Research On The Impact Of Digital Transformation To The Internalization Degree Of Companies In Productive Service Industry

According to the White Paper on the Development of China’s Digital Economy(2022)and the Statistical Bulletin of China’s Foreign Direct Investment in 2020,the penetration rate of the digital economy in the service industry ranks first among China’s three industries,and the productive service industry is also the main direction and strength of China’s enterprises’ foreign investment.The "14th Five Year Plan" for the High Quality Development of Foreign Trade,released in 2021,further regards "adhering to digital empowerment and accelerating digital transformation and development" as one of the basic principles for China’s foreign trade development in the next stage.In this context,the current situation of "going global" of China’s producer services enterprises is characterized by high investment and low revenue.In order to help China’s producer service industry enterprises become bigger and stronger,and go global to achieve stability and prosperity,this article focuses on the impact of digital transformation on the internationalization of producer service industry enterprises,with a view to providing useful reference for policy formulation and enterprise strategy selection.This article starts from the theoretical level and proposes research hypotheses through literature review and theoretical analysis.Secondly,based on the financial data of A-share producer services listed companies in China’s Shanghai and Shenzhen stock markets from 2007 to 2020,an OLS fixed effect model is established to empirically test the impact of digital transformation on the internationalization of producer services enterprises.On this basis,a mediation effect model is established to test the specific transmission mechanism of the impact;Using multiple methods for robustness testing to improve the reliability of research conclusions;And explore heterogeneity from four aspects: application technology,enterprise scale,enterprise ownership attributes,and enterprise location,in an effort to enrich research conclusions.Finally,supplemented by micro case analysis,through the collection and collation of public data from the case company Heimer Technology and field research interviews,we explore how digital transformation affects the internationalization of productive service industry enterprises in specific situations.The research finds that,first,the regression results of the OLS fixed effect model show that the significant coefficient of influence of the digital transformation of producer services enterprises on their degree of internationalization is positive,which validates the hypothesis of this article.The robustness test and endogenous test further confirm the above view.Secondly,the mechanism test shows that digital transformation can enhance the dynamic capabilities and signal effects of enterprises,thereby improving their internationalization.Thirdly,the results of heterogeneity analysis show that the impact of industrial internet technology is not significant,while the application of big data and cloud computing technology has a significant positive impact;The impact of digital transformation on small and medium-sized enterprises,state-owned enterprises,and enterprises in the eastern region is more significant.Fourth,the research conclusions of the case study indicate that the digital transformation has broadened the scope of its business and innovated the traditional business development model on the basis of improving the production efficiency of Heimer Technology,helping it establish and consolidate its competitive advantage and further explore overseas markets.The research conclusions of this article can provide some reference for the government to formulate relevant policies to support the digital transformation of enterprises,and for enterprises themselves to use digital technology to explore overseas markets.