Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China

This study uses text mining technology to construct an index of digital transformation and discusses the impact of digital transformation on enterprise innovation and its mechanisms from theoretical and empirical perspectives. It also analyzes whether digital transformation can significantly enhance...

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Veröffentlicht in:Journal of innovation & knowledge Jg. 8; H. 1; S. 1 - 15
Hauptverfasser: Liu, Meiyu, Li, Chengyou, Wang, Shuo, Li, Qinghai
Format: Journal Article
Sprache:Englisch
Veröffentlicht: Amsterdam Elsevier 2023
Elsevier España, S.L.U
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ISSN:2444-569X, 2444-569X
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Abstract This study uses text mining technology to construct an index of digital transformation and discusses the impact of digital transformation on enterprise innovation and its mechanisms from theoretical and empirical perspectives. It also analyzes whether digital transformation can significantly enhance enterprises' value through innovation. The findings are presented as follows: first, digital transformation has a positive and significant impact on enterprise innovation, and this finding holds true when we conduct robustness testing and endogeneity processing. Second, the influence of digital transformation on enterprise innovation varies significantly according to enterprise size, ownership, and industry. Third, risk-taking plays an intermediary role between digital transformation and innovation. Fourth, the innovation incentive effect of digital transformation has a value enhancement function with a two-year lag, while it lacks a value enhancement function in the current year, following year, or next three years. In the modern era of innovation-driven and cross-border integration, this study deepens the theoretical understanding of innovation-driven and digital transformation. It also promotes the deeper integration of real and digital economies in practice.
AbstractList This study uses text mining technology to construct an index of digital transformation and discusses the impact of digital transformation on enterprise innovation and its mechanisms from theoretical and empirical perspectives. It also analyzes whether digital transformation can significantly enhance enterprises’ value through innovation. The findings are presented as follows: first, digital transformation has a positive and significant impact on enterprise innovation, and this finding holds true when we conduct robustness testing and endogeneity processing. Second, the influence of digital transformation on enterprise innovation varies significantly according to enterprise size, ownership, and industry. Third, risk-taking plays an intermediary role between digital transformation and innovation. Fourth, the innovation incentive effect of digital transformation has a value enhancement function with a two-year lag, while it lacks a value enhancement function in the current year, following year, or next three years. In the modern era of innovation-driven and cross-border integration, this study deepens the theoretical understanding of innovation-driven and digital transformation. It also promotes the deeper integration of real and digital economies in practice.
ArticleNumber 100332
Author Wang, Shuo
Li, Chengyou
Liu, Meiyu
Li, Qinghai
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  givenname: Shuo
  surname: Wang
  fullname: Wang, Shuo
– sequence: 4
  givenname: Qinghai
  surname: Li
  fullname: Li, Qinghai
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Enterprise innovation
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C23
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Risk-taking
Enterprise value
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SubjectTerms C23
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Digital transformation
Enterprise innovation
Enterprise value
L86
Risk-taking
Title Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China
URI https://www.econstor.eu/handle/10419/327244
https://dx.doi.org/10.1016/j.jik.2023.100332
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