政府补助促进企业数字化转型机制实证研究

An Empirical Study on the Mechanism of Government Subsidies to Promote the Digital Transformation of Enterprises

政府补助是政府影响企业技术创新活动的重要方式,对新时期企业数字化转型也发挥着重要的影响。本文以2007—2020年上市企业数据样本,实证检验了政府补助对企业数字化转型产生的影响,以及具体的影响机制。实证结果发现:政府补助显著促进了企业数字化转型。考虑企业和地区层面异质性因素后发现:政府补助对非国有、发展期和东部地区企业数字化转型产生了显著的促进作用。渠道机制表明,政府补助通过缓解融资约束和增加企业研发投入的机制促进企业数字化转型。本文的研究为如何更有效促进企业数字化转型提供了政策启示。

Government subsidy is an important way for the government to influence the technological innovation activities of enterprises,and it also plays an important role in the digital transformation of enterprises in the new era.Based on the data samples of listed enterprises from 2007 to 2020,this paper empirically tests the impact of government subsidies on enterprise digital transformation and the specific impact mechanism.The empirical results show that government subsidies significantly promote the digital transformation of enterprises.After considering the heterogeneity factors at the enterprise and regional levels,the research finds that government subsidies play a significant role in promoting the digital transformation of non-state-owned,developing,and eastern enterprises.The channel mechanism shows that government subsidies promote the digital transformation of enterprises by easing financing constraints and increasing enterprise R&D investment.This paper provides policy enlightenment on how to promote the digital transformation of enterprises more effectively.