企业数字化转型与全要素生产率 —基于创新绩效的中介效应

在数字经济时代，数字化转型是企业发展的重要支撑和必然选择。借助数字技术进行数字化转型是企业实现高质量发展的内生动力，也是 “十四五”规划的重要战略。本文以2008—2020年中国沪深A股上市公司为研究样本，从资源基础理论的视角，运用逐步回归分析法，实证检验了企业数字化转型对全要素生产率的影响及其内在机理。研究结果表明：企业数字化转型对全要素生产率具有显著的正向影响；企业数字化转型对创新绩效具有显著的正向影响；创新绩效在数字化转型促进全要素生产率的机制中发挥中介作用。进一步异质性分析发现，企业数字化转型对全要素生产率的促进效果在非国有企业中更明显。本文的研究为我国企业进行数字化转型、实现高质量发展提供了相关启示。

Corporate digital transformation and total factor productivity-Based on the mediating effect of innovation performance

In the era of digital economy, digital transformation is an important support and inevitable choice for enterprise development. Digital transformation with the help of digital technology is the endogenous driving force for high-quality development and an important strategy in the 14th Five-Year Plan. This paper empirically examines the impact of digital transformation on total factor productivity and its underlying mechanism from the perspective of resource-based theory by using stepwise regression analysis, taking Chinese A-share listed companies in Shanghai and Shenzhen from 2008 to 2020 as the research sample. The results show that: digital transformation of enterprises has a significant positive impact on total factor productivity; digital transformation of enterprises has a significant positive impact on innovation performance; innovation performance plays a mediating role in the mechanism of digital transformation for total factor productivity. Further heterogeneity analysis reveals that the effect of digital transformation of enterprises on promoting total factor productivity is more obvious in non-state enterprises. The research in this paper provides relevant insights for Chinese enterprises to carry out digital transformation and achieve high-quality development.