Research On The Impact Of Digital Economy On Innovation Of Manufacturing Enterprises

In the current process of high-quality economic development,innovation has always been at the core of China’s modernization construction.The report of the 20 th National Congress of the Communist Party of China pointed out that we must adhere to the principle that technology is the first productive force,talent is the first resource,and innovation is the first driving force.We must deeply implement the strategy of revitalizing the country through science and education,strengthening the country through talent,and driving development through innovation,open up new fields and new tracks for development,and continuously shape new capabilities and advantages for development.The development of the real economy is the key to building a modern economic system,and the manufacturing industry is the main body of the real economy and an important foundation for building a modern economic power.Through innovative breakthroughs,the manufacturing industry can overcome the dual dilemma of high and low end blockades it is currently facing.Therefore,how to effectively improve the innovation level of manufacturing enterprises has become a focus of attention in the academic community.It is worth noting that in recent years,with the collective breakthroughs of new generation digital technologies such as big data and the Internet,the development of the digital economy has had a profound impact on the innovation activities of enterprises.The emergence of the digital economy not only reshapes the resource allocation and innovation environment of traditional innovation activities,but also has different dimensions of impact on the innovation ability of enterprises.Based on this,this article studies the impact of the development of the digital economy on the innovation of manufacturing enterprises,which has important theoretical and practical significance.This article first reviews the relevant research results between the digital economy and enterprise innovation,and on this basis,summarizes the internal mechanisms by which the digital economy affects the innovation ability of enterprises by enhancing knowledge spillover efficiency,improving market integration,strengthening market competition,and accurately matching consumer demand with enterprise product innovation.From the perspective of collaborative agglomeration between productive services and manufacturing industries,this paper elaborates on the indirect mechanism of the digital economy affecting enterprise innovation at the urban level,and proposes corresponding hypotheses.In the empirical testing section,this article measures the level of digital economy development in prefecture level cities from 2011 to 2019,matches data from A-share manufacturing listed companies in Shanghai and Shenzhen,and uses a bidirectional fixed effects model to first test the direct impact of digital economy development on enterprise innovation,including the overall improvement of enterprise innovation investment and innovation output.Then,from the perspective of heterogeneity of enterprise property rights,industry competition,city level,and enterprise geographical location,the impact of the development of the digital economy on the innovation of manufacturing enterprises is examined,and endogenous processing and robustness tests are conducted.The results are still robust.Finally,the mechanism variable of collaborative agglomeration between productive services and manufacturing industries was tested to verify the validity of the relevant conclusions.The following research conclusions are drawn in this article: firstly,the development of the digital economy will promote the improvement of the innovation level of manufacturing enterprises,and the impact of the digital economy on enterprise innovation input and output is equally significant.Secondly,in terms of mechanism,the development of the digital economy can promote the collaborative agglomeration of manufacturing and productive service industries by optimizing the innovation environment and strengthening information exchange between industries,thereby enhancing the innovation level of manufacturing enterprises through knowledge spillover effects and economies of scale effects.Thirdly,there is a "digital divide" at the enterprise level,where the digital economy has a greater promoting effect on the innovation level of non-state-owned enterprises than state-owned enterprises.This may be because compared to state-owned enterprises,non-state-owned enterprises are more willing and proactive in carrying out enterprise innovation activities in market competition.Fourthly,there is a "digital divide" at the industry level,which means that the development of the digital economy has a more significant improvement effect on the innovation activities of enterprises in competitive industries.Fifth,there is a "digital divide" at the regional level,which means that the development of the digital economy has a more significant impact on the innovation level of enterprises in general cities and central and western regions.This may be because the vigorous development of the digital economy can provide sufficient resources and improvement impetus for these enterprises’ innovation activities,and there is greater room for innovation effect improvement compared to key cities and the eastern region.Based on the above analysis,this article proposes the following policy recommendations: firstly,cities should accelerate the development of the digital economy,enhance the innovation driving effect of the digital economy,and then promote the innovative development of manufacturing enterprises;Secondly,further unleash the indirect effects of the development of the digital economy on improving the innovation level of manufacturing enterprises,promote cross industry information exchange and deep integration,and promote innovation of manufacturing enterprises by promoting collaborative agglomeration between productive service industries and manufacturing industries;Thirdly,fully activate the innovative vitality of manufacturing enterprises in the digital economy era,and overcome the differences in the nature of enterprise property rights;Fourthly,accelerate the role of the digital economy in promoting the innovation level of regulated industries,and overcome industry level differences;Fifth,further unleash the "digital dividend" of innovation in the eastern and key cities,focusing on overcoming regional differences.