Managerial Competence Energizes Total Factor Productivity of Enterprises

In the environment of enterprise total factor productivity declining year by year, it is particularly important to find the factors that stimulate production efficiency. Enterprise managers are the important makers of production strategy, but how their own ability affects enterprise total factor productivity has not been clearly defined. In this paper, A sample of Shanghai and Shenzhen A-share listed companies from 2007 to 2022 is selected to test the impact of managers' ability on the total factor productivity of enterprises, explore the moderating effect of digital transformation degree index and supply chain efficiency, and divide enterprises into high-tech and high-pollution groups for in-depth analysis. The results show that manager competence has a significant promoting effect on the total factor productivity of enterprises. Both digital transformation and supply chain efficiency will strengthen the promoting effect of manager competence on the total factor productivity of enterprises. In high-tech and high-polluting enterprises, the promoting effect of manager competence is stronger. This paper expands the research on manager competence, explores one of the driving forces of firm TFP, and provides inspiration for enterprises to make strategic choices.