数字化转型如何赋能企业突破式创新?  

How Does Digital Transformation Empower Corporate Breakthrough Innovation?

作　　者：师博[1] 侯迎信 王铮 SHI Bo;HOU Yingxin;WANG Zheng(School of Digital Economy and Management,Nanjing University,Suzhou 215163,China;School of Economics and Management,Northwest University,Xi’an 710127,China)

机构地区：[1]南京大学数字经济与管理学院,江苏苏州215163 [2]西北大学经济管理学院,陕西西安710127

出　　处：《财经问题研究》2025年第3期58-69,共12页Research On Financial and Economic Issues

基　　金：国家社会科学基金后期资助项目“中国经济高质量发展的机理与路径研究”(20FJLB026)。

摘　　要：突破式创新拓展了科技创新的边界,是驱动经济高质量发展的核心动力。本文基于2012—2023年中国沪深A股上市公司数据,采用双向固定效应模型实证检验了数字化转型对企业突破式创新的赋能效果及作用机制。研究结果显示:数字化转型能够赋能企业突破式创新;数字化转型对非国有企业、知识产权保护较强地区的企业和产业数字化水平较高地区的企业突破式创新的赋能效果更显著;数字化转型通过缓解企业融资约束、降低企业委托代理成本和促进企业融入全球创新网络赋能企业突破式创新;技术驱动型数字化转型对企业突破式创新的赋能效果强于应用驱动型数字化转型。本文的研究为从微观层面理解数字时代的创新驱动发展战略提供了经验证据,也为更充分地释放企业突破式创新潜力提供了政策启示。As a key driver behind the emergence of new quality productive forces,breakthrough innovation has become a crucial factor in promoting the high‐quality development of the real economy.Given the extensive externalities of innovation,along with the longer R&D cycles,higher costs,and uncertainties associated with breakthrough innovation,government‐guided incentive policies often encounter strategic responses from enterprises,including prioritizing quantity over quality and seeking support opportunistically,which undermines the effectiveness of such policies.Therefore,a critical challenge in implementing the innovation‐driven development strategy lies in how to continuously enhance enterprises’intrinsic innovation capabilities and effectively empower breakthrough innovation.Drawing on data from China’s A‐share listed companies between 2012 and 2023,this study employs a two‐way fixed‐effects model to empirically examine the enabling effect of digital transformation on corporate breakthrough innovation,as well as its underlying mechanisms.The findings reveal that digital transformation significantly empowers corporate breakthrough innovation,which remains robust after a series of tests.Heterogeneity analysis reveals that the effect is more pronounced for non‐state‐owned enterprises,firms located in regions with stronger intellectual property protection,and those in industries with higher digitalization.Mechanism analysis reveals that digital transformation enhances breakthrough innovation by alleviating firms’internal financing constraints,reducing agency costs,and strengthening their integration into global innovation networks.Furthermore,compared to application‐driven digital transformation,technology‐driven digital transformation emerges as the core driver of corporate breakthrough innovation.This study makes three potential contributions to existing literature.First,it enriches the research perspective on how digital transformation enables corporate breakthrough innovation.Unlike previous

关 键 词：数字化转型 突破式创新 融资约束 委托代理成本 全球创新网络 

分 类 号：F062.9[经济管理—政治经济学] F273.1