The Impact of Corporate Digital Transformation on Innovation Efficiency: Evidence from Chinese Listed Companies

Main Article Content

Binyang Gong
College of Transport & Communications, Shanghai Maritime University, Shanghai 201306, China

DOI: https://doi.org/10.70267/icrafm.202617143153

Keywords

digital transformation, innovation efficiency, financing constraints, total factor productivity (TFP)

Abstract

Innovation is an important factor affecting the sustainable competitiveness of enterprises, but many enterprises face the problem of low innovation efficiency, and digital technology provides a path to improve the innovation efficiency of enterprises. Based on the data of China's A-share listed companies from 2012 to 2022, this article explores the impact of enterprise digital transformation on innovation efficiency and its mechanism. The study found that digital transformation can improve the innovation efficiency of enterprises, and this conclusion is still valid after passing a series of robustness tests; Mechanism analysis shows that the corporate digital transformation can alleviate financing constraints and enhance total factor productivity, thus improving the innovation efficiency of enterprises; Heterogeneity analysis shows that this effect is more prominent in state-owned enterprises, large-scale enterprises, mature enterprises and highly competitive industries. This article expands the study of the economic consequences of digital transformation from the perspective of innovation efficiency, and provides empirical evidence and policy implications for enterprises to promote digital strategies and improve the efficiency of innovative resource allocation.

Abstract 25 | PDF Downloads 10

References

  • [1] Huang, Q., Yu, Y., & Zhang, S. (2019). Internet development and productivity improvement in manufacturing: Internal mechanisms and evidence from China. China Industrial Economics, 8, 5–23. https://doi.org/10.19581/j.cnki.ciejournal.2019.08.001
  • [2] Xiao, X., & Qi, Y. (2019). Value dimensions and theoretical logic of industrial digital transformation. Reform, 8, 61–70.
  • [3] Qi, H., Cao, X., & Liu, Y. (2020). The impact of the digital economy on corporate governance: Perspectives of information asymmetry and managerial irrational behavior. Reform, 4, 50–64.
  • [4] Yu, B., & Yang, G. (2024). The impact of corporate digital transformation on innovation efficiency. Journal of Southwest Minzu University (Humanities and Social Sciences Edition), 45(3), 80–92.
  • [5] Feng, G., & Wen, J. (2008). An empirical analysis of the relationship between corporate governance and technological innovation in Chinese listed companies. China Industrial Economics, 7, 91–101. https://doi.org/10.19581/j.cnki.ciejournal.2008.07.009
  • [6] Lu, X., & Lian, Y. (2012). Estimation of total factor productivity of Chinese industrial enterprises: 1999–2007. China Economic Quarterly, 11(2), 541–558. https://doi.org/10.13821/j.cnki.ceq.2012.02.013
  • [7] Ju, X., Lu, D., & Yu, Y. (2013). Financing constraints, working capital management, and the sustainability of corporate innovation. Economic Research Journal, 48(1), 4–16.
  • [8] Wu, F., Hu, H., Lin, H., & Ren, X. (2021). Corporate digital transformation and capital market performance: Evidence from stock liquidity. Management World, 37(7), 130–144, 10. https://doi.org/10.19744/j.cnki.11-1235/f.2021.0097

Article Sidebar

Full Text
PDF
Information
Copy Publication Information
Published
Oct 19, 2026
Conference Proceedings Volume
Vol. 17 (2026): Proceedings of the International Conference on Research in Accounting, Finance and Management (ICRAFM 2026)
Section
Articles
Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

Gong, Binyang. “The Impact of Corporate Digital Transformation on Innovation Efficiency: Evidence from Chinese Listed Companies”. Exploring Science Academic Conference Series, vol. 17, Oct. 2026, pp. 143-5, https://doi.org/10.70267/icrafm.202617143153.