Research On Digital Transformation, Manufacturing Servitization And Equipment Manufacturing Performance

The digital transformation and service level of manufacturing in the digital economy era are key factors and important parameters for promoting and measuring the high-quality development of manufacturing.Both digital transformation and servitization are the core development directions of the equipment manufacturing industry.Both have mutual promotion and are essential to the sustainable development of enterprises.Practices in developed economies have proved that realizing digital transformation development and manufacturing servitization is an effective way to promote the transformation and upgrading and performance improvement of the equipment manufacturing industry.Therefore,clarifying the mechanism of action between the digital transformation of the equipment manufacturing industry,the servitization of the manufacturing industry,and corporate benefit is important.In order to empirically study the impact of corporate digital transformation on the level of servitization and corporate benefit,this paper collects the data of 2,445A-share listed companies in China’s equipment manufacturing industry from 2014 to2018.Using econometric methods,the empirical analysis results are as follows: The digital transformation of the equipment manufacturing industry,the servitization of the manufacturing industry,and the overall efficiency and performance of the industry have gradually improved.The servitization of the manufacturing industry has played a complete intermediary effect,but it is relatively weak.Since the development of the concept of digital transformation is later than the servitization of the manufacturing industry,there is no intermediary effect.According to the 2012 edition of the China Securities Regulatory Commission’s industry classification standards,the equipment manufacturing industry was subdivided into six industries including the metal products industry for robustness testing and comparative analysis,and it is found that the intermediary effect of manufacturing servitization has only partial or even no intermediary effect in the six sub-industries,and the performance of the intermediary effect mechanism of each sub-industry varies greatly.In response to this difference,as well as the digital transformation of the equipment manufacturing industry as a whole and each sub-industry,and the low degree of servitization,this article proposes corresponding countermeasures and suggestions from the perspective of the equipment manufacturing industry as a whole and sub-industry.