How does Supply Chain Concentration Affect R&D Investment in Digital Enterprises?——Analyzing the Moderating Role of Market Competitive Position
The digital economy,as a new form of economy,encourages enterprises to actively seek inno-vative driving forces and resources while closely monitoring changes in the external environment.It has become an important carrier for the new round of industrial revolution and driving high-quality development of China's economy.From the perspective of supply chain structure,this paper selected domestic digital economy listed companies from 2016 to 2020 as research samples,combined with the market competitive position of digital en-terprises,systematically analyzes the impact of supply chain concentration on the R&D investment intensity of digital enterprises and possible transmission path based on the market competitive position of digital enterpri-ses.The results show that the higher the concentration of supply chain,the lower the R&D investment intensity of digital enterprises.What's more,the market competitive position has a positive moderating effect on the neg-ative impact between them.From the perspective of property right heterogeneity,supply chain concentration of state-owned digital enterprises has a significantly greater negative impact on R&D investment intensity than pri-vate digital enterprises,and the market competitive position of state-owned digital enterprises has a more sig-nificant positive regulating effect on the relationship between them.Further analysis shows that,compared with customer concentration,the supplier concentration of digital enterprises has a greater negative impact on the intensity of enterprise R&D investment.The inhibition effect of supply chain concentration on enterprise R&D investment is mainly transmitted through upstream suppliers.Therefore,when making innovation decisions,digital enterprises should take the perspective of supply chain,consider the business strategies of major suppli-ers and customers,and focus on improving their own competitiveness and market position,so as to increase in-novation investment and enhance innovation ability.
digital enterprisessupply chain concentrationsupplier concentrationcustomer concentra-tionmarket competitive positionR&D investment intensity
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