数字化转型、供应链整合与制造业企业全要素生产率

Digital Transformation,Supply Chain Integration, and Total Factor Productivity of Manufacturing Enterprises

摘要

在全球新一轮科技革命与产业变革深入演进的背景下，数实深度融合在驱动我国经济结构转型、培育新质生产力方面发挥着不可替代的作用。随着数实深度融合的推进，数字化转型已成为我国经济高质量发展与企业成长提升的必然路径，其对制造业企业全要素生产率的影响值得深入研究，作用机制也有待进一步挖掘。论文采用2011—2023年沪深A股制造业上市公司数据样本，基于供应链整合的新视角，采用双向固定效应模型实证检验数字化转型与制造业企业全要素生产率之间的关系并分析其影响机制。研究发现：1）数字化转型能够显著促进制造业企业全要素生产率的提升，这一结论在一系列稳健性检验下仍然成立；2）作用机制检验结果表明，数字化转型能够通过提高供应链整合水平来提升制造业企业全要素生产率；3）数字化转型对制造业全要素生产率的影响存在异质性，在非国有性质、大规模及东部地区的制造业企业中，数字化转型对制造业全要素生产率的提升作用相对更显著；4）进一步研究发现，知识溢出和技术共享以及国家级大数据综合试验区政策能够强化数字化转型对制造业全要素生产率提升的促进作用。研究建议积极发展数字化转型战略，深化供应链整合支持体系，强化知识溢出与技术共享机制，同时应注重考虑不同企业群体特征，差异化实施数字化转型。

Abstract

Under the deepening global new round of technological revolution and industrial transformation, the deep integration of the digital and real economy plays an irreplaceable role in driving China's economic structural transformation and fostering new quality productive forces. With this integration advancing, digital transformation has become an inevitable path for high-quality economic development and for firms' growth and upgrading. Its impact on total factor productivity (TFP) in manufacturing enterprises warrants in-depth study, and the underlying mechanisms require further exploration. Using a sample of Shanghai and Shenzhen A-listed manufacturing firms from 2011 to 2023, and from a new perspective of supply chain integration, this study employs a two-way fixed-effects model to empirically test the relationship between digital transformation and manufacturing firms' TFP and to analyze the mechanism. The results show that: 1) digital transformation significantly promotes TFP improvement in manufacturing firms, and the conclusion remains valid under a series of robustness tests; 2) mechanism tests indicate that digital transformation improves manufacturing firms' TFP by enhancing the level of supply chain integration; 3) the effect is heterogeneous—digital transformation has a more pronounced TFP-enhancing effect among non-state-owned firms, large-scale firms, and firms in eastern China; and 4) further analysis finds that knowledge spillovers and technology sharing, as well as policies related to national big-data comprehensive pilot zones, strengthen the positive effect of digital transformation on manufacturing firms' TFP. Accordingly, the study recommends actively advancing digital transformation strategies, deepening support systems for supply chain integration, strengthening mechanisms for knowledge spillovers and technology sharing, and implementing differentiated digital transformation initiatives that account for differences across firm groups.

关键词

数字化转型 / 全要素生产率 / 供应链整合 / 制造业企业

Key words

digital transformation / total factor productivity / supply chain integration / manufacturing enterprises

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基金资助

国家自然科学基金项目(52460028)

贵州省哲学社会科学规划课题(24GZYB83)