The Impact of Smart Manufacturing on Firm Markup

NIU Ziheng; JIN Huan; LI Xinze

Volume 40 Issue 5

Sep. 2025

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NIU Ziheng, JIN Huan, LI Xinze. The Impact of Smart Manufacturing on Firm Markup[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(5): 78-90.

Citation:

NIU Ziheng, JIN Huan, LI Xinze. The Impact of Smart Manufacturing on Firm Markup[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(5): 78-90.

NIU Ziheng, JIN Huan, LI Xinze. The Impact of Smart Manufacturing on Firm Markup[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(5): 78-90.

Citation:

NIU Ziheng, JIN Huan, LI Xinze. The Impact of Smart Manufacturing on Firm Markup[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(5): 78-90.

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The Impact of Smart Manufacturing on Firm Markup

1.
School of Economics, Shandong University of Finance and Economics, Jinan 250014
2.
School of Economics, Nanjing University of Posts and Telecommunications, Nanjing 210023
3.
Center for Economic Research, Shandong University, Jinan 250100, China

Received Date: 2024-12-12
Available Online: 2025-10-25
Publish Date: 2025-09-28

Abstract

Abstract

The increase in the markup of manufacturing firms is an intuitive reflection of building a strong manufacturing nation. This paper takes the "Smart Manufacturing Pilot Demonstration Action" as a quasi-natural experiment to comprehensively evaluate the impact of smart manufacturing on firm markup. The study finds that smart manufacturing enhances firm markup by improving innovation capabilities and optimizing resource allocation, and the effect of smart manufacturing on markup is more pronounced for mature firms, state-owned enterprises, firms in industries with rapid technological change, and firms located in the central and eastern regions. Further discussion confirms that the higher the degree of a firm's digital transformation, the stronger the effect of smart manufacturing on enhancing firm markup. The conclusions of this study provide theoretical support for continuously advancing the intelligent transformation and upgrading of the manufacturing industry.
- smart manufacturing,
- firm markup,
- innovation capability,
- resource allocation optimization,
- digital transformation

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References(35)

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