工业互联网、企业成长性与价值创造  

Industrial Internet, Enterprise Growth and Enterprise Value Creation

作　　者：卢福财[1] 陈慧 LU Fu-cai;CHEN Hui(Institute of Industrial Economics,Jiangxi University of Finance and Economics,Nanchang,Jiangxi,330013,China;School of Business,Hunan University of Humanities,Science and Technology,Loudi,Hunan,417000,China)

机构地区：[1]江西财经大学产业经济研究院,江西南昌330013 [2]湖南人文科技学院商学院,湖南娄底417000

出　　处：《经济管理》2023年第1期5-24,共20页Business and Management Journal ( BMJ )

基　　金：国家社会科学基金重大项目“数据要素参与收入分配的机制与策略研究”(20ZDA047);国家自然科学基金项目“互联网与制造企业深度融合的价值创造机理及融合模式研究”(71863015);江西省研究生创新项目“制造业生产组织平台化的价值创造机理研究”(YC2020-B129)。

摘　　要：工业互联网是推动互联网与实体经济深度融合的物质载体,是促进制造企业价值创造的核心驱动要素。本文基于非均衡增长理论模型,利用2015-2020年中国制造业上市公司相关数据,采用中介效应模型实证检验了工业互联网、企业成长性与制造企业价值创造之间的作用机理。研究发现:首先,工业互联网对企业成长性与企业价值创造均具有显著正向促进作用;其次,企业成长性在工业互联网与企业价值间具有中介效应;再次,调节机制检验进一步表明,工业互联网对企业价值创造的作用在公司治理较好的企业中更为显著。在经过一系列稳健性检验后,上述结论依然成立。研究结论有效充实了工业互联网的经济后效,也深化了信息特质对企业价值创造的作用机理。因此,提出了促进工业互联网与制造企业深度融合的参考性建议:应强化工业互联网平台对制造企业数智化建设的推动作用,增进企业成长性对制造企业价值创造的正向影响,根据企业成长性发展情况采取差异化的工业互联网实施策略,更好地发挥企业治理机制对制造业高质量发展的促进作用。With the technological progress of industrial Internet of things,the value co-creation mode of Internet thinking and consumer Internet is gradually introduced into the manufacturing industry.It forms the industrial Internet—a new production organization mode combining information and communication technology with manufacturing industry.The Industrial Internet has been widely concerned by the world since 2012.Then,as the subject of the deep integration of the Internet economy and the real economy,how does the industrial Internet create the value creation of manufacturing enterprises?What is the mechanism and path of Industrial Internet to create value for manufacturing enterprises?At present,the existing articles only regard the industrial Internet as the situational factor of enterprise value creation,but this paper takes the“specific variable”of the industrial Internet as the core factor to study the relationship between the Internet economy and the value creation of manufacturing enterprises.Moreover,it takes enterprise growth as the intermediary factor between industrial Internet and enterprise value creation,revealing the role of manufacturing enterprises in value creation under the role of industrial Internet platform.The industrial Internet is the basis for the in-depth cooperation between the Internet and the real economy,and it is the force of value creation for manufacturing enterprises.On the basis of defining the three basic concepts of industrial Internet,enterprise growth and value creation,and using the existing articles to analyze the theoretical relationship between these three,the paper establishes a theoretical model of unbalanced growth.And using the data of China’s listed manufacturing companies from 2015 to 2020,it studies the impact of industrial Internet,enterprise growth and enterprise value creation by using the mediator model.The findings show that,first of all,the industrial Internet has a significant positive effect on enterprise growth and enterprise value.Then,the growth of e

关 键 词：工业互联网 企业成长性 价值创造 非均衡增长理论模型 公司治理 

分 类 号：F273.1[经济管理—企业管理]