Policy Effect and Transmission Mechanism of Innovative City Pilot on the Enterprises Digital Transformation:Quasi-natural Experiments Based on Two-fold Differential Methods
The pilot policy of innovative city is the strategic deployment of China to build an innovative country.However,there is a lack of relevant research on whether and how it affects the digital strategy choice of enterprises based on the micro-enterprise level and adopting the quantitative methods.Therefore,in the era of the digital economy,in order to provide empirical evidence for China to further promote enterprises to use institutional advantages to achieve digital transformation,from the perspective of the institutional level,taking the digital transformation of micro enterprises as the research object,this paper uses Python software to conduct text mining on keywords in the annual reports of listed companies in China from 2004 to 2020,and constructs enterprise digital transformation indicators,further uses a multi-temporal difference-in-difference model(DID)to examine the policy effect of innovative city pilots on enterprise digital transformation and its mechanism of action.It is found that compared with non-pilot cities,enterprises in pilot cities are more likely to carry out digital transformation,and this policy effect is more significant among non-state-owned enterprises,enterprises in capital-intensive industries,and enterprises in technology-intensive industries.Besides,innovative city pilots have an impact on enterprise digital transformation by easing enterprise financing constraints,promoting the agglomeration of scientific and technological talents,and optimizing the innovation environment(hard environment and soft environment).Accordingly,the paper puts forward relevant policy suggestions such as further summarizing the experience of innovative city pilot construction,adopting differentiated incentive and support policies according to enterprises,as well as paying attention to policy transmission channels like the capital,talent,new infrastructure construction and intellectual property protection,etc.
enterprise digital transformationinnovative citypilot policypolicy effecttransmission mechanismbuilding an innovative country
NETL
NSTL
万方数据
