The impact of digital economy development on the performance of digital creative enterprises

The rapid expansion of the digital economy has increasingly highlighted its profound impact on various industries. However, academic research on the performance of digital creative enterprises remains insufficient. To address this gap, this study examines the mechanism through which the digital economy affects corporate performance among listed digital creative enterprises from 2014 to 2023, employing a panel two-way fixed-effects model. The findings indicate that the development of the digital economy significantly enhances the performance of digital creative enterprises. Further analysis reveals that higher levels of marketization substantially amplify this positive effect. Additionally, the digital economy exerts a more pronounced value-enhancing effect on digital creative enterprises participating in public–private partnership (PPP) projects, private enterprises, and small- and medium-sized enterprises (SMEs). This study provides support for government policy-making and corporate strategic development, holding significant theoretical and practical implications.