| The 20th Party Congress report pointed out that we should "accelerate the development of digital economy and promote the deep integration of digital economy and real economy".In recent years,our government has always emphasized the importance of putting innovation at the core of the overall development of manufacturing industry,promoting cross-sectoral and cross-industry collaborative innovation,breaking through a number of key common technologies in key areas,promoting the digitalization,networking and intellectualization of manufacturing industry,and taking the path of innovation-driven development.During the construction of "Digital China",whether the improvement of digitalization level can help manufacturing enterprises to develop with high quality and realize the effective integration of production and operation activities with digitalization,so as to promote the improvement of innovation performance,is a common concern of China’s governmental decision-making level and academic circles.Therefore,it is of great theoretical value and practical significance to analyze the influence of digitalization level on the innovation performance of manufacturing enterprises.Firstly,this paper refers to the existing literature and compares the relationship between digitalization level and innovation performance,as well as the influence of government subsidies and sunken redundant resources on the relationship between the two,and combines technological innovation theory,Solow’s paradox,market failure theory and resource-based theory to provide theoretical support for the research analysis of this paper.Secondly,this paper conducts a theoretical analysis of the impact of digitalization level on the innovation performance of enterprises,and proposes a research hypothesis,determines the way of variable measurement and constructs a research model.Finally,this paper uses Stata15.1 to empirically test the relationship between digitization level and innovation performance of manufacturing listed companies based on data related to manufacturing companies listed in Shanghai and Shenzhen A-shares from 2017-2021,as well as the influence of government subsidies and sedimentary redundant resources on the relationship between the two.The results show that first,there is a positive relationship between digitization level and innovation performance of listed manufacturing companies,i.e.,the improvement of digitization level can promote the improvement of innovation performance of listed manufacturing companies.Second,government subsidies play a positive moderating role on the relationship between digitization level and innovation performance of manufacturing listed companies.Third,sedimentary redundant resources play a negative moderating role on the relationship between digitization level and innovation performance of manufacturing listed companies.Combining the results of theoretical research and empirical analysis,this paper puts forward corresponding countermeasures and suggestions from both government and enterprise levels.For the government,it should improve the infrastructure and system construction to help the digital transformation,upgrading and high-quality development of the manufacturing industry.At the same time,it should improve the incentive and guidance mechanism to provide diversified financial support for the healthy development of manufacturing industry.Finally,it is necessary to play the role of government-led and market main body to optimize the way of resource allocation.For manufacturing enterprises,firstly,they should accelerate the implementation of digital development strategy and improve the level of digital development of enterprises;secondly,they should reasonably obtain and use government subsidies to reduce the risk of innovation and development of enterprises;again,they should fully explore potential advantageous resources and improve the level of enterprise resource synergy. |
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