智能化转型影响企业全要素生产率的门槛效应研究

Research on Threshold Effect of Intelligent Transformation on Total Factor Productivity of Enterprises

随着全球制造业步入4.0时代,智能制造成为新兴的蓝海市场。本文基于资源基础观,以2010~2021年持续经营的837家制造业A股上市企业作为样本,采用面板门槛回归模型,使用VAIC方法对价值增值部分进行分解,探索智能化转型对企业全要素生产率影响的物质资本与智力资本门槛机制。研究发现,智能化转型对企业全要素生产率的促进作用依托于物质资本与智力资本门槛。只有当企业的物质资本与智力资本累积跨过门槛后,智能化转型才能对企业的全要素生产率起到显著的促进作用。研究深化了智能化转型、企业资源基础与全要素生产率的机制研究,为企业智能化转型效果评估与政府政策制定提供实践启示。

With the global manufacturing industry gradually entering the 4.0 era,intelligent manufacturing is about to be⁃come a new blue ocean market.Based on the resource-based view,this paper uses the panel threshold regression model to test a sample of 837 listed manufacturing companies which are in continuous operating from 2010 to 2021.Moreover,the VAIC methodolo⁃gy is employed to decompose the value-added to explore the threshold effect of corporeal and intellectual capital that the intelligent transformation affects the total factor productivity of firms.The findings reveal that the effect of intelligent transformation on total fac⁃tor productivity is based on the corporeal and intellectual capital threshold.Only after the firm's corporeal capital and intellectual capital crossing the threshold can intelligent transformation help improve total factor productivity of enterprises significantly.This re⁃search refines the theoretical research on the relationship between intelligent transformation,total factor productivity of enterprises and resource based,providing practical suggestions for the evaluation of the effect of intelligent transformation and the formulation of government policies.