数字技术创新与中国企业高质量发展——来自企业数字专利的证据  

Digital Technology Innovation and The High-quality Development of Chinese Enterprises:Evidence from Enterprise's Digital Patents

作　　者：黄勃[1] 李海彤 刘俊岐 雷敬华 HUANG Bo;LI Haitong;LIU Junqi;LEI Jinghua(School of Finance,Renmin University of China;China Financial Policy Research Center;Business School,Renmin University of China;Institute for Financial and Accounting Studies,Xiamen University)

机构地区：[1]中国人民大学财政金融学院、中国财政金融政策研究中心,100872 [2]中国人民大学商学院,100872 [3]厦门大学财务管理与会计研究院,361005

出　　处：《经济研究》2023年第3期97-115,共19页Economic Research Journal

基　　金：国家自然科学基金重点项目(72233003);国家自然科学基金青年项目(71703162,71803186)的资助。

摘　　要：在当前数字经济时代,数字技术创新已成为驱动中国经济发展的核心要素。本文以中国上市公司为研究样本,通过文本分析识别企业数字专利以刻画数字技术创新水平,进而从企业全要素生产率的角度考察了数字技术创新的经济后果。研究发现,数字技术创新显著促进了企业全要素生产率提升,赋能了中国企业高质量发展,这一结论在控制内生性和进行稳健性检验后依然成立。在作用机制方面,数字技术创新发挥了管理赋能、投资赋能、营运赋能与劳动赋能功能,有助于企业降低内部管控成本,提高投资决策质量与资产营运效率,改善劳动力资源结构,从而推动企业全要素生产率增长。进一步分析发现,完善的知识产权保护体系与数字基础设施将会增大数字技术创新对企业生产率的积极影响;同时,对于高新技术企业以及劳动密集型企业,数字技术创新的生产率效应更为显著。此外,底层技术与实践应用层面的数字技术创新对企业生产率均有提升作用。本研究验证了数字技术创新对实体经济高质量发展的赋能作用,为我国数字技术创新的政策制定以及企业数字化发展的战略决策提供了启示。In the current era of digital economy,digital technologies represented by big data,artificial intelligence,cloud computing and blockchain continue to innovate and develop,and are deeply integrated with China's real economy.These digital technology innovations promote the rapid development of the digital economy and become an important engine for building China's modern economic system.As the micro-foundation of economic operation,enterprises are the important practitioners of digital technology innovation activities.Although most literature believes that digital technology promotes enterprise development,digital technology requires an enterprise's substantial investment in the stage of research and development.Many enterprises are reluctant to choose independent innovation as their digital development path.Hence,the academic community urgently needs to explore the impact of digital technology innovation on the high-quality development of enterprises and its mechanisms.Using a sample of China's listed enterprises,we identify enterprises'digital patent application information through text analysis,to measure digital technology innovation,and then examine the economic consequences of digital technology innovation from the perspective of enterprise total factor productivity(TFP).We find that digital technology innovation significantly improves enterprise TFP,and then effectively promotes the high-quality development of Chinese enterprises.This conclusion still holds after controlling for endogeneity and testing for robustness.In terms of mechanisms,digital technology innovation plays the functions of management empowerment,capital empowerment,operation empowerment and labor empowerment,helping enterprises to reduce internal management expenses,and improve operational capacity,investment efficiency and labor resource structure,thereby improving enterprise TFP.Furthermore,we find that sound intellectual property protection system and digital infrastructure increase the positive impact of digital technology innovation o

关 键 词：数字技术 全要素生产率 企业创新 高质量发展 文本分析 

分 类 号：F49[经济管理—产业经济] F279.2