The digital economy,which was born during the late third technological revolution,has caused significant economic and societal changes.Amid sluggish global economic growth,China’s economy is facing upgrades and trans...The digital economy,which was born during the late third technological revolution,has caused significant economic and societal changes.Amid sluggish global economic growth,China’s economy is facing upgrades and transformations.The sample selection for this study was conducted from 2013 to 2020.Data related to the digital economy and servitization of the industrial structure of 30 Chinese provinces,municipalities,and autonomous regions were collected.This study presents the human capital variable,based on which an econometric analysis was conducted,and examines its moderating effect.The findings indicate that even after the replacement variable indicator’s robustness test,the relationship between the digital economy and the servitization of industrial structures remains unchanged.This study demonstrats that the quality of human capital plays a positive role in this effect.Finally,a heterogeneity test demonstrated that there are different pathways for the impact of the digital economy on the servitization of industrial structures in the eastern,central,and western regions.This study provides evidence to help researchers understand the moderating utility of human capital.展开更多
This study explores the role of financial support in the digital transformation of Chinese A-share-listed companies from 2001 to 2020.By utilizing the moderating effect model and threshold regression model,this study ...This study explores the role of financial support in the digital transformation of Chinese A-share-listed companies from 2001 to 2020.By utilizing the moderating effect model and threshold regression model,this study finds the following results:(1)Digital transformation positively impacts innovation,and the support of banking and capital markets further strengthens this impact.(2)With the development of banking and capital markets,the impact of digital transformation on innovation changes from negative to positive,which is also reflected in the subsamples of Eastern companies,small and medium-sized companies(SMEs),and non-SMEs.(3)The study reveals that only the capital market in the non-Eastern region has no threshold,and capital market support is effective only for non-SMEs when it reaches a higher level.These findings have important implications for policymakers in promoting digital transformation through financial support and help companies understand how to use financial support to improve competitiveness.展开更多
基金funded by the National Natural Science Foundation of China(Grant No.:72074035)the Fundamental Research Funds for the Central Universities(Grant No.:2022CDSKXYGG006)the Graduate Research and Innovation Foundation of Chongqing,China(Grant No.:CYB22057).
文摘The digital economy,which was born during the late third technological revolution,has caused significant economic and societal changes.Amid sluggish global economic growth,China’s economy is facing upgrades and transformations.The sample selection for this study was conducted from 2013 to 2020.Data related to the digital economy and servitization of the industrial structure of 30 Chinese provinces,municipalities,and autonomous regions were collected.This study presents the human capital variable,based on which an econometric analysis was conducted,and examines its moderating effect.The findings indicate that even after the replacement variable indicator’s robustness test,the relationship between the digital economy and the servitization of industrial structures remains unchanged.This study demonstrats that the quality of human capital plays a positive role in this effect.Finally,a heterogeneity test demonstrated that there are different pathways for the impact of the digital economy on the servitization of industrial structures in the eastern,central,and western regions.This study provides evidence to help researchers understand the moderating utility of human capital.
基金the funding support from Research on Confidential Computing and Data Governance of China Financial Technology(2021XWK03)Research on the Road of Chinese Open Cooperation and High Quality Economic Development(2022CXTD04)+1 种基金Research on the Impact of Information Disclosure Quality on Corporate Financing Constraints from the Perspective of Digital transformation(2023CX012)supported financially by the China Scholarship Council(No.202306170119).
文摘This study explores the role of financial support in the digital transformation of Chinese A-share-listed companies from 2001 to 2020.By utilizing the moderating effect model and threshold regression model,this study finds the following results:(1)Digital transformation positively impacts innovation,and the support of banking and capital markets further strengthens this impact.(2)With the development of banking and capital markets,the impact of digital transformation on innovation changes from negative to positive,which is also reflected in the subsamples of Eastern companies,small and medium-sized companies(SMEs),and non-SMEs.(3)The study reveals that only the capital market in the non-Eastern region has no threshold,and capital market support is effective only for non-SMEs when it reaches a higher level.These findings have important implications for policymakers in promoting digital transformation through financial support and help companies understand how to use financial support to improve competitiveness.
