Research On The Impact Of Digital Investment On Enterprise Performance In Manufacturing Enterprises

Powered by advanced digital technologies such as cloud computing,big data and the Internet of Things,the digital economy is profoundly influencing the economic and social development.As an important form of economic development in the new era,the digital economy is reshaping the competitive landscape of countries around the world.Facilitating the development of digitalization and digital industrialization of industries and promoting themutual integration of digital economy and real economy are important directions of economic development in the world today.Digital manufacturing is produced in the background of the digital economy era,and is an important way to transform and upgrade the traditional manufacturing industry.Its connotation refers to the digitalization of the manufacturing field,which is the result of the development and application of digital technologies,and is the future development trend of the manufacturing field.As an important pillar of the real economy,the manufacturing industry is also the foundation of a prosperous and strong country.It is inevitable for manufacturing enterprises to increase digital investment and accelerate the pace of digital.transformation for the development of digital manufacturing.At present,there is a lack of knowledge and understanding of digital investment in manufacturing enterprises in both academic and practical circles.Although some scholars have researched and discussed how digital investment affects enterprise performance,the impact of digital investment on enterprise performance,influence mechanism and applicable situation are not completely clear,and need to be further researched and discussed.This thesis selects data related to digital investment and enterprise performance disclosed in the public annual reports of A-share listed manufacturing enterprises in China from 2015 to 2020 to research the effect,influence mechanism and applicable situation of digital investment in manufacturing enterprises on enterprise performance.This thesis finds that:(1)Digital investment in manufacturing enterprises significantly improves enterprise performance by increasing the competitive ability and innovation efficiency of enterprises.(2)The knowledge stock of manufacturing enterprises positively affects the effect of digital investment on the improvement of enterprise performance.(3)The strategic differentiation of manufacturing enterprises positively affects the effect of digital investment on the improvement of enterprise performance.(4)Classify the data according to the property rights,regional distribution and whether it is a high-tech enterprise,and conduct heterogeneity tests.The empirical results found that digital investment in private enterprises,enterprises in the eastern region and high-tech enterprises is more effective in improving enterprise performance.This thesis responds to the economic development trend and meets the hot topics of the industry.This thesis studies the effect,influence mechanism and applicable situation of digital investment in manufacturing enterprises on enterprise performance.Based on the above research conclusions,this thesis puts forward relevant suggestions in terms of national policy and regulation at the macro level,as well as enterprise understanding,talent and strategy at the micro level.The research and discussion of the above issues enrich the theoretical research on digital investment and enterprise performance,provide support and suggestions for the policy regulation and business practice of digital investment in manufacturing enterprises,and help manufacturing enterprises to better carry out digital investment and transformation,which has theoretical and practical significance.