Research on the Impact of Digital-Real Industrial Technology Integration on the Development of New Quality Productive Forces in Enterprises
Main Article Content
Keywords
digital-real industrial technology integration, new quality productive forces in enterprises, financing constraints, innovation efficiency, operational efficiency
Abstract
This study, based on data from 2015-2024 regarding digital-real industrial technology integration and samples of new quality productive forces in Shanghai and Shenzhen A-share listed enterprises, systematically examines the impact effects, influencing mechanisms, and heterogeneity characteristics of digital-real industrial technology integration on the development of new quality productive forces in enterprises. The research finds that digital-real industrial technology integration can significantly promote the development of new quality productive forces in enterprises; this impact is primarily achieved through three mechanism pathways: alleviating corporate financing constraints, enhancing innovation efficiency, and improving operational efficiency. Heterogeneity tests further reveal that the influence of digital-real industrial technology integration on the development of new quality productive forces in enterprises exhibits distinct differences at the enterprise, regional, and industry levels. At the enterprise level, technology-intensive, labor-intensive, and high-profit enterprises are more likely to foster the development of new quality productive forces through digital-real industrial technology integration. At the regional level, enterprises in the southern region and economically underdeveloped areas derive greater benefits from digital-real industrial technology integration. At the industry level, enterprises in high-tech sectors and those with high degrees of monopoly are better positioned to achieve the development of new quality productive forces through digital-real industrial technology integration. The study demonstrates that digital-real integration can promote the development of new quality productive forces in enterprises by alleviating financing constraints and elevating innovation and operational efficiency, while exhibiting heterogeneity effects at the enterprise, regional, and industry levels. These findings expand the theoretical connotations of the digital economy and high-quality development, providing empirical evidence and decision-making references for enterprises’ differentiated transformations, governments’ targeted policies, and optimized resource allocation.
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