| Digitalization of enterprises is a basic focus point for enlarging new dynamic energy for economic development and promoting high-quality economic development.This paper portrays the degree of development of digitalization at the enterprise level through textual analysis of capital operation information of Chinese A-share listed companies from 2007 to2019,further constructs an index system for high-quality economic development and measures it by integrating the longitudinal and horizontal pull-out gearing method and BP neural network algorithm.Besides,the mechanism of enterprise digitalisation through the optimisation of human capital structure,the improvement of data resources integration and the improvement of capital market operation efficiency was empirically tested.The study found that:(1)The digitalization of our enterprises and the high quality development of our economy have both improved over the period 2007-2019,and the respective inter-regional gaps have shown a gradual reduction;(2)The impact of enterprise digitalization on economic quality development is positive and significant,and this conclusion still holds after endogeneity and robustness tests;(3)The intermediary mechanism test shows that the digitalization of enterprises can contribute to high-quality economic development by optimizing the level of human capital,enhancing the integration of data resources and improving the operational efficiency of capital markets but the capital regulation dimension of the improvement of the operational efficiency of capital markets fails the test,probably because the digital technology on which capital regulation is based has not yet fully matured;(4)Regional heterogeneity analysis shows that the impact of enterprise digitalization on high-quality economic development is more obvious in Chengdu-Chongqing,Yangtze River Delta and Beijing-Tianjin-Hebei city clusters;industry technology heterogeneity shows that the level of enterprise digitalization in both high-tech and low-and medium-tech industries contributes to high-quality economic development.Industry technology heterogeneity shows that the digitalization level of enterprises in both high-tech and medium-and low-tech industries contributes to high-quality economic development,but the contribution of high-tech industries is more significant.Based on the above findings,this paper puts forward the following policy recommendations:enterprises should promote the process of credit data and digital assets,focus on the introduction of adaptive talents,and explore the value of data under the premise of fully ensuring data security;the government should accelerate technological research and talent training,give full play to the role of data elements in driving high-quality economic development,and establish a diversified capital market environment to provide new momentum for achieving higher levels of high-quality economic development. |
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