Digital Technology Innovation and Enterprise Quality Development

Bingtao Qin; Yuxi Guo

doi:10.62051/ijgem.v4n1.33

Authors

Bingtao Qin
Yuxi Guo

DOI:

https://doi.org/10.62051/ijgem.v4n1.33

Keywords:

Digital technology, Export technological sophistication, High-quality development of firms' exports

Abstract

Under the background of the digital economy, digital technology innovation has become an important source for enterprises to cultivate new dynamic energy for development, but the relationship between digital technology innovation and high-quality development is still unclear. In this paper, based on the patents in the field of digital technology filed by Chinese listed companies in the manufacturing industry from 2011 to 2021, we use machine learning methods to measure the innovation index of digital technology patents, and then examine the economic impact of digital technology innovation from the perspective of the technological complexity of enterprises' export products. It was found that digital technology innovation can significantly promote the high-quality development of export enterprises, and this conclusion is still valid after the robust type test. In terms of the impact mechanism, digital technological innovation promotes the high-quality development of export enterprises mainly through reducing administrative costs and improving labor efficiency. Further analysis reveals that digital technology innovation has a greater role in fostering larger-scale, non-state-owned, high-tech enterprises. The findings of this paper provide micro-level empirical evidence that digital technology empowers the high-quality development of enterprises, which provides a reference for improving the digitalization of enterprise trade and further promoting the construction of the Digital Strong Trade Project.

References

[1] Huang Sujian, Xiao Hongjun, Wang Xin. On the High-Quality Development of State-Owned Enterprises [J]. China Industrial Economics, 2018(10):19-41.

[2] Wang Yebin, Xu Xuefang. Tax Reduction and Fee Reduction and High-Quality Economic Development—Micro Evidence from Small and Micro Enterprises [J]. Tax Research, 2019(12):16-21.

[3] Xia Bing, Wu Nengquan. The Impact of Corporate Governance Level on the High-Quality Development of Mixed-Ownership Enterprises under the Evolution of State-Owned Assets Supervision System—Based on the Perspective of Capital Attributes [J]. Forecasting, 2020, 39(04):1-7.

[4] Li Jialin, Zhang Qianxiao, Dong Jiachang. Financial Development, Corporate Diversification Strategy, and High-Quality Development [J]. Economic Management, 2021, 43(02):88-105.

[5] Chen Lishan, Fu Yuanhai. The Dynamic Characteristics of Technological Innovation Affecting the High-Quality Development of Enterprises under Financing Constraints [J]. China Soft Science, 2019(12):108-128.

[6] Zhao Chenyu, Wang Wenchun, Li Xuesong. How Digital Transformation Affects Total Factor Productivity of Enterprises [J]. Finance & Trade Economics, 2021, 42(07):114-129.

[7] Yang Zonghan, Lei Lianghai, Liao Dongsheng. Does R&D Manipulation Behavior Inhibit the High-Quality Development of Listed Companies? [J]. Systems Engineering, 2020, 38(04):19-32.

[8] Forman C, Zeebroeck N. From Wires to Partners: How the Internet Has Fostered R&D Collaborations within Firms [J]. Management Science, 2012, 58(8): 1549-1568.

[9] Branstetter L G, Drev M, Kwon N. Get with the Program: Software-Driven Innovation in Traditional Manufacturing [J]. Management Science, 2019, 65(2): 541-558.

[10] Fan Hejun, Wu Ting. Can Digitalization Promote Economic Growth and High-Quality Development?—Empirical Evidence from Chinese Provincial Panel Data [J]. Journal of Management, 2021, 34(03):36-53.

[11] Li Tang, Li Qing, Chen Chuxia. The Impact of Data Management Capabilities on Enterprise Productivity—New Findings from the China Employer-Employee Matched Survey [J]. China Industrial Economics, 2020(06):174-192.

[12] He Fan, Liu Hongxia. Performance Enhancement Effect of Digital Transformation of Physical Enterprises from the Perspective of Digital Economy [J]. Reform, 2019(04):137-148.

[13] Zhao Chenyu. Digital Development and Servitization Transformation—Empirical Evidence from Listed Manufacturing Companies [J]. Nankai Business Review, 2021, 24(02):149-163.

[14] Tang Song, Lai Xiaobing, Huang Rui. How Does FinTech Innovation Affect Total Factor Productivity: Promotion or Inhibition?—Theoretical Analysis Framework and Regional Practices [J]. China Soft Science, 2019(07):134-144.

[15] Li Cangshu, Shen Yan. Risk Identification, Measurement, and Prevention of New Financial Formats in the Digital Economy Era [J]. Management World, 2019, 35(12):53-69.

[16] Yoo Y, Boland Jr R J, Lyytinen K, et al. Organizing for Innovation in the Digitized World [J]. Organization Science, 2012, 23(5): 1398-1408.

[17] Xing Xiaoqiang, Zhou Pinglu, Zhang Zhu, et al. Digital Technology, BOP Business Model Innovation, and Inclusive Market Construction [J]. Management World, 2019, 35(12):116-136.

[18] Mikalef P, Pateli A. Information Technology-Enabled Dynamic Capabilities and Their Indirect Effect on Competitive Performance: Findings from PLS-SEM and fsQCA [J]. Journal of Business Research, 2017, 70: 1-16.

[19] Porter M E, Heppelmann J E. How Smart, Connected Products Are Transforming Competition [J]. Harvard Business Review, 2014, 92(11): 64-88.

[20] Li F. The Digital Transformation of Business Models in the Creative Industries: A Holistic Framework and Emerging Trends [J]. Technovation, 2020, 92: 102012.

[21] Nambisan S, Lyytinen K, Majchrzak A, et al. Digital Innovation Management [J]. MIS Quarterly, 2017, 41(1): 223-238.

[22] Xie Weihong, Lin Peiwang, Li Zhongshun, et al. Digital Innovation: Connotation Characteristics, Value Creation, and Prospects [J]. Foreign Economics & Management, 2020, 42(09):19-31.

[23] Huang Bo, Li Haitong, Liu Junqi, et al. Digital Technology Innovation and High-Quality Development of Chinese Enterprises—Evidence from Enterprise Digital Patents [J]. Economic Research, 2023, 58(03):97-115.

[24] Yu Juanjuan, Yu Dongsheng. Government Subsidies, Industry Competition, and the Complexity of Enterprise Export Technology [J]. Journal of Finance and Economics, 2018, 44(03):112-124.