Research on the Impact of Digital Transformation of Cultural Industry Listed Companies on Technological Innovation
The digital economy is an important lever for cultural inheritance and cultural industry transformation and development in the new era.The report of the 20th National Congress of the Communist Party of China proposes to implement the national cultural digitization strategy.This paper selects the panel data of 250 A-share listed cultural companies from 2011 to 2021,draws conclusions through empirical analysis of firm,industry and year fixed effects,and uses mesmeric effect and regulatory effect to verify the transmission mechanism and regulatory mechanism.Subsequently,the findings of this paper are as follows:(1)digital transformation of cultural enterprises promotes enterprise technological innovation;(2)from a regional perspective,the impact of enterprises'digital transformation on innovation is more effective in the eastern,middle and western regions,and cultural enterprises are more concentrated in Beijing,Guangdong and other digital economy developed regions,with a greater regression coefficient;(3)from an industry perspective,in recent years,the digitalization level of China's industry has been continuously improving,and various industries have shown strong innovation effects.Among them,the cultural-related and service industries exhibit the strongest effects,while the creative design and content creation industries have relatively small industry characteristic coefficients;(4)digital transformation can improve technological innovation capability by increasing R&D investment of enterprises and arousing market attention.In addition,technological innovation capabilities can also be enhanced through the optimization of internal mechanisms and the regulatory role of external economic environment improvement.
enterprise digital transformationR&D investmenttechnological innovationmarket attention
万方数据
