Research On The Impact Of Digital Economy On Total Factor Productivity Of Enterprises

At present,the scale of my country’s digital economy is expanding rapidly,and the external environment faced by enterprises has undergone great changes.In this context,whether the digital economy can improve the total factor productivity of enterprises,and how enterprises can use the digital economy to improve their total factor productivity have become issues worthy of study.Based on the non-exclusivity,spatial spillover,and spillover characteristics of the digital economy,this thesis analyzes the direct impact of the digital economy on the total factor productivity of enterprises,through the indirect impact of enterprise innovation capabilities,transaction costs and human capital,as well as entrepreneurship and financial The adjustment effect of the structure and the corresponding theoretical hypotheses are put forward;Next,this thesis measures the development level of the digital economy in each city and the total factor productivity of A-share listed companies from 2011 to 2019.Check accordingly.The research found that the development of the digital economy can significantly improve the total factor productivity of enterprises.This conclusion still holds after a series of robustness tests such as endogeneity test,replacement of explained variables and explanatory variables,and elimination of digital industries.In terms of heterogeneity test results,the digital economy has a more obvious role in promoting the total factor productivity of large enterprises,nonstate-owned enterprises,enterprises in the northern region,and enterprises in competitive industries.In terms of influence mechanism,the digital economy can effectively promote the improvement of the total factor productivity of enterprises by improving the innovation ability of enterprises,reducing the transaction costs of enterprises,and improving the level of human capital of enterprises.Entrepreneurship and financial structures help the digital economy work.The conclusion of this thesis explains the policy implications of the government’s development of the digital economy,and provides corresponding suggestions for enterprises to achieve highquality development.