产业数字化与企业全要素生产率——来自中国制造业上市公司的证据

Industrial Digitalization and Enterprise Total Factor Productivity:Evidence from China’s Listed Manufacturing Enterprises

促进数字技术与制造业深度融合,是推动中国制造业高质量发展的关键举措。利用投入产出法测算2007—2019年中国制造业的产业数字化水平,并考察了产业数字化对企业全要素生产率的影响及其作用机制。研究发现,产业数字化显著提高了企业全要素生产率,该结论在经过一系列检验后依然稳健,产业数字化的生产率悖论不成立。产业数字化对低端劳动要素存在替代效应,且中小企业在数字化转型中受益更大。进一步的研究表明,产业数字化能够改变企业嵌入价值链各环节的方式,借由“创新激励效应”“价值共创效应”和“管理优化效应”来实现企业生产率的攀升。研究结果为加快推进中国制造业数字化转型、实现向价值链中高端迈进提供了经验借鉴与决策参考。

Promoting the deep integration of digital technology and manufacturing is the core driving force to achieve high-quality development of China’s manufacturing industry. Employing the input-output method to estimate the degree of industrial digitization of listed manufacturing companies in China from 2007 to 2019, this paper investigates the impact of manufacturing digitization on enterprise total factor productivity(TFP) and its working mechanism. As the result shows, manufacturing digitalization significantly improves enterprise TFP,which remains robust after a series of tests. Thus, the productivity paradox of industrial digitalization is false.Industrial digitalization has a substitution effect on low-end labor factors, and small and medium-sized enterprises benefit more from digital transformation. Further analysis shows that manufacturing digitization can change the way that enterprises are embedded in each link of the value chain, and accelerate TFP through“innovation incentive effect”,“value co-creation effect”and“management optimization effect”. The findings provide empirical and strategic enlightenments for promoting the transformation of manufacturing digitalization and the realization of moving toward the middle-and high-end of the value chain.