{"title":"Digital technology, the industrial internet, and cost stickiness","authors":"Lili Hui , Huobao Xie , Xiaofang Chen","doi":"10.1016/j.cjar.2023.100339","DOIUrl":null,"url":null,"abstract":"<div><p>The deep integration of digital technology with the real economy has reconstructed production systems. We explore the impact of digital technology on the resource allocation behavior and efficiency of manufacturing enterprises. Using a sample of Chinese A-share listed manufacturing firms over the 2010–2021 period, we find that digital technology alleviates cost stickiness, especially in enterprises with a high level of Industrial Internet platform usage. This effect occurs by optimizing the labor force structure and improving the economic benefits of labor capital investment. Heterogeneity analysis shows that this effect is pronounced in enterprises with high levels of labor intensity and business complexity. Our findings shed new light on the consequences and mechanism of enterprise cost optimization that is driven by technology-driven reforms.</p></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"17 1","pages":"Article 100339"},"PeriodicalIF":1.9000,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1755309123000497/pdfft?md5=44316d101c69ac9c6ed6b818cb206a09&pid=1-s2.0-S1755309123000497-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"China Journal of Accounting Research","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1755309123000497","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
The deep integration of digital technology with the real economy has reconstructed production systems. We explore the impact of digital technology on the resource allocation behavior and efficiency of manufacturing enterprises. Using a sample of Chinese A-share listed manufacturing firms over the 2010–2021 period, we find that digital technology alleviates cost stickiness, especially in enterprises with a high level of Industrial Internet platform usage. This effect occurs by optimizing the labor force structure and improving the economic benefits of labor capital investment. Heterogeneity analysis shows that this effect is pronounced in enterprises with high levels of labor intensity and business complexity. Our findings shed new light on the consequences and mechanism of enterprise cost optimization that is driven by technology-driven reforms.
数字技术与实体经济的深度融合重构了生产体系。我们探讨了数字技术对制造业企业资源配置行为和效率的影响。以 2010-2021 年中国 A 股制造业上市公司为样本，我们发现数字技术缓解了成本粘性，尤其是在工业互联网平台使用水平较高的企业。这种效应是通过优化劳动力结构和提高劳动力资本投资的经济效益而产生的。异质性分析表明，这种效应在劳动密集程度和业务复杂程度高的企业中更为明显。我们的研究结果为我们揭示技术驱动的改革所带来的企业成本优化的结果和机制提供了新的思路。
期刊介绍：
The focus of the China Journal of Accounting Research is to publish theoretical and empirical research papers that use contemporary research methodologies to investigate issues about accounting, corporate finance, auditing and corporate governance in the Greater China region, countries related to the Belt and Road Initiative, and other emerging and developed markets. The Journal encourages the applications of economic and sociological theories to analyze and explain accounting issues within the legal and institutional framework, and to explore accounting issues under different capital markets accurately and succinctly. The published research articles of the Journal will enable scholars to extract relevant issues about accounting, corporate finance, auditing and corporate governance related to the capital markets and institutional environment.
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