Digital Transformation, Innovation-driven Development and High-quality Development of the Manufacturing Value Chain

QI Ping; SONG Wei-hui

Volume 39 Issue 1

Jan. 2024

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QI Ping, SONG Wei-hui. Digital Transformation, Innovation-driven Development and High-quality Development of the Manufacturing Value Chain[J]. Journal of Guangdong University of Finance & Economics, 2024, 39(1): 4-18.

Citation:

QI Ping, SONG Wei-hui. Digital Transformation, Innovation-driven Development and High-quality Development of the Manufacturing Value Chain[J]. Journal of Guangdong University of Finance & Economics, 2024, 39(1): 4-18.

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Digital Transformation, Innovation-driven Development and High-quality Development of the Manufacturing Value Chain

School of Economics, Jilin University, Changchun 130015, China

Received Date: 2023-10-21
Available Online: 2024-01-30
Publish Date: 2024-01-28

Abstract

Abstract

In the context of innovation-driven development strategy, the digital transformation of enterprises is of great significance to the high-quality development of the manufacturing value chain. Using the data of manufacturing listed companies in the Shanghai and Shenzhen A-share markets from 2007 to 2021, this paper conducts theoretical analysis and empirical testing to analyze the direct impact of digital transformation on the high-quality development of the manufacturing value chain, the indirect mechanism of innovation-driven development, and the multi-level heterogeneity from double perspectives of "strengthening chain" and "extending chain". The results indicate that digital transformation of enterprises can promote high-quality development of the manufacturing value chain in both "strengthening chain" and "extending chain". And this conclusion has not changed after a series of robustness tests. The mechanism test indicates that the innovation-driven development of enterprises has a significant positive transmission effect in promoting high-quality development of the manufacturing value chain. The heterogeneity analysis at the micro, medium and macro levels indicates that in non-state-owned enterprises, technology-intensive industries, labor-intensive industries and innovation-leading cities, the digital transformation of enterprises has a more remarkable effect in promoting the high-quality development of the manufacturing value chain by "strengthening chain" and "extending chain". Therefore, at the macro level of cities, efforts should be made to develop the urban governance system of digital transformation. At the meso level, "new infrastructure construction" in industries should be boosted so as to promote balanced digital development in industries. At the micro level, leading enterprises are encouraged to lead the laggards and to collaborate with them for coordinated development, improving quality and raising efficiency of corporate digital transformation.

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