The Impact Of Manufacturing Digitalization On Enterprise Innovatio

Innovation-driven is to make innovation the first driving force to lead development,improve the efficiency of the use of various factors of production through technological change,so as to achieve the intensification of production,intelligent management and conservation of consumption,and promote the sustainable and healthy development of China’s economy and society by improving the overall production efficiency.The report of the 20 th Party Congress clearly points out that innovation plays a central role in the overall situation of China’s modernization.Only by adhering to innovation as the first driving force can we promote high-quality development in China and shape new advantages in our international cooperation and competition.China’s manufacturing enterprises are still facing many problems such as weak industrial innovation capacity,insufficient independent mastery of key technologies,low efficiency in the transformation of industrial basic research investment and output,and poor market application mechanism of innovation achievements,etc.Therefore,it is urgent to optimize the change of traditional manufacturing innovation system to improve innovation capacity,and in the era of digital economy,both from the supply side perspective of industrial production efficiency improvement It can be seen that the intelligent level of manufacturing production is the key factor to realize the transformation and upgrading of China’s manufacturing industry and improve the quality and efficiency,which is extremely important to build the international core competitiveness of China’s manufacturing industry.It can be said that the digital and intelligent transformation of manufacturing industry is the inevitable choice and natural path for China to achieve the goal of "big manufacturing country" to "strong manufacturing country".Therefore,it is of great theoretical and practical significance to study the impact of digital transformation of manufacturing enterprises on innovation and what are the corresponding influencing factors.This paper analyzes the relationship between digital transformation and innovation of manufacturing enterprises from four theoretical aspects,i.e.,business expectations,productivity,financing constraints and bankruptcy risk,and also analyzes the heterogeneity of property rights,scale heterogeneity and industry heterogeneity in the impact of digital transformation on innovation performance of enterprises,taking the data of listed manufacturing enterprises from 2010 to 2020 as samples.We also analyze the heterogeneity of property rights,scale heterogeneity,and industry heterogeneity of the impact of digital transformation on firms’ innovation performance,and also propose several hypotheses respectively.Secondly,the empirical analysis part firstly measures the degree of digital transformation through textual analysis,and measures the innovation performance of enterprises by the number of patent applications.In the robustness test,four aspects are tested,including lagging the digital transformation indicator by one period to solve the possible endogeneity problem,using the number of joint patent applications as a replacement variable for innovation,conducting the Heckman two-stage test,and using the propensity matching score method to further ensure the robustness of the findings.The results of the study found that digital transformation can significantly promote the innovation performance of manufacturing firms;further studies showed that the promotion effect of digital transformation on innovation performance is more significant in non-state than state owned enterprises in China,and the promotion effect of large enterprises on innovation performance is more significant than small scale enterprises;the robustness test of this paper also showed that the findings are very robust and have the reliability of the conclusions.Finally,it is pointed out that digital transformation is an effective path for manufacturing enterprises to improve innovation performance,and the government should guide and support the digital transformation of manufacturing enterprises,while the enterprises should develop corresponding transformation strategies,increase digital resource investment and improve the level of collaboration of digital resources in their own situation.