工业智能化、资本深化和企业创新边界

Industrial Intelligence, Capital Deepening, and Corporate Innovation Boundaries

摘要:

制造业创新是促进工业结构升级和增强国际竞争力的核心动力,而工业智能化和资本深化有助于推动企业突破传统创新边界,实现长期可持续性发展。本文基于2011—2022年中国沪深A股制造业上市公司的数据,以国家颁布《中国制造2025》为准自然实验,考察了工业智能化与资本深化的协同作用对企业创新边界的影响及其作用机制。研究表明：工业智能化与资本深化具有正向协同作用,能够协同促进企业扩展创新边界；工业智能化与资本深化的协同作用在技术和资产密集型企业、低融资约束企业以及东中部地区企业中表现得更为明显；机制检验表明,工业智能化与资本深化之间的协同作用主要通过改善公司治理水平、提高研发效率和增强市场感知力来拓宽制造企业创新边界。本文探讨工业智能化和资本深化对企业创新边界扩展的协同作用,对发挥工业智能化和资本深化在企业高层次创新中的积极作用,构建现代化工业体系具有重要现实意义。

Abstract:

The advancement of manufacturing innovation serves as a fundamental driver for fostering structural upgrades within industries while bolstering international competitiveness. Concurrently, leveraging industrial intelligence alongside increased capital investment facilitates breakthroughs beyond conventional innovative limitations for sustained long-term development among businesses. Drawing upon data from A-share manufacturing listed companies in Shanghai and Shenzhen between 2011-2022, this study explores how industrial intelligence coupled with enhanced capital investment synergistically impacts enterprise innovativeness within an experimental framework aligned with China"s "Made in China 2025" initiative. Findings reveal a positive joint impact where these factors collectively propel firms towards expanding their innovative frontiers; notably pronounced within technology-driven or asset-intensive entities operating under minimal financial constraints located across eastern or central regions. Mechanism testing demonstrates that this synergy primarily broadens manufacturing enterprise innovativeness through improved corporate governance practices, heightened research efficiency, as well as augmented market perception. This study delves into elucidating how combining industrial intelligence with intensified capital investment extends enterprise innovative boundaries - offering substantial practical significance towards harnessing their constructive influence on high-level business innovations.