Research On The Influence Of FDI On Digital Transformation Of Chinese Enterprises

In the era of digital economy,it is an important way to deepen the digital transformation of our manufacturing industry microentities by persisting in high-quality opening up.Since China joins WTO,foreign capital rushes into our country,the advanced technology and management experience which it brings to our modern enterprise development contributes tremendous impetus.With the further infiltration of FDI in our country,Chinese manufacturing industry is also facing development difficulties.In recent years,there are generally low level of digital subversion and insufficient ability of its own transformation phenomenon,the manufacturing industry has become difficult to produce timely and significant improvement in enterprise performance by its own ability.At this time,enhancing digital transformation ability through the introduction of FDI is an important way to improve the level of digital subversion.However,the cost of land,raw materials and other resources continues to rise,the demographic dividend gradually disappears,the uncertainty of the international situation continues to increase,and the competition effect of FDI and the spillover effect of technology are interweaving,leading to the deterioration of the external development environment of the manufacturing industry,which to some extent leads to the weakening of the digital transformation willingness of local manufacturing enterprises by FDI.Therefore,on the existing basis,it is very necessary and practical to study the influence of FDI on digital transformation of Chinese manufacturing enterprises to promote the development of Chinese economy with high quality.In order to explore the influence of FDI on the digital transformation of our manufacturing listed enterprises,this paper firstly presents related concepts and research of FDI and digital transformation,and analyzes the current situation of the introduction level of FDI in our country,the status quo of digital transformation of listed enterprises in the manufacturing industry and the difficulties they face.It explains the influence of FDI on Chinese manufacturing enterprises and its mechanism from the aspects of technology spillover theory,open innovation theory and organizational learning theory.Secondly,based on the FDI penetration level of Chinese prefecture-level cities during 2011-2021,this paper constructs an evaluation system of enterprise digital transformation index from the perspective of strategic leadership,technology drive,organizational empowerment,enterprise digital achievements and applications,and medium and macro environmental support.By means of quantitative analysis,it explores FDI’s influence on the digital transformation of Chinese manufacturing listed enterprises and studies its influence path.Based on the theoretical basis,current situation analysis and empirical analysis,this paper draws the following conclusions:(1)FDI plays a significant driving role in the digital transformation of Chinese listed manufacturing enterprises.This conclusion is still reliable after considering the endogenous problems and a series of robustness tests;(2)According to the heterogeneity analysis,the digital transformation of foreign-funded enterprises,private enterprises,high-tech manufacturing industry and enterprises in the central and western regions is more significantly driven by FDI;(3)Mechanism test shows that FDI’s driving effect on the digital transformation of listed manufacturing enterprises can be achieved by restraining the short-sighted behavior of the management,improving the innovation ability of enterprises and easing the financing constraints of enterprises.Therefore,enterprises should make full use of the positive role played by FDI and make it an important starting point to help enterprises complete the digital transformation.Enterprises should also pay full attention to the strategic leadership in the process of digital transformation,innovation ability in key areas,to catch up with the pace of the "digital revolution" in developed countries;Government departments should comply with the trend of rapid development of digital economy,protect the rights and interests of foreign investment in accordance with the law,create a good business environment for foreign investment,encourage foreign investment to actively participate in the construction of digital economy in China,help the digital transformation of Chinese manufacturing industry,improve its level of digital subversion.