The Economic Consequences of the Digital Transformation of Manufacturing Enterprises Driven by Innovation

Abstract

In the context of innovation, digital transformation provides a new direction for the high-quality development of Chinese enterprises. Based on the data of listed manufacturing companies on the Shanghai Stock Exchange from 2016 to 2020, this paper uses a panel regression model to empirically analyze the impact of digital transformation on the economic benefits of manufacturing companies and the mediating effects of enterprise innovation and internal control. The research results show that digital transformation positively impacts the economic benefits of manufacturing enterprises. Digital transformation improves economic efficiency by strengthening internal controls and corporate innovation. Further analysis shows that digital transformation significantly impacts non-state-owned and large enterprises.