The Impact Of Digitalization Of Manufacturing Enterprises On Financial Performanc

Under the background of the further development of industry 4.0,China actively explores the innovation mode of the development of traditional manufacturing industry,and the development of enterprise digitization provides a new method for this.In recent years,the driving effect of enterprise digitization has gradually become the focus of research,but there are still some problems such as difficult measurement and unclear mechanism.Based on the digital economy theory,innovation system theory and value chain theory,this paper makes comprehensive use of empirical analysis and case study research methods to realize the measurement and mechanism analysis of enterprise digitization.In this empirical study,through the induction and sorting of literature and theories,innovatively using the gray correlation analysis method to accurately measure the degree of enterprise digitization,and comprehensively analyze the spatio-temporal evolution characteristics of Chinese enterprise digitization development.Based on this,the panel data of listed manufacturing enterprises in Jiangsu Province from 2015 to 2021 are used to clarify the effect of enterprise digitalization on financial performance.In this case study,based on the theoretical principles of empirical research,through the typical case analysis of Hengli Hydraulic,in-depth analysis of the mechanism and path of enterprise digitalization affecting financial performance,for the potential risks of enterprise digitalization development,and innovative analysis of the degree of enterprise digitalization development from the level of noncurrent assets and government subsidies.The empirical study and case study complement each other,which ensure the universality of the mechanism test conclusion and make up for the particularity of typical case study.This paper uses case studies to refine the mechanism analysis of digitalization affecting financial performance,which makes up for the regret that the empirical research can not deeply discuss the enterprise digitalization measures.The findings of this paper are as follows: First,the gap problem of enterprise digital development is obvious,and the development speed of high-development areas appears to slow down;Second,enterprise digitization can promote the improvement of financial performance,and the promotion effect is heterogeneous among different industries and regions.Thirdly,there is a threshold effect on production cost and period expense when enterprise digitization affects financial performance.Fourthly,enterprise digitization can improve financial performance by increasing enterprise innovation input and strengthening R&D intensity.Based on the above conclusions,this paper puts forward specific suggestions in three aspects: policy making,enterprise strategy and higher education.