Impact Mechanism of Integration of Informatization and Industrialization on Digital Innovation in Enterprises
The digital economy has become an important driving force for high-quality economic development.However,the penetration rate of the digital economy in the manufacturing sector in China is only 21%,much lower than the average level in developed countries.Manufacturing enterprises are facing a contradiction between the demand for digital transformation and the lack of digital innovation capabilities.Therefore,it is important to study how to improve the digital innovation level of enterprises,especially manufacturing enterprises,for accelerating industrial transformation and upgrading and building a manufacturing power.Based on the data of listed companies in Chinese manufacturing industry from 2007 to 2020,a multi-period difference-in-differences model is utilized to examine the impact of the"integration of industrialization and industrialization"policy on digital innovation within enterprises.Then,the role path of pilot policies in promoting digital innovation in enterprises is analyzed through mechanism verification analysis.Finally,the heterogeneity effect of pilot policies is analyzed through group testing.The results show that the pilot policy can significantly promote the level of digital innovation of enterprises,and the number of digital economy patent applications in pilot enterprises increased by approximately 15.2%.It still holds up after robustness tests such as parallel trend test,propensity score matching,Heckman test,placebo test,and substitution variable.Mechanism analysis shows that pilot policies mainly promote digital innovation in enterprises through paths such as easing financing constraints,increasing digital subsidies,and enhancing R&D intensity.The results of heterogeneity analysis show that the impact of pilot policies on companies in the growth phase is significantly positive,while it is not significant for companies in the mature and declining phases.Pilot policies are more effective in promoting digital innovation in non-digital economy companies,while the impact on digital companies is not significant.Pilot policies have a specific and significant promoting effect on companies in developed financial markets,while the effect is not significant for companies in underdeveloped financial markets.The research conclusions provide empirical evidence for promoting the deep integration of informatization and industrialization,accelerating the development of digital innovation in manufacturing industry,and realizing the construction of manufacturing power and network power.The marginal contribution lies in examining the driving factors of enterprise digital innovation from a policy-driven perspective,filling a gap in existing research.By constructing quasi-natural experiments,the causal effect of pilot policies on enterprise digital innovation is identified more accurately,overcoming the shortcomings of existing literature in addressing endogeneity issues.The origin and development process of the pilot policies for the"integration of informatization and industrialization"are examined,and the practical effects of these policies on enterprise digital innovation are evaluated from the perspective of companies.It reveals the mechanisms and heterogeneity in the impact of the pilot policies on enterprise digital innovation.
digital innovationintegration of industrialization and industrializationquasi-natural experimentdifference-in-differences modelmanufacturing industry
NETL
NSTL
万方数据
