动态能力真的可以促进企业数智化转型吗?

Can Dynamic Capabilities Truly Promote Digital-Intelligent Transformation in Enterprises?

摘要:

动态能力视角为解析企业在数智化转型中普遍存在的“不愿转、不敢转、不会转”问题提供了重要思路。既有研究多从能力视角出发，强调动态能力通过资源整合促进转型，却忽略了其对转型动力的影响。本研究基于动力与能力的二元视角，提出动态能力对企业数智化转型具有双重且对立的作用机制：一方面削弱企业进行颠覆式变革的转型动力，另一方面增强其整合与配置数字化资源的转型能力，二者共同导致动态能力对数智化转型的影响呈先升后降的倒U型关系。进一步研究发现，制度行动者（投资者与新闻媒体）对企业数智化转型的关注通过增强其转型合法性压力，提升了企业转型动力，从而弱化了上述倒U型关系。基于中国上市公司2015-2021年年报数据、交易所网络平台投资者问答数据与财经新闻数据的实证分析支持了研究假设。机制检验证实，动态能力显著降低了企业数智化转型动力，同时提高了其数智化转型能力。本研究不仅拓展了动态能力与企业数智化转型关系的理论认知，对相关政策制定与企业转型实践亦具有重要参考价值。

Abstract:

An important analytical framework for explaining the widespread phenomenon of firms being “unwilling, afraid, and unable” to undertake digital-intelligent transformation is provided by the dynamic capability perspective. In existing research, the capability dimension is predominantly focused on, and the role of dynamic capabilities in facilitating transformation through resource integration is emphasized. However, the impact of dynamic capabilities on transformation motivation is often overlooked. Therefore, a dual perspective of motivation and capability is adopted, and dual and opposing mechanisms exerted by dynamic capabilities on firms’ digital-intelligent transformation are proposed. Specifically, the motivation for undertaking disruptive change is weakened by dynamic capabilities, while the capability to integrate and configure digital resources is simultaneously enhanced. As a result, an inverted U-shaped relationship between dynamic capabilities and digital-intelligent transformation is jointly generated by these mechanisms. Moreover, firms’ transformation motivation is strengthened by attention from institutional actors (investors and news media). This strengthening is achieved through enhanced legitimacy pressure for transformation, and the aforementioned inverted U-shaped relationship is thereby flattened. The research hypotheses are supported by empirical analysis based on data from Chinese listed firms’ annual reports, investor-firm Q&A records from stock exchange platforms, and financial news data. In mechanism tests, it is confirmed that firms’ motivation for digital-intelligent transformation is significantly reduced by dynamic capabilities, while their corresponding capability is significantly improved. Consequently, theoretical understanding of the relationship between dynamic capabilities and digital-intelligent transformation is extended, and significant implications for policy formulation and corporate transformation practices are also provided.