实数融合赋能企业创新:理论机制与经验证据

摘要/Abstract

摘要： 数字技术的广泛应用使得实数融合已成为企业创新水平提升的关键策略。当前我国企业创新面临的困境在于数字技术应用场景碎片化与数据要素离散化分布所导致的创新资源配置效率低下,制约了企业创新水平提升。尽管已有研究关注了实数融合与创新的关联,但多聚焦于传统生产要素的线性传导逻辑,从企业数字化视角实证检验实数融合赋能企业创新的研究仍相对较少。基于此,选取2008—2023年中国A股上市公司数据,考察实数融合对企业创新的影响及其作用机制。研究表明,实数融合水平每提升1个单位,企业创新水平会提升2.4%,表明实数融合对企业创新具有显著的促进作用。机制分析表明,实数融合通过拓展数字技术应用场景和提高数据要素利用效率两种路径提升企业创新水平。异质性分析表明,实数融合对规模较大企业、知识存量较高企业、市场需求规模较大企业、人力资本结构较高企业和位于知识产权保护水平较高地区企业影响均显著为正。此外,企业吸收能力能够强化实数融合对创新的促进作用。

关键词: 实数融合, 数据要素, 数字技术, 创新水平

Abstract: The widespread application of digital technology has made the real-digital integration a key strategy for enterprises to enhance their innovation capabilities. The core challenge currently faced by Chinese enterprises in innovation lies in the fragmented application scenarios of digital technology and the dispersed distribution of data elements, which result in low efficiency in the allocation of innovation resources and hinder the improvement of enterprise innovation levels. Although existing research has explored the relationship between real-digital integration and innovation, most studies have focused on the linear transmission logic of traditional production factors. Research that comprehensively reveals how real-digital integration empowers enterprise innovation from a digital enterprise perspective remains relatively scarce. Based on this, the data of Chinese A-share listed companies from 2008 to 2023 are selected to examine the impact of real-digital integration on corporate innovation and its underlying mechanism. The study shows that for every 1-unit increase in the level of real-digital integration, the level of corporate innovation will increase by 2.4%, indicating that real-digital integration has a significant positive promotion effect on corporate innovation. Mechanism analysis shows that real-digital integration enhances enterprise innovation level through two paths: expanding the application scenarios of digital technology and improving the utilization efficiency of data elements. Heterogeneity analysis shows that real-digital integration has a significant positive effect on larger enterprises, enterprises with higher knowledge stock, enterprises with larger market demand, enterprises with higher human capital structure, and enterprises located in regions with higher level of intellectual property protection. In addition, the absorptive capacity of enterprises can strengthen the promotion effect of real-digital integration on innovation.

Key words: real-digital integration, data elements, digital technology, level of innovation

中图分类号:

F272

李天建, 张浩天. 实数融合赋能企业创新:理论机制与经验证据[J]. 贵州财经大学学报, 2025(6): 52-62.

LI Tianjian, ZHANG Haotian. Real-Digital Integration Enables Firm Innovation: Theoretical Mechanisms and Empirical Evidence[J]. Journal of Guizhou University of Finance and Economics, 2025(6): 52-62.

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