Research On The Influence Of Digital Transformation On Innovation Performance Of Enterprises From The Perspective Of Financing Constraints

Globally,digital technology has penetrated into all walks of life,and the world economic landscape is being reconstructed.The 20 th National Congress of the Communist Party of China put forward that we should make every effort to promote the development of digital economy,accelerate the efficient combination of digital economy and real economy,and then create a digital industrial cluster that can compete with other countries on the same stage internationally.At present,digital technology is giving new impetus to China’s economic growth.The process of digitalization is accelerating,enterprise innovation depends more and more on technological innovation.Digital transformation makes the integration of data,information,intelligence and other elements accelerate significantly.At the same time,the innovation mode of enterprises is also changing constantly.Digital economy has become a new driving force for China’s economic growth,and China is about to enter the era of digital economy.Under the background of digital economy era,the development of digital economy must be based on the digital transformation of enterprises,and the digital transformation of enterprises will also have a direct impact on the sustained growth of national economy.High-quality development is always inseparable from innovation,and digital transformation is the key for enterprises to achieve innovative development.Under the background of China’s economic transition,focusing on improving enterprise innovation and innovation performance can provide empirical evidence for accelerating the process of digital transformation and improving the development of enterprise innovation performance,at the same time,it is conducive to the improvement of the government policy system,helping the government to clarify the policy direction in time and put forward corresponding development suggestions.In addition,enterprise innovation,as a capital intensive investment activity,has strong financing constraints.Maintaining the funds needed for enterprise innovation is the key to achieving the coordinated development of enterprise innovation.Through theoretical and empirical analysis,this paper studies the relationship between digital transformation and enterprise innovation performance in the context of financing constraints,hoping to provide feasible suggestions for enterprises and governments to support the development of science and technology innovation enterprises through empirical research.In order to study the specific impact of digital transformation on innovation performance and its influence mechanism more comprehensively,focusing on improving enterprise innovation and innovation performance can provide empirical evidence for accelerating the process of digital transformation and improving the development of enterprise innovation performance,by providing effective and feasible suggestions to help the government improve the policy system,the research value is very high.In addition,enterprise innovation,as a capital intensive investment activity,has strong financing constraints.Maintaining the funds needed for enterprise innovation is the key to achieving the coordinated development of enterprise innovation.Through theoretical and empirical analysis,this paper studies the relationship between digital transformation and enterprise innovation performance in the context of financing constraints,hoping to provide feasible suggestions for enterprises and governments to support the development of science and technology innovation enterprises through empirical research.Based on the above conclusions,this paper finally puts forward the corresponding policy recommendations.The government and regulatory authorities can formulate a policy system to encourage enterprises’ digital transformation,improve relevant laws and regulations,appropriately adopt preferential policies for inclusive finance and tax while encouraging the development of digital transformation,actively adopt government subsidies for enterprises in digital transformation,introduce funds,ease financing constraints,and promote innovation performance.For non-state-owned and non high-tech digital transformation enterprises,actively introducing special projects can not only broaden financing channels and reduce financing costs,thus actively promoting the company’s investment in R&D and innovation activities,and ultimately improving enterprise innovation performance.