Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companies
Abstract Digital transformation has emerged as a powerful force in reshaping the business landscape and enabling organizations to enhance their capabilities. One critical aspect of this change is how it impacts an enterprise’s innovation ability. To explore this question, we select data regarding Ch...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Nature Portfolio
2024-03-01
|
| Series: | Scientific Reports |
| Subjects: | |
| Online Access: | https://doi.org/10.1038/s41598-024-56345-2 |
| _version_ | 1797219932844326912 |
|---|---|
| author | Xu Zhao Qi-an Chen Xiaoshu Yuan Yannan Yu Haitao Zhang |
| author_facet | Xu Zhao Qi-an Chen Xiaoshu Yuan Yannan Yu Haitao Zhang |
| author_sort | Xu Zhao |
| collection | DOAJ |
| description | Abstract Digital transformation has emerged as a powerful force in reshaping the business landscape and enabling organizations to enhance their capabilities. One critical aspect of this change is how it impacts an enterprise’s innovation ability. To explore this question, we select data regarding China’s A-share listed enterprises from 2007 to 2021 as the research sample. We employ crawler technology to gather keywords related to “digital transformation” from annual reports, portraying detailed journeys of enterprises’ digital transformation. Through descriptive statistics and multiple covariance tests, a linear relationship is established between digital transformation and innovation ability. Benchmark regression is conducted and a robustness test is utilized to determine the robustness of the benchmark regression. The mechanism, heterogeneity, and moderating effects of this study are also tested. The results reveal that digital transformation makes a significant positive contribution to the innovation capability of enterprises. Meanwhile, among different types of enterprises, the impact of digital transformation on enterprise innovation capability shows heterogeneity. In terms of the impact mechanism, digital transformation can enhance the innovation output of enterprises by reducing the agency cost and improving the risk-taking level of enterprises, so as to further improve the innovation capability of enterprises. The research results of this paper provide essential theoretical support for the digital transformation of enterprises and the government’s formulation of enterprises’ digitalization strategies. More profoundly, it provides significant reference for how to further promote the digital transformation of Chinese enterprises. |
| first_indexed | 2024-04-24T12:41:30Z |
| format | Article |
| id | doaj.art-6be93b3e307248aabda5fffc0cacf14d |
| institution | Directory Open Access Journal |
| issn | 2045-2322 |
| language | English |
| last_indexed | 2024-04-24T12:41:30Z |
| publishDate | 2024-03-01 |
| publisher | Nature Portfolio |
| record_format | Article |
| series | Scientific Reports |
| spelling | doaj.art-6be93b3e307248aabda5fffc0cacf14d2024-04-07T11:14:06ZengNature PortfolioScientific Reports2045-23222024-03-0114112010.1038/s41598-024-56345-2Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companiesXu Zhao0Qi-an Chen1Xiaoshu Yuan2Yannan Yu3Haitao Zhang4School of Economics and Business Administration, Chongqing UniversitySchool of Economics and Business Administration, Chongqing UniversitySurrey International Institute, Dongbei University of Finance and EconomicsSurrey International Institute, Dongbei University of Finance and EconomicsCesar Ritz Colleges SwitzerlandAbstract Digital transformation has emerged as a powerful force in reshaping the business landscape and enabling organizations to enhance their capabilities. One critical aspect of this change is how it impacts an enterprise’s innovation ability. To explore this question, we select data regarding China’s A-share listed enterprises from 2007 to 2021 as the research sample. We employ crawler technology to gather keywords related to “digital transformation” from annual reports, portraying detailed journeys of enterprises’ digital transformation. Through descriptive statistics and multiple covariance tests, a linear relationship is established between digital transformation and innovation ability. Benchmark regression is conducted and a robustness test is utilized to determine the robustness of the benchmark regression. The mechanism, heterogeneity, and moderating effects of this study are also tested. The results reveal that digital transformation makes a significant positive contribution to the innovation capability of enterprises. Meanwhile, among different types of enterprises, the impact of digital transformation on enterprise innovation capability shows heterogeneity. In terms of the impact mechanism, digital transformation can enhance the innovation output of enterprises by reducing the agency cost and improving the risk-taking level of enterprises, so as to further improve the innovation capability of enterprises. The research results of this paper provide essential theoretical support for the digital transformation of enterprises and the government’s formulation of enterprises’ digitalization strategies. More profoundly, it provides significant reference for how to further promote the digital transformation of Chinese enterprises.https://doi.org/10.1038/s41598-024-56345-2Digital transformationAgency costsRisk-bearing levelEnterprise innovation capability |
| spellingShingle | Xu Zhao Qi-an Chen Xiaoshu Yuan Yannan Yu Haitao Zhang Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companies Scientific Reports Digital transformation Agency costs Risk-bearing level Enterprise innovation capability |
| title | Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companies |
| title_full | Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companies |
| title_fullStr | Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companies |
| title_full_unstemmed | Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companies |
| title_short | Study on the impact of digital transformation on the innovation potential based on evidence from Chinese listed companies |
| title_sort | study on the impact of digital transformation on the innovation potential based on evidence from chinese listed companies |
| topic | Digital transformation Agency costs Risk-bearing level Enterprise innovation capability |
| url | https://doi.org/10.1038/s41598-024-56345-2 |
| work_keys_str_mv | AT xuzhao studyontheimpactofdigitaltransformationontheinnovationpotentialbasedonevidencefromchineselistedcompanies AT qianchen studyontheimpactofdigitaltransformationontheinnovationpotentialbasedonevidencefromchineselistedcompanies AT xiaoshuyuan studyontheimpactofdigitaltransformationontheinnovationpotentialbasedonevidencefromchineselistedcompanies AT yannanyu studyontheimpactofdigitaltransformationontheinnovationpotentialbasedonevidencefromchineselistedcompanies AT haitaozhang studyontheimpactofdigitaltransformationontheinnovationpotentialbasedonevidencefromchineselistedcompanies |