Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China
This study uses text mining technology to construct an index of digital transformation and discusses the impact of digital transformation on enterprise innovation and its mechanisms from theoretical and empirical perspectives. It also analyzes whether digital transformation can significantly enhance...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-01-01
|
| Series: | Journal of Innovation & Knowledge |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2444569X23000288 |
| _version_ | 1811165407847907328 |
|---|---|
| author | Meiyu Liu Chengyou Li Shuo Wang Qinghai Li |
| author_facet | Meiyu Liu Chengyou Li Shuo Wang Qinghai Li |
| author_sort | Meiyu Liu |
| collection | DOAJ |
| description | This study uses text mining technology to construct an index of digital transformation and discusses the impact of digital transformation on enterprise innovation and its mechanisms from theoretical and empirical perspectives. It also analyzes whether digital transformation can significantly enhance enterprises’ value through innovation. The findings are presented as follows: first, digital transformation has a positive and significant impact on enterprise innovation, and this finding holds true when we conduct robustness testing and endogeneity processing. Second, the influence of digital transformation on enterprise innovation varies significantly according to enterprise size, ownership, and industry. Third, risk-taking plays an intermediary role between digital transformation and innovation. Fourth, the innovation incentive effect of digital transformation has a value enhancement function with a two-year lag, while it lacks a value enhancement function in the current year, following year, or next three years. In the modern era of innovation-driven and cross-border integration, this study deepens the theoretical understanding of innovation-driven and digital transformation. It also promotes the deeper integration of real and digital economies in practice. |
| first_indexed | 2024-04-10T15:36:44Z |
| format | Article |
| id | doaj.art-7bcc5a41fa4c48f09dc7ebeedcb170e2 |
| institution | Directory Open Access Journal |
| issn | 2444-569X |
| language | English |
| last_indexed | 2024-04-10T15:36:44Z |
| publishDate | 2023-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Innovation & Knowledge |
| spelling | doaj.art-7bcc5a41fa4c48f09dc7ebeedcb170e22023-02-13T04:07:27ZengElsevierJournal of Innovation & Knowledge2444-569X2023-01-0181100332Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in ChinaMeiyu Liu0Chengyou Li1Shuo Wang2Qinghai Li3School of Business Administration, Shandong University of Finance and Economics, Jinan 250014, ChinaSchool of Finance, Shandong University of Finance and Economics, Jinan 250014, China; Corresponding author at: Room 9115, 1/F, Ganxun Building, Shandong University of Finance and Economics, No. 40, Shungeng Road, Jinan city, Shandong Province, Zip code: 250014, China.The Center for Economic Research, Shandong University 250100, ChinaSchool of Economics, Nanjing University of Finance and Economic, Nanjing 210023, ChinaThis study uses text mining technology to construct an index of digital transformation and discusses the impact of digital transformation on enterprise innovation and its mechanisms from theoretical and empirical perspectives. It also analyzes whether digital transformation can significantly enhance enterprises’ value through innovation. The findings are presented as follows: first, digital transformation has a positive and significant impact on enterprise innovation, and this finding holds true when we conduct robustness testing and endogeneity processing. Second, the influence of digital transformation on enterprise innovation varies significantly according to enterprise size, ownership, and industry. Third, risk-taking plays an intermediary role between digital transformation and innovation. Fourth, the innovation incentive effect of digital transformation has a value enhancement function with a two-year lag, while it lacks a value enhancement function in the current year, following year, or next three years. In the modern era of innovation-driven and cross-border integration, this study deepens the theoretical understanding of innovation-driven and digital transformation. It also promotes the deeper integration of real and digital economies in practice.http://www.sciencedirect.com/science/article/pii/S2444569X23000288L86D40C23 |
| spellingShingle | Meiyu Liu Chengyou Li Shuo Wang Qinghai Li Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China Journal of Innovation & Knowledge L86 D40 C23 |
| title | Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China |
| title_full | Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China |
| title_fullStr | Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China |
| title_full_unstemmed | Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China |
| title_short | Digital transformation, risk-taking, and innovation: Evidence from data on listed enterprises in China |
| title_sort | digital transformation risk taking and innovation evidence from data on listed enterprises in china |
| topic | L86 D40 C23 |
| url | http://www.sciencedirect.com/science/article/pii/S2444569X23000288 |
| work_keys_str_mv | AT meiyuliu digitaltransformationrisktakingandinnovationevidencefromdataonlistedenterprisesinchina AT chengyouli digitaltransformationrisktakingandinnovationevidencefromdataonlistedenterprisesinchina AT shuowang digitaltransformationrisktakingandinnovationevidencefromdataonlistedenterprisesinchina AT qinghaili digitaltransformationrisktakingandinnovationevidencefromdataonlistedenterprisesinchina |