数字经济发展与企业全要素生产率——理论机制与实证检验

Digital Economy Development and Enterprise Total Factor Productivity——Theoretical Mechanism and Empirical Test

数字经济已成为提升全要素生产率,实现经济高质量发展的新动能。本文基于2011~2020年中国城市数据,构造了城市数字经济发展指数,并结合中国沪深A股上市公司数据,考察了数字经济发展对企业全要素生产率的影响。研究发现:数字经济发展显著地提升了企业全要素生产率水平;机制检验表明数字经济主要通过加快企业数字化转型、提高企业技术创新能力、提升管理效率等途径提升企业的全要素生产率水平。异质性分析发现,数字经济发展对非国有企业、创新型企业以及处于数字化关注程度高的地区的企业全要素生产率有更强的促进作用。本研究不仅为加快数字经济发展提供了理论支撑,也为数字经济与实体经济深度融合提供了政策启示。

The digital economy has become a new momentum for improving the productivity of full factor and achieving high-quality economic development.Based on 2011~2020,Chinese urban data is constructed,and the urban digital economy development index is constructed,and combined with the data of China's Shanghai-Shenzhen A-share listed companies data,it inspects the impact of digital economy development on the entire factor productivity of enterprises.Studies have found that the development of the digital economy has significantly improved the level of productivity of the enterprise's full factor;the mechanism test shows that the digital economy mainly improves the level of the enterprise's full factor productivity by accelerating the digital transformation of enterprises,improving the technological innovation capabilities of the enterprise,and improving management efficiency.Heterogeneous analysis found that the development of digital economy has a stronger promotion effect on non-state-owned enterprises,innovative enterprises,and enterprises with high digital attention.This study not only provides theoretical support for accelerating the development of the digital economy,but also provides policy inspiration for the deep integration of the digital economy and the real economy.