数字化转型对资源型企业全要素生产率的影响

The impact of digital transition on total factor productivity of resource-based enterprises

【目的】数字化转型作为焕发内在动力的重要举措,能否促进资源型企业实现经济高质量发展亟待研究。【方法】本文选取2011—2019年中国资源型上市企业样本数据,运用文本分析技术刻画数字化转型,并基于面板门槛模型、倾向得分匹配法等方法,实证考察了数字化转型对资源型企业全要素生产率的影响及作用机理。【结果】研究发现:(1)数字化转型显著提高了资源型企业全要素生产率,并且该结论在进行了一系列稳健性检验后仍然成立;(2)专业化分工是数字化转型促进资源型企业全要素生产率提高的重要机制,即数字化转型能突破时间与空间限制,促使专业化分工最大限度地发挥各生产要素的比较优势,提高资源型企业全要素生产率;(3)数字化转型对资源型企业全要素生产率的促进作用呈现出“边际效应”递增的非线性特征;同时在专业化分工的门槛下,数字化转型对资源型企业全要素生产率的促进作用更显著;(4)数字化转型对资源型企业全要素生产率的影响因外部交易成本差异而存在异质性,如在资产专用性较高和市场化水平较低的环境中,数字化转型对资源型企业全要生产率的促进作用更显著。【结论】未来应积极引导资源型企业数字化转型,深化分工,为资源型企业提供助推数字化转型发展、降低外部交易成本的良好制度环境。

[Objective] As an important measure to stimulate traditional development drivers,the role of digital transition in promoting resource-based enterprises to achieve high-quality economic development needs to be examined.[Methods] This study used the sample data of Chinese resource-based enterprises from 2011 to 2019 and text analysis techniques to depict digital transition,and empirically examined the impact of digital transition on total factor productivity of resource-based enterprises and mechanism based on panel models and threshold models.[Results]The research found that:(1) Digital transition significantly improved total factor productivity of resource-based enterprises in the four aspects of mining,production and manufacturing,business management,and raw material transportation,and this conclusion is still valid after a series of robustness tests.(2) Digital transition had a positive impact on total factor productivity of resourcebased enterprises by promoting specialized division of labor.Digital transition promoted specialized division of labor within the enterprises to maximize the comparative advantages of various production factors and improve the total factor productivity of resource-based enterprises.It also broke through time and space constraints from outside the enterprises,reduced transaction costs and search costs,encouraged more enterprises to participate in specialized division of labor,and further promoted the growth of total factor productivity of resource-based enterprises.(3) The promoting effect of digital transition on total factor productivity of resource-based enterprises presented a dynamic nonlinear trend of increasing marginal effect.Under the threshold of specialized division of labor,digital transition had a more significant promoting effect on total factor productivity of resource-based enterprises,indicating that specialized division of labor can strengthen this effect and accelerate the improvement of total factor productivity of resource-based enterprises.(4) The impact of digital transition on total factor productivity of resource-based enterprises was heterogeneous due to differences in external transaction costs.For example,in environments with high asset specificity and low marketization levels,digital transition had a more significant impact on total factor productivity of resource-based enterprises.Therefore when resource-based enterprises face severe challenges of high external costs,it is wise to improve total factor productivity through digital transition.[Conclusion] In the future,we should actively guide the digital transition of resource-based enterprises,deepen the division of labor,and provide a supportive institutional environment for resource-based enterprises to promote the development of digital transition and reduce external transaction costs.