摘要
本文基于2007-2017年中国A股制造业上市公司数据,从直接传导机制、间接传导机制和异质性传导机制三个维度阐述了数字化发展推动企业服务化转型的内在机理,采用文本挖掘技术构造了企业层面的数字化发展指数,在此基础上从实证角度检验了数字经济的服务化转型效应,主要结论如下:(1)数字化发展显著提高了企业的服务化水平,是新时代推动制造业企业服务化转型的强大动力。(2)数字化发展能通过提高创新能力和优化人力资本结构的机制间接促进企业服务化转型。(3)数字化发展对企业服务化转型的推动作用受地区知识产权保护力度、服务业开放度和企业要素密集度的差异性影响。(4)通过考察数字化企业的服务化转型质量,发现数字化发展可以通过服务化转型提高企业的销售净利率、人均产出和每股收益,实现绩效改善和价值增值,助推企业高质量发展。本文研究结论为理解企业数字化战略的作用提供了丰富的经验证据,为制造业企业的服务化转型提供了一条现实路径。
Since the reform and opening up, China’s economy has undergone earth-shaking changes. It has rapidly grown from an agricultural country to the world’s largest industrial country and manufacturer. However, China’s real economy is still facing the prominent problem of being big but not strong. Although the economy is huge, the quality of supply is not high enough to meet the needs of the transformation of the consumption structure. From an international perspective, the integrated development of manufacturing and service industries can effectively improve the supply quality of manufacturing, promote manufacturing transformation and enhance international competitiveness. It should be pointed out that the current level of servitization in China’s manufacturing industry is still low, and the insufficient height and low efficiency of the service industry have become the most prominent factors restricting the development of the real economy, affecting the production efficiency and innovative development capabilities of the entire industrial system. In the development of the global service economy, we urgently need to find a realistic path for the service-oriented transformation of Chinese manufacturing companies, which is of great significance for Chinese manufacturing companies to move towards the high end of the value chain and enhance their international competitiveness.Digital development provides a possible research perspective for the service transformation of enterprises. Studies have found that digital development can significantly improve corporate performance, promote value chain climbing, improve manufacturing production efficiency, improve regional innovation capabilities, and achieve green and sustainable development. However, most of these studies are carried out at the macro and regional levels, and they are mainly made from the perspective of "Internet+." Few studies comprehensively explore the impact of digital development on the transformation of enterprises’ service-oriented business from a micro perspective. Opening up the research chain of "digital development → servitization → high-quality development of enterprises" is a way to upgrade the competitiveness of enterprises that is not yet fully understood in the existing literature. The possible contributions of this article are as follows.(1) From on the perspective of digital development, this article explores the mechanism of its influence on servitization. This makes up for the deficiencies of existing research.(2) Based on the micro-data of listed companies, this paper uses text mining to construct the enterprise-level digital development index. At the same time, it measures the level of servitization from the perspective of service-oriented output and personnel structure. Next, this paper conducts empirical research on the relationship between digital development and servitization, and tests its impact mechanism.(3) This article introduces the protection of intellectual property rights, the degree of openness of the service industry and the intensity of enterprise factors into the empirical analysis to explore whether digital development has a heterogeneous impact on the service transformation of manufacturing enterprises.(4) Considering that the service-oriented transformation of enterprises is not only reflected in the quantity but more importantly in the quality, this article further examines whether the digital development can improve the business performance, per capita output and earnings per share through servitization. This article provides a realistic path for the servitization and upgrading of China’s manufacturing industry.Based on the data of China’s A-share manufacturing listed companies from 2007 to 2017, this paper explains the internal mechanism of the impact of digital development on the service-oriented transformation of enterprises from three dimensions: direct transmission mechanism, indirect transmission mechanism, and heterogeneous transmission mechanism. Based on the enterprise-level digital development index, the servitization effect of the digital economy is tested from an empirical perspective. The main conclusions are as follows.(1) Digital development has significantly improved the level of servitization and has become a strong driving force for the service-oriented transformation of manufacturing enterprises in the new era. This conclusion is still valid after a series of robustness tests.(2) Based on the research on the impact mechanism, it is found that digital development can indirectly promote the servitization of enterprises through mechanisms that improve innovation capabilities and optimize human capital structure.(3) The role of digital development in the promotion of enterprises’ service-oriented transformation is affected by the differences in regional intellectual property protection, the openness of the service industry, and the factor density of enterprises.(4) By examining the quality of service transformation of digital enterprises, it is found that digital development can increase the company’s net sales margin, per capita output and earnings per share through service transformation, achieve performance improvement and value appreciation, and promote high-quality development of enterprises. The policy implications of the above findings are as follows.(1) Enterprises should pay attention to the powerful promotion of digital development in the transformation of service businesses, accelerate the innovation and application of digital technologies, strengthen the construction of enterprises’ smart factories, form internet business thinking, and accelerate the improvement of information infrastructure construction.(2) The service-oriented manufacturing industry is an advanced manufacturing model driven by innovative elements. Therefore, in the servitization of the manufacturing industry, it is necessary to reconstruct the innovation ecology of the enterprise with a digital strategy, pay attention to human capital management, and lead to enterprises’ service-oriented transformation through organizational innovation and institutional innovation.(3) The government should adopt some institutional reforms to create a good external environment for the implementation of corporate digital strategies.(4) In the process of servitization, enterprises should not only pay attention to the increase in the quantity of service-oriented output and the improvement of the quality of servitization, so as to prevent the negative impact of blindly expanding service-oriented investment on enterprise operating efficiency.
作者
赵宸宇
Zhao Chenyu(School of Finance,Zhejiang Gongshang University)
出处
《南开管理评论》
CSSCI
北大核心
2021年第2期149-161,I0027,I0028,共15页
Nankai Business Review
基金
浙江省自然科学基金项目(LQ21G030008)
国家自然科学基金项目(71803177)
浙江工商大学泰隆金融学院课题(TFS20KY011)资助。
关键词
数字化发展
服务化转型
创新驱动
高质量发展
digital development
servitization
innovation
high-quality development
作者简介
赵宸宇,浙江工商大学金融学院讲师、博士,研究方向为数字经济、制造业转型升级、国际投资。
