数智化转型与企业价值链跃迁 ——基于理论建模与微观数据的双重检视

How Does Digital and Intelligent Transformation Drive Enterprise Value Chain Upgrading? Dual Evidence from Theoretical Modeling and Micro-level Data

摘要:

在全球价值链重构背景下，数智化转型已成为微观企业培育新质生产力、突破“低端锁定”的核心动能。针对现有研究在量化测度与数理推演上的不足，本文进行双重拓展：一是构建有效剥离“短期垄断溢价”与“低效技术冗余”的微观企业价值链跃迁指数；二是将数智化投入嵌套入异质性企业模型，通过数理推演揭示转型红利与边际扩张成本的对冲机理。依托2014—2023年中国A股上市公司面板数据，本文实证考察了其内在逻辑与边界条件。研究表明：数智化转型显著驱动了企业全球价值链地位的实质性攀升；机制检验发现，其通过破除组织信息摩擦提升资源配置效率，并依托技术溢出效应激发实质性创新产出，构筑了“技术—效率”双轮驱动路径，实现了理论建模与实证经验的双重闭环；此外，该效应在面临激烈竞争倒逼、身处高水平数据市场、非国有及中部地区企业中更为凸显，进一步拓展了赋能的作用边界。研究结论不仅为精准评估微观主体价值链地位提供了量化工具，也为不同禀赋企业因地制宜制定转型战略及政府精准施策提供了经验启示。

Abstract:

In the era of the digital economy, digital-intelligent transformation is not only a key lever for enterprises to build new-quality productive forces but also an endogenous driver for them to reshape competitive advantages and achieve upward mobility in their Global Value Chain (GVC) positions. This paper constructs a heterogeneous firm model incorporating digital-intelligent capital inputs and theoretically reveals the internal mechanism of digital-intelligent transformation on enterprise value chain upgrading through mathematical deduction. We then conduct an empirical test using panel data of A-share listed companies from 2014 to 2023. The results show that: (1) Digital-intelligent transformation significantly drives the rise of enterprises’ GVC positions, and this conclusion remains robust after addressing endogeneity and conducting a series of robustness checks; (2) Mechanism tests indicate that digital-intelligent transformation empowers value chain upgrading primarily through three channels—the “technological innovation effect”, “efficiency optimization effect”, and “total factor productivity improvement effect”—exhibiting a “technology-efficiency” dual-driving characteristic; (3) Heterogeneity analysis reveals that this enabling effect is more pronounced in enterprises with high R&D reserves, those operating in fully competitive markets, and non-state-owned enterprises. This study clarifies the micro-level boundary of digital-intelligent transformation’s role and provides theoretical logic and empirical evidence for Chinese enterprises to leverage digital technology to break free from the “low-end lock-in” and achieve a leap to the high end of the value chain.