互联网对制造企业创新的影响机制及实证研究

The Influence Mechanism and Empirical Research of Internet on Innovation of Manufacturing Enterprises

在我国深入实施创新驱动发展战略、推动中国制造业由“中国制造”向“中国创造”跨越的历史背景下,构建互联网促进制造企业创新理论分析框架,运用中介效应模型揭示互联网促进制造企业创新的机制。结果发现,互联网对制造企业创新存在显著促进作用;机制检验表明,互联网可以通过成本和人力资本的中介促进制造企业创新,即互联网能通过加速人力资本积累,降低交易成本和代理、治理成本,成为制造企业创新的重要驱动力;拓展性分析中,制造企业面临的融资约束和传统公司治理方式显著负向调节互联网对制造企业创新的促进作用。从降低成本和加速人力资本积累两个方面,解释互联网如何激发制造企业创新活力,为解析互联网促进制造企业创新机制的“黑箱”提供新视角。

China's economy is in a critical period of transformation from high-speed growth to high-quality development.Realizing the transformation and upgrading of manufacturing industry,development model innovation and format innovation is of great significance to enhance the development vitality,innovation and competitiveness of China's manufacturing industry and promote the high-quality development of China's manufacturing industry.To this end,in recent years,China has deeply implemented the innovation driven development strategy,promoted the deep integration of the Internet domestic manufacturing industry,promoted the innovative development of manufacturing enterprises,and continued to promote the leap of China's manufacturing industry from"made in China"to"created in China".However,as major countries in the world have promoted the integrated development of Internet technology and manufacturing.In the context of the Internet,global technological and industrial changes will not only reshape the global economic structure,but also subvert the business model and value creation mode of enterprises,and become an important driving force for the innovation and development of enterprises.It has become a widespread concern of all sectors of society if Chinese manufacturing enterprises can seize the opportunity of Internet development,break through bottlenecks,actively innovate and achieve high-quality development.Then,can the integrated development of the Internet and manufacturing enterprises significantly promote the innovation of manufacturing enterprises?What is the mechanism for the Internet to promote the innovation of manufacturing enterprises?In order to answer these questions,this paper constructs the theoretical analysis framework of Internet promoting manufacturing enterprises'innovation,and uses the mediation effect model to reveal the mechanism of Internet promoting manufacturing enterprises'innovation.Specifically,this paper combines the Internet with the micro factors of cost and human capital that affect enterprise innovation to empirically test the impact of the Internet on manufacturing enterprise innovation.Further,the mediation effect model is used to analyze the internal mechanism of Internet promoting manufacturing enterprises'innovation through reducing transaction cost,agency cost,governance cost and accelerating human capital accumulation,namely,reducing cost and accelerating human capital accumulation are important mediating variables of Internet promoting manufacturing enterprises'innovation.This paper selects Chinese listed manufacturing companies in Shanghai and Shenzhen stock markets from 2015 to 2018 as the research object.In order to make the research results more robust,in the empirical analysis,this paper excludes the data of overseas stocks,Hong Kong stocks,incomplete data and non-manufacturing listed companies,and finally obtains the panel data of 163 listed manufacturing companies in 4 years.It finds that firstly the Internet has a significant role in promoting the innovation of manufacturing enterprises.Secondly,the mechanism test shows that the Internet can promote the innovation of manufacturing enterprises through the intermediary variables of cost and human capital,that is,the Internet can become an important driving force for the innovation of manufacturing enterprises by accelerating the accumulation of human capital and reducing transaction costs,agency and governance costs;Third,in the expansionary analysis,the financing constraints faced by manufacturing enterprises and traditional corporate governance significantly negatively regulate the promoting effect of the Internet on the innovation of manufacturing enterprises.This paper explains how the Internet stimulates the innovation vitality of manufacturing enterprises from two aspects of reducing costs and accelerating the accumulation of human capital,which provides a new perspective for analyzing the"black box"of Internet promoting innovation mechanism of manufacturing enterprises,and also provides a theoretical reference for manufacturing enterprises how to efficiently use the Internet.At the same time,the financing constraints faced by manufacturing enterprises and traditional corporate governance significantly negatively moderated the promotion effect of Internet on manufacturing enterprises'innovation,highlighting the timeliness and importance of the Chinese government's measures to actively promote financial support for the development of real economy and deepen organizational reform and innovation of enterprises.