Research On The Influence Of Digital Transformation On Enterprise Innovation Performance

Digital transformation strategy is the inevitable choice for enterprises to realize transformation and upgrading,improve innovation performance,maintain competitive advantage and sustainable development.The application of digital technology strengthens the ability of cross-border search and knowledge reorganization of enterprises,optimizes the business process of enterprises,and promotes rapid and effective innovation within enterprises.In today’s new competitive era of digital reshaping the world development pattern,accelerating digital development,fully releasing data vitality,building an innovative system for developing digital productivity and creating new advantages of digital economy have become the strategic priorities of the country.Enterprises are the main innovation units in the economy and society.Therefore,based on the listed manufacturing enterprises in China from 2011 to 2020,this paper studies the influence effect and possible mechanism of digital transformation on innovation performance based on micro-data of enterprises.Specifically,the full text includes the following contents:(1)According to the information asymmetry theory and the principal-agent theory,from the perspective of alleviating the cost limitation and reducing the degree of information asymmetry,the theoretical framework of digital transformation with internal control as the intermediary mechanism and digital transformation with slack resources as the regulating mechanism affecting innovation performance is tentatively constructed.On this basis,relevant research hypotheses are put forward;(2)The entropy weight method is used to measure the level of digital transformation,and OLS model is used to estimate the direct effect of digital transformation on innovation performance;(3)Test the robustness of the estimation results by using three methods: substitution variables,tail shrinking processing and lagging explanatory variables;(4)Using the mediation effect model to empirically explore the mediation effect of internal control in the influence of digital transformation on innovation performance;(5)Using the moderating effect model to explore how the slack resources act on the moderating effect of digital transformation on innovation performance;(6)Combined with the research conclusions,put forward relevant policy suggestions.The empirical study draws the following main conclusions: First,the digital transformation is positively related to the innovation performance of enterprises;Secondly,digital transformation is positively related to the effectiveness of internal control.The higher the level of digital transformation,the better the effectiveness of internal control.Third,the internal control of enterprises is the intermediary mechanism that digital transformation affects innovation performance;Fourth,slack resources will weaken the positive relationship between digital transformation and innovation performance.Based on the research conclusions,this paper puts forward the following policy suggestions:(1)Enterprises should attach great importance to digital transformation.On the one hand,enterprises should strengthen the digital thinking of managers and improve their cognition of digital transformation.On the other hand,we should pay attention to cultivating and absorbing talents with digital transformation.(2)Enterprises should strengthen the penetration of digital applications,establish an internal control management system suitable for their own enterprises,and stimulate the innovation enthusiasm of employees.(3)Enterprises should be sensitive to the changes of slack resources,respond to the changes in time,and make rational use of slack resources according to the changes of slack resources.(4)For the government,on the one hand,it is necessary to formulate specific normative internal control documents and targeted supervision policies;On the other hand,it is necessary to promote digital construction according to regional characteristics.The innovation of this paper is reflected in the following three points:(1)The results of this study show that the internal control of enterprises is the intermediary mechanism of digital transformation on innovation performance.This paper explains the internal mechanism of the influence of digital transformation on enterprise innovation performance from the perspective of internal control,which provides a new research perspective for innovation management scholars to study enterprise innovation performance in the digital age;(2)This paper summarizes the results of digital transformation of Chinese manufacturing enterprises from an empirical point of view,and tries to further summarize the general management rules of digital transformation;(3)In this paper,slack resources,a variable at the enterprise level,are brought into the research framework,and the influencing conditions of digital transformation and innovation performance are investigated,which further enriches the research content of digital transformation.