How does Digital Strategic Synergy in Supply Chains Drive Technological Innovation Breakthroughs in Manufacturing Firms?

Zheng Yingshan; Xie Jiaping; Dong Qi; Han Feifei

doi:doi:10.16538/j.cnki.fem.20250711.401

Summary

Based on the data from manufacturing firms listed on the Shanghai and Shenzhen A-share markets from 2007 to 2022 and their supply chains, this paper constructs an index of digital strategic synergy in supply chains. Drawing on the value co-creation theory and empirical analysis, it investigates the impact and mechanisms of such synergy on technological innovation breakthroughs in manufacturing firms. The study finds that digital strategic synergy in supply chains has a significant positive effect on technological innovation breakthroughs. This effect is particularly pronounced when manufacturing firms achieve digital strategic synergy in supply chains with downstream partners or across the entire supply chain. Mechanism testing reveals that the strengthening of supply chain finance and the reduction of internal and external information uncertainty are the two main channels through which digital strategic synergy promotes technological innovation breakthroughs. Heterogeneity analysis shows that this effect is more significant among firms with higher market positions, wider and deeper supply chain networks, and greater geographic distances within their supply chains. This paper extends the application boundary of the value co-creation theory into the field of supply chain digitalization, and offers critical theoretical insights and practical guidance for overcoming the digital isolation of firms, building a chain-wide digital ecosystem, and fostering paradigms of technological innovation breakthroughs.