A Research on Value Creation and Spillover Effect of Digital-Intelligence Empowering New-Quality Productivity of Enterprises:An Empirical Test Based on Listed Manufacturing Enterprises in China
Against the backdrop of the new round of scientific and technological revolution and industrial transformation,digital intelligence will bring about revolutionary breakthroughs in technology and serve as an impor-tant engine for empowering new-quality productivity.Taking the listed manufacturing enterprises in China's A-share market as research samples and matching them with supply chain network data,this paper systematically examines the value creation and value spillover of digitally and intelligently empowering enterprises with new-quality produc-tivity.The results show that digital intelligence can empower the new-quality productivity of manufacturing enterpri-ses and there is value spillover to upstream and downstream enterprises,which still holds true after a series of endo-geneity and robustness tests.The mechanism analysis indicates that digital intelligence empowers the value spillover of enterprises'new-quality productivity through the collaborative transformation mechanism,resource allocation mechanism and knowledge spillover mechanism.The heterogeneity analysis shows that when the target enterprises are state-owned enterprises,the upstream and downstream enterprises are non-high-tech and small-scale enterpri-ses,and the geographical distance between enterprises is relatively short and the value spillover effect of digitally empowering the new-quality productivity of manufacturing enterprises is stronger.Therefore,it is necessary to in-crease the input of digital intelligence resources,stimulate the innovation vitality of enterprises,promote the digital intelligence transformation of the manufacturing industry,strengthen the collaborative transformation mechanism,resource allocation mechanism and knowledge spillover mechanism to give full play to the empowering effect of digit-al intelligence,and implement policies according to the characteristics of enterprises in an orderly manner to pro-mote the digital intelligence transformation of manufacturing enterprises.
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