The Impact of Co-innovation on Digital Global Value Chain Embedding——Analysis of the Mechanism of Action based on New Quality Productivity
Based on the data of China's Shanghai and Shenzhen A-share listed enterprises from 2012 to 2022,this study uses a two-way fixed effects model and a mediation effect model to empirically analyzes the direct impact of co-innova-tion on digital global value chain embedding,as well as the mechanism of the role of new quality productivity between the two.It is found that co-innovation will accelerate digital global value chain embedding,and this conclusion is still valid after a series of robustness and endogeneity tests.Moreover,co-innovation mainly contributes to the embedding of digital global value chains by improving the level of new quality productivity.Heterogeneity analysis shows that,compared with enterprises in growth and decline stages,co-innovation has the most significant promoting effect on digital global value chain embedding of mature enterprises.Compared with non-state-owned enterprises,co-innovation can promote the dig-ital global value chain embedding of state-owned enterprises.Therefore,we should develop co-innovation model suppor-ted by multiple entities,comprehensively improve the development level of new quality productivity,implement differen-tiated digital global value chain embedding strategy,so as to help enterprises to embed digital global value chain with high quality.
digital global value chain embeddingco-innovationnew quality productivityenterprise life cycle
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