Research On The Impact Of Digitalization And Business Model Innovation On Corporate Performanc

At present,the digital economy has become the most important economic form in the world,and it is also the future development direction.The total amount of China’s manufacturing industry has ranked first in the world for many years,but the degree of digitalization is not high.Therefore,digital transformation is crucial for the manufacturing industry.Digitalization can accurately locate customer needs,innovate transaction methods,and optimize operational processes to promote business model innovation.Business model innovation is conducive to reducing costs and increasing efficiency,reducing transaction risks,and broadening business boundaries,thereby promoting corporate performance.Under this circumstance,exploring the impact of digitalization and business model innovation on enterprise performance has far-reaching significance for the future development of manufacturing enterprises.This paper selects the panel data of A-share listed manufacturing companies in Shanghai and Shenzhen stock exchanges from 2011 to 2020,establishes a fixed effect model,empirically tests the impact of digitalization on corporate performance,and whether business model innovation plays an intermediary role in the impact of digitalization on corporate performance.The empirical results show that with the continuous improvement of the level of digitization,the performance of enterprises has been improved,and both novel and efficient business model innovations have played an intermediary role in the promotion of enterprise performance by digitization.Further,this paper selects Sany Heavy Industry Co.,Ltd.as the case study object.On the basis of selecting conventional performance evaluation indicators,combined with the characteristics of construction machinery manufacturing industry,some indicators with industry characteristics are selected.This paper makes a horizontal and vertical comparative analysis of the corporate performance of Sany Heavy Industry Co.,Ltd.before and after digitalization and business model innovation from both financial and non-financial perspectives.The longitudinal analysis results show that digitalization helps enterprises to adjust strategies,enhance the ability of intelligent manufacturing,achieve cost reduction and efficiency increase,improve profit level,further increase market share,and have a positive impact on enterprise performance.The results of horizontal analysis show that the corporate performance of Sany Heavy Industry Co.,Ltd.and Zoomlion Co.,Ltd.have both improved after the implementation of digitalization.However,due to the more thorough digitalization of Sany Heavy Industry,it can more accurately locate customer needs,innovate transaction methods,and optimize transaction processes,which has a greater impact on business model innovation,and its overall corporate performance is also better than Zoomlion.The company’s industry position was further consolidated.Finally,based on the results of empirical and case studies,this paper puts forward the following suggestions on how to carry out digital transformation of manufacturing enterprises:first,to accelerate digital transformation by creating digital transformation benchmarks,strengthening employees’ digital thinking,and strengthening cooperation with the government;second,fully Use digitization to integrate resources,locate market demands,and optimize production and operation processes to promote business model innovation.