Supply Chain Digitization and Enterprise Productivity:From the Perspective of Factor Allocation and Supply Chain Governance
There have been rich and useful explorations on the relationship between digital technology and enterprise pro-ductivity,but the existing literature mainly emphasizes digital technology and weakens its integration process with the specific business activities of enterprises,which leads to certain limitations on the depth of research and practical value.In the context of accelerating the deep embedding of digital technologies in modem supply chains,it is of great theoretical and practical signi-ficance to explore the impact of supply chain digitization on enterprise productivity.Using text analysis and machine learning methods to portray the level of supply chain digitization of micro enterprises,and taking Chinese A-share listed companies as samples from 2010 to 2022,we empirically examine the impact of supply chain digitization on enterprises'productivity using the fixed effects model based on theoretical analyses,and address the endo-geneity issue using instrumental variables method and difference-in-differences method.The role mechanisms of supply chain digitization in enhancing enterprises'productivity are revealed from factor allocation and supply chain governance respectively,and the heterogeneous empowerment effect and concurrent supply chain spillover effect are further analyzed.The results of this study show that supply chain digitization can significantly enhance enterprise productivity.In terms of the mechanism of action,supply chain digitization can produce factor allocation effects,enhance the technological innovation ability of enterprises and optimize the structure of human capital,as well as supply chain governance effects,and improve the efficiency of the supply chain and reduce the supply chain dependence,which in turn can promote the productivity improve-ment of enterprises.Heterogeneity analysis reveals that the productivity enhancement effect of supply chain digitization is more pronounced in enterprises with more strategic vision of executives,enterprises with higher environmental uncertainty,SMEs,capital-intensive enterprises,and labor-intensive enterprises,and mainly comes from procurement and marketing.Ex-tended research finds that supply chain digitization also has productivity spillover effects,which can lead to productivity gains in both upstream and downstream supply chain enterprises,but mainly in the form of"upward spillover"effects.Empirically examining the role of supply chain digitization on enterprise productivity enhancement opens the"black box"of its mechanism from the perspectives of factor allocation and supply chain governance,and helps to improve the understand-ing of how digital technology affects enterprise productivity from the perspective of supply chain.The results of the study have certain guiding value for supporting supply chain innovation and optimization,guiding supply chain node enterprises to co-operate and win-win cooperation,and promoting enterprises to improve quality and efficiency.
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