董事信息技术背景与企业全要素生产率

Directors’IT Expertise and Firms’Total Factor Productivity

基于手工整理的2005-2020年我国A股非金融上市公司所有董事会成员的简历,本文检验了董事信息技术背景对企业全要素生产率的影响。研究结果表明,董事信息技术背景能够提高企业全要素生产率,这种正向影响在资本密集度较低、产品市场竞争程度较低的企业中更为显著。此外,本文还发现了董事信息技术背景提高企业全要素生产率的两个机制:一是增加信息技术投资,二是提高固定资产的运营效率。本文不仅为董事信息技术背景影响作用的相关研究提供了新的视角,而且为企业层面全要素生产率的决定因素提供了新证据。

Using a hand-collected data set of Chinese A-share non-financial listed companies spanning years 2005-2020,this study examines whether directors’information technology expertise influences firms’total factor productivity.Our findings indicate a significant and positive effect.The positive effect is more salient for firms with lower capital intensity and firms in noncompetitive product markets.Furthermore,two mechanisms through which directors’information technology expertise improves total factor productivity have been identified:one is the increase in information technology investments;the other one is the enhancement in operating efficiency of fixed assets.Our study not only sheds new lights on the effects of directors’information technology expertise,but also provides convergent evidence on the determinants of firm-level total factor productivity.