CORPORATE DIGITALISATION AND HETEROGENEOUS TECHNOLOGICAL INNOVATIONS: IS CAPITAL ALLOCATION EFFECTIVE?

IF 1.3 Q3 MANAGEMENT

International Journal of Innovation Management Pub Date : 2023-05-01 DOI:10.1142/s1363919623500226

HAN ZOU

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引用次数: 0

Abstract

Can corporate digitalisation unleash an information dividend to drive technological innovations? Few researches examine this issue from diversified perspectives of capital allocation. Based on a dataset of Chinese A-listed enterprises during 2007–2019, this paper measures digitalisation by capturing frequencies of data-related words in corporate reports, and generalised moment method is used to explore the heterogeneous effects of corporate digitalisation on green or traditional technological innovation. The result shows that corporate digitalisation is positively correlated with both technological innovations, and it presents a greater promotion in traditional technological innovation than in green technological innovation. Capital compliant allocation based on improving managerial opportunism only plays a significant moderating role in green technological innovation, while capital optimal allocation significantly accelerates the incentive of digitalisation on both technological innovations, with its improvement on traditional technological innovation is much greater. Besides, the dynamic panel threshold model captures significant double-threshold effect of corporate digitalisation on technological innovations, manifesting as positive U-shaped curves with slopes change around the second threshold. Compared with the optimal interval to promotes technological innovations, digitalisation in more than half enterprises still fails to provide incentives for technological innovations.

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企业数字化与异质技术创新:资本配置有效吗?

企业数字化能否释放信息红利，推动技术创新?很少有研究从多元化的资本配置角度来考察这一问题。本文基于2007-2019年中国a股上市企业数据集，通过捕获企业报告中数据相关词汇的频率来衡量企业数字化程度，并采用广义矩量法探讨企业数字化对绿色技术创新和传统技术创新的异质性影响。结果表明，企业数字化与两种技术创新均呈正相关，且对传统技术创新的促进作用大于对绿色技术创新的促进作用。基于改善管理机会主义的资本合规配置对绿色技术创新仅起到显著调节作用，而资本优化配置显著加速了数字化对两种技术创新的激励，对传统技术创新的促进作用要大得多。此外，动态面板阈值模型捕获了企业数字化对技术创新的显著双阈值效应，表现为正u型曲线，斜率在第二个阈值附近变化。与促进技术创新的最佳间隔相比，超过一半的企业的数字化仍未能为技术创新提供激励。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Innovation Management MANAGEMENT-

CiteScore

3.70

自引率

14.30%

发文量

期刊介绍： The International Journal of Innovation (IJIM) is the official journal of the International Society of Professional Innovation Management (ISPIM). Both the IJIM and ISPIM adopt a multi-disciplinary approach to addressing the many challenges of managing innovation, rather than a narrow focus on a single aspect such as technology, R&D or new product development. Both are also international, inclusive & practical, and encourage active interaction between academics, managers and consultants.