数字化转型如何驱动企业融通创新？——基于研发操纵与资源柔性的中介效应分析

How does digital transformation drive integrated innovation in enterprises? ——An analysis based on the mediating effects of R&D manipulation and resource flexibility

摘要:

如何利用数字化转型切实推动产业链上中下游实现融通创新,有效达成创新资源整合与价值共创,已成为当前培育新质生产力的重要议题。基于动态能力理论,以 2000—2023年中国沪深A股上市公司为研究样本,系统考察数字化转型对企业融通创新的影响机制及其作用边界。研究发现,数字化转型与企业融通创新之间并非简单线性关系,而是呈现显著的倒U型关系,表明适度的数字化投入能够显著促进企业融通创新,但当数字化转型过度推进时,其边际促进效应会逐步减弱。进一步经过内生性处理、替换核心变量、调整样本区间等多项稳健性检验后,结论依然成立。调节效应分析还发现,经济政策不确定性与市场集中度会对该倒 U 型关系产生负向调节作用。进一步机制检验表明,数字化转型主要通过降低企业研发操纵行为、提升资源柔性来推动融通创新水平提升。本文研究不仅为理解数字化时代企业融通创新的形成逻辑提供了新的理论解释,也为企业在“十五五”期间科学推进数字化转型、优化创新生态和提升价值共创能力提供了实践参考。

Abstract:

How digital transformation can effectively promote integrated innovation across the upstream, midstream, and downstream segments of industrial chains has become an important issue in the cultivation of new quality productive forces. Based on dynamic capability theory, Chinese A-share listed firms in Shanghai and Shenzhen from 2000 to 2023 were selected as the research sample. The impact mechanism and boundary conditions of digital transformation on corporate integrated innovation were systematically examined. The results show that the relationship between digital transformation and corporate integrated innovation is not simply linear. A significant inverted U-shaped relationship is found. This indicates that a moderate level of digital investment can significantly promote corporate integrated innovation. However, when digital transformation is promoted excessively, its marginal promoting effect gradually weakens. The conclusion remains valid after a series of robustness tests, including endogeneity treatment, replacement of core variables, and adjustment of the sample period. The moderating effect analysis further shows that economic policy uncertainty and market concentration negatively moderate this inverted U-shaped relationship. The mechanism test further indicates that digital transformation promotes integrated innovation mainly by reducing corporate R&D manipulation and improving resource flexibility. New theoretical explanations are provided for understanding the formation logic of corporate integrated innovation in the digital era. Practical references are also offered for enterprises to scientifically promote digital transformation, optimize innovation ecosystems, and enhance value co-creation capability during the 15th Five-Year Plan period.