Impact of Enterprise Digital Transformation on Technology Innovation Model

Zheng Zhiqiang, He Jiali

Foreign Economics & Management Vol. 45, Issue 09, pp. 54 - 68 (2023)  DOI:10.16538/j.cnki.fem.20230424.401

Summary

This paper employs the text analysis method to characterize enterprises’ digitalization level. Using A-share listed manufacturing companies from 2007 to 2020 as the research sample, it explores the heterogeneous impact of enterprise digital transformation on independent innovation and cooperative innovation. The main research conclusions are as follows: First, digital transformation promotes enterprise cooperative innovation, but does not significantly encourage independent innovation. Second, digital transformation primarily promotes enterprise cooperative innovation by lowering external transaction costs and increasing R&D spillover between enterprises. Third, the driving force of digital transformation for cooperative innovation is particularly evident in enterprises with a high level of uncertainty, enterprises in the growth stage, and regions with a high level of intellectual property protection; meanwhile, the decomposition of enterprise digital transformation reveals that AI, cloud computing, and big data technologies have a promoting effect on cooperative innovation, while block chain technology and the practical application of digital technology do not significantly affect cooperative innovation. Fourth, the driving force of digital transformation for cooperative innovation enhances enterprise total factor productivity. The marginal contributions of this paper are reflected in the following aspects: First, in contrast with prior literature that investigates the impact of digital technology on enterprise innovation, this paper divides technology innovation into independent innovation and cooperative innovation. It examines the specific connotation and source of enterprise innovation under the digital background, thereby enriching the relevant research on the impact of digital technology on enterprise innovation. Second, previous studies on cooperative innovation are mainly theoretical analyses and case studies, lacking rigorous empirical testing, while this paper investigates the influencing factors of cooperative innovation from a digital perspective, thereby enriching the empirical research in the field of cooperative innovation. Third, this paper further clarifies the logical relationship between “digital transformation–cooperative innovation–enterprise total factor productivity”, and verifies the high-quality development effect of cooperative innovation. Fourth, this paper finds that digital technology promotes cooperative innovation, but does not have a significant incentive effect on independent innovation, indicating that current enterprises may not be effectively utilizing digital technology to achieve their own “transformation”.

Keywords

digital transformation; technology innovation model; independent innovation; cooperative innovation