摘要
信息消费是数字经济高速发展背景下产生的新型消费形态,通过有效刺激内需、助推企业数字化转型等深刻影响到企业的各方面.通过分析信息消费对微观主体的作用效果可以更好地为企业纾困解难,推动经济高质量发展.文章从企业市场份额视角切入,基于2011-2019年沪深两市A股企业数据,采用双重差分法分析信息消费对企业市场表现的影响,并进一步分析企业创新的调节效应.结果表明:信息消费增强了行业内的企业竞争,降低了上市企业市场份额;信息消费对企业市场份额的影响具有区域和行业的异质性,对东部地区企业市场份额具有显著的负向影响,对中部地区企业市场份额具有显著的正向影响,对资本密集型企业市场份额的负向影响显著强于劳动密集型企业;引入企业创新可以发现,企业创新投入与创新效率在信息消费影响企业市场份额的过程中发挥着调节作用,企业创新投入高会增强信息消费对企业市场份额的负向影响,企业创新效率高则会减缓信息消费对企业市场份额的负向影响.
Abstract
Information consumption is a new form of consumption under the background of the rapid develop-ment of digital economy,which has a deep impact on all aspects of enterprises by effectively stimulating domestic demand and promoting the digital transformation of enterprises.By analyzing the effect of information consumption on micro-entities,we can better provide relief for enterprises and promote high-quality economic development.Starting from the perspective of enterprise market share,and based on the data of Shanghai and Shenzhen A-share enterprises from 2011 to 2019,this paper analyzes the impact of information consumption on the market perfor-mance of enterprises by using the double-difference method,and further analyzes the moderating effect of enter-prise innovation.The results show that:(1)Information consumption enhances the competition of enterprises among the industry and reduces the market share of listed enterprises;(2)the impact of information consumption on the market share of enterprises has regional and industrial heterogeneity:it has a significant negative impact on the mar-ket share of enterprises in the eastern region and a significant positive impact on the market share of enterprises in the central region;the negative effect on the market share of capital-intensive enterprises is significantly stronger than that of labor-intensive enterprises;and(3)the introduction of enterprise innovation shows that enterprise inno-vation input and innovation efficiency play a moderating role in the process of information consumption affecting en-terprise market share:high enterprise innovation input will enhance the negative impact of information consumption on enterprise market share;the high innovation efficiency of enterprises will reduce the negative impact of informa-tion consumption on the market share of enterprises.
万方数据