Digital Transformation and R&D Innovation: The Moderating Effect of Marketization Degree
DOI:
https://doi.org/10.54691/bcpbm.v19i.820Keywords:
Digital transformation, R&D innovation, Degree of marketization, Nature of equityAbstract
With the continuous development of socialist market economy, more and more enterprises use digital technology to realize digital transformation. Digital transformation has an important impact on enterprise R&D and innovation. Based on the data of Shanghai and Shenzhen A-share listed companies from 2016 to 2020, this paper empirically tests the impact of enterprise digital transformation on R&D innovation. It is found that digital transformation has a significant positive impact on R&D innovation, and the degree of this impact is related to regional differences and the nature of equity. Digital transformation has a more significant impact on enterprise R&D innovation in high marketization areas. This effect is generally significant in areas with low degree of marketization, but the degree of influence is lower than that in areas with high degree of marketization. The digital transformation of non-state-owned enterprises has a more significant impact on R&D innovation; The influence of state-owned enterprises on the whole is significant, but the influence degree is lower than that of non-state-owned enterprises. Therefore, it is a feasible path to enhance the level of enterprise R&D innovation and strengthen digital investment to realize the digital transformation of enterprises. The government should also support the digital transformation of enterprises according to the location and nature of enterprises.
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