创新驱动政策是否促进企业数字化转型？——基于国家创新型城市试点政策的准自然实验

Does innovation-driven policies promote digital transformation of enterprises? ：A quasi-natural experiment based on the national innovation city pilot policy

摘要:

利用python软件对2004-2020年上市企业年报关键词进行文本挖掘,构建企业数字化转型指标,运用多时点双重差分模型(DID),考察创新型城市试点对企业数字化转型的政策效应。研究发现,相较于非试点城市,试点城市内的企业更加易于开展数字化转型,且这一政策效果在非国有企业、资本密集型行业的企业以及技术密集型行业的企业中更为显著。进一步分析发现,创新型城市试点能够通过缓解企业融资约束、促进科技人才集聚和优化创新环境(硬环境和软环境)对企业数字化转型产生影响。本文从制度层面的视角丰富了企业数字化转型驱动因素的研究,为政府后续制定企业数字化激励措施提供了经验证据。

Abstract:

Using python software to text-mine Keywords in the annual reports of listed enterprises from 2004 to 2020, we construct indicators of enterprise digital transformation and apply a multi-temporal double difference model (DID) to examine the policy effects of innovative city pilots on enterprise digital transformation. The study found that firms in pilot cities were more likely to undertake digital transformation than non-pilot cities, and that the effect of this policy was more pronounced among non-state enterprises, firms in capital-intensive industries, and firms in technology-intensive industries. Further analysis reveals that innovation city pilots can influence the digital transformation of enterprises by alleviating their financing constraints, promoting the concentration of scientific and technological talents, and optimizing the innovation environment (hard and soft environments). This paper enriches the study of the drivers of corporate digital transformation from an institutional-level perspective and provides empirical evidence for the subsequent development of corporate digital incentives by the government.