| As the construction industry continues to embrace the digital age,innovative technologies such as Building Information Modeling(BIM),big data,virtual reality,and the Internet of Things(IoT)have become integral to firm development and performance enhancement.Driven by the forces of globalization and digitization,the industry is rapidly evolving towards a more efficient and streamlined future.However,it is important to acknowledge that there are potential shortcomings to the digital transformation process.Many mistakenly believe that the mere adoption of digital technologies is a foolproof solution,without fully understanding the underlying technological innovations and business model innovations required for sustained progress.While digital technology can certainly boost firm performance,it requires significant technological innovation capabilities to fully integrate and mobilize human and technological resources in the innovation process.Moreover,many firms tend to overlook the crucial role of business model innovation in the digital transformation process,focusing solely on the application of digital technology.Nonetheless,it is important to note that the inherent value provided by digital technology is limited,and its full potential must be realized through innovative business models.Based on resource-based theory,innovation theory,and corporate performance theory,this paper,combined with existing relevant literature and data from 35 listed firms in the construction industry from 2015 to 2020,empirically studies the relationship between digital construction level and firm performance,and explores the mediating effect of technological innovation capability and business model innovation between the two.The research results show that(1)digital construction level has a significant positive effect on firm performance.This result indicates that firms with high digital construction levels are often able to achieve better firm performance.Digital construction can help construction industry firms improve productivity,reduce project delays and cost overruns,improve safety,quality and resource efficiency,leading to better firm performance.Secondly,technological innovation capability plays a mediating role between digital construction and corporate performance.Firstly,there is a significant positive correlation between technological innovation capability and corporate performance,indicating that companies with high technological innovation levels are more likely to achieve significant performance.(2)there is a significant positive correlation between digital construction level and technological innovation capability,and companies with high digital construction levels can better interact with stakeholders,share knowledge and coordinate practices,thus promoting enterprise technological innovation capability.Finally,technological innovation capability plays a positive mediating role in the process of digital construction level promoting corporate performance.If enterprises want to fully utilize digital technology,they cannot do without technological innovation capability to integrate and mobilize human and technological advantages.(3)business model innovation plays a mediating role between digital construction and corporate performance.In recent years,digital technology has developed rapidly,and many enterprises have chosen to embrace it.However,digital technology does not have inherent value,and the application of digital technology alone cannot guarantee steady improvement in corporate performance.To achieve sustained improvement in corporate performance,enterprises need business model innovation to obtain competitive advantages. |
