Research on the Impact of Virtual Agglomeration on Enterprise Innovation Efficiency
Improvement of innovation efficiency is a key factor for enterprises to enhance their core competitiveness,and in the era of digital economy,it is of great significance for economic and social high-quality development to empower the innovation efficiency of enterprises through virtual agglomeration.Based on the data of China's Shanghai and Shenzhen A-share listed companies and the cities where they are located,we empirically analyse the impact mechanism of virtual agglomeration on enterprise innovation efficiency,and the research results show that the deepening of virtual agglomeration can positively promote the improvement of enterprise innovation efficiency.Virtual agglomeration can promote enterprise innovation efficiency through the scale effect of management cost reduction and the cooperation effect of inter-firm technology spillover;industry market competition can positively regulate the impact of virtual agglomeration on enterprise innovation efficiency;through the analysis of heterogeneity,it is found that the enhancement effect of virtual agglomeration on enterprise innovation efficiency is more obvious in the regions with lower degree of marketisation and in state-owned enterprises.An extended study based on the micro-level of enterprises and the macro-level of government subsidies finds that the context of executive equity incentives,digital transformation of enterprises and government subsidies is conducive to enhancing the positive impact of virtual agglomeration on enterprise innovation efficiency.
万方数据
维普
