The Impact of Industrial Internet on the Profitability of Enterprises in Strategic Emerging Industries
This paper used the data of 804 listed companies in strategic emerging industries from 2016 to 2020 as a sample to construct a difference-in-difference(DID)model for empirical testing.The results showed that:firstly,the application of Industrial Internet technology by strategic emerging industry enterprises could significantly improve their profitability.This conclusion still holds after undergoing robustness tests such as replacing the explained variables,adjusting the research sam-ple,and PSM-DID regression.Secondly,there was heterogeneity in the Industrial Internet's enabling effect:industry-wise,it had the strongest empowerment for the new materials industry but the weakest for the biomedicine industry;regional-ly,it had"the strongest in the central,followed by the west,and smaller in the eastern,and weakest in the Northeast";the enterprise attributes were significant in empowering non-state-owned enterprises but not significant in state-owned enter-prises.Finally,the impact of the Industrial Internet on the profitability of enterprises in strategic emerging industries is mainly through the total factor productivity improvement effect and cost rate reduction effect.
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