制造业企业业务流程数字化与企业价值:基于动态能力的视角  

Business Process Digitalization and Enterprise Value of Manufacturing Enterprises:Based on the Perspective of Dynamic Capabilities

作　　者：邵兵 匡贤明[3] 王翚[4] Shao Bing;Kuang Xianming;Wang Hui(School of Business Administration,Northeastern University,Shenyang 110167,China;School of Economics and Management,Hainan Normal University,Haikou 571158,China;China institute for reform and development,Haikou 570311,China;School of Economics,Hainan University,Haikou 570228,China)

机构地区：[1]东北大学工商管理学院,沈阳110167 [2]海南师范大学经济与管理学院,海口571158 [3]中国(海南)改革发展研究院,海口570311 [4]海南大学经济学院,海口570228

出　　处：《技术经济》2023年第7期109-125,共17页Journal of Technology Economics

基　　金：国家自然科学基金“新型比较优势来源与跨境数字贸易发展:理论机制、实证检验与政策优化”(72263005)。

摘　　要：从数字化转型的核心--业务流程数字化的视角,采用2007—2021年沪深A股上市公司制造业企业数据,基于动态能力理论来探索业务流程数字化对企业价值的影响及其作用机制。研究发现:采购和供应数字化、生产数字化和销售数字化对企业价值有显著的正向影响,通过工具变量法缓解内生性问题后结果依然显著。这种影响主要通过生产效率、吸收能力和创新能力的路径发挥作用。适应能力路径发挥了遮掩效应,部分原因在于适应能力对企业价值的二次非线性关系,以及企业资产规模对两者的负向调节作用。进一步分析发现,在业务流程数字化中,生产数字化通过生产效率提升企业价值的作用最小,通过技术创新提升企业价值的作用最大。这一结论不仅深化和拓展数字化转型理论基础,而且对制造企业实施数字化转型提供了理论参考。From the perspective of business process digitalization,which is the core of digital transformation,the manufacturing enterprise data of listed companies from 2007 to 2021 was used to explore the impact of business process digitalization on enterprise value and its mechanism based on dynamic capability theory.The results are as follows.The digitalization of procurement and supply,production and sales has a significant positive impact on enterprise value,and the results are still significant after the endogenous problem is alleviated by instrumental variable method.This impact mainly plays its role through the path of production efficiency,absorptive capacity and innovation capacity.The path of adaptability plays a masking effect,partly because of the nonlinear relationship between adaptability and enterprise value,and the negative regulatory effect of enterprise asset size on both.Further analysis find that in business process digitalization,production digitalization plays the smallest role in promoting enterprise value through production efficiency,and the largest role in promoting enterprise value through technological innovation.This conclusion not only deepens and expands the theoretical basis of digital transformation,but also provides theoretical reference for manufacturing enterprises to implement digital transformation.

关 键 词：企业价值 业务流程数字化 吸收能力 适应能力 创新能力 

分 类 号：F270.7[经济管理—企业管理]