Digital Technology Change And Entrepreneurial Orientation

With the popularization and application of digital technologies,the digital economy has become the new driving force in China.In terms of the micro-level,increasingly enterprises begin to think about how to seize the "digital dividend" in the digital wave to achieve high-quality development.Therefore,digital technology change has become the popular topic in strategic management.However,existing literature still lacks a mechanistic analysis of the impact of digital technology change on strategic orientation choices,especially the impact mechanism of digital technology change on entrepreneurial orientation is not yet clear.Does digital technology change influence entrepreneurial orientation? What are the differences in entrepreneurial orientation among firms with varying degrees of digital technology change? How can digital technology change help enterprises conduct entrepreneurial orientation? How can the external environment and firm resources regulate the relationship between digital technology change and entrepreneurial orientation during this process? These issues need further exploration.In order to answer the above questions,in terms of theoretical analysis,based on the perspective of dynamic capabilities,this article focused on the impact mechanism of digital technology change on entrepreneurial orientation.And it is identified that shaping the ability to search for demand information and knowledge information plays the critical role.On the one hand,as the degree of digital technology change deepens,firms have a deeper understanding,and the efficiency and cost of processing information are optimized,thereby enhancing the ability to search for demand information.On the other hand,digital technology can help firms expand the approaches to knowledge learning,help them update existing knowledge and technology,and thus strengthen their ability to search for knowledge.In addition,this paper also considers the impact of external environment and firm resources on dynamic capabilities development,and introduces the regulatory effects of industry competition,industry asset structure,R&D investment,market value and firms’ life cycle.In terms of empirical analysis,taking Chinese listed companies as the research object,this article uses CSMAR and Win Go as the data source.It empirically analyzes the impact of digital technology change on entrepreneurial orientation,as well as the degree of industry competition,industry asset structure,enterprise R&D investment The moderating effect of market value and enterprise life cycle.This article finds that:(1)at the 1% significance level,the level of entrepreneurial orientation of a firm increases with its degree of digital technological change;(2)the degree of industry competition and asset structure significantly enhance the positive impact of digital technology change on entrepreneurial orientation;(3)the R&D investment and market value also significantly enhance the positive impact of digital technology change on entrepreneurial orientation;(4)the different stages of a company’s lifecycle also have a significant impact on the relationship between digital technology change and entrepreneurial orientation.This paper contributes by exploring the impact of digital technology change on entrepreneurial orientation with the theoretical and empirical analysis.These findings enrich our understanding of the impact mechanism and consequences of digital technology change on entrepreneurial orientation,which is significant for scenario study.