion provides a theoretical basis for realizing the high-quality development of China's manufacturing industry.