数字化水平、服务化战略与企业可持续成长

Digitalization Level,Servitization and Firms’Sustainable Growth

数字化引发企业向服务化战略转型的新趋势,成为获取持续竞争力的新源泉。从技术赋能和战略变革视角出发,考察数字化水平对企业可持续成长中短期绩效和长期价值的不同影响,同时探讨实施服务化战略的中介效应。研究结果表明:数字化水平与企业短期绩效存在负向影响关系,而与长期价值则呈正向关系;当数字化水平远高于当前水平时,才能达到对短期绩效的效应拐点;数字化水平越高,越能驱动企业实施服务化战略,且后者在数字化水平与企业可持续成长关系中发挥中介作用。同时,异质性分析发现:在非国有企业中上述结论依旧成立,而国有企业中却不成立;数字化水平越高,越可能抑制处于高增长阶段或先进制造业企业的短期绩效,但会明显促进处于低增长阶段或传统制造业企业的长期价值。研究结论有助于加深理解数字化水平影响企业可持续成长的现实情况和作用机制,丰富企业数字化领域研究成果。

The digitalization has led to a new trend of transformation towards servitization,which has emerged as a new means for firms to achieve sustainable competitiveness.From the perspective of technology empowerment and strategic change,it examined the impact of digitalization level on the firms’sustainable growth,discussed the mediating role of servitization.The results show that digitalization level inhibits the firms’short-term performance,but promotes the long-term value.When digitalization level is much higher than the current state,the inflection point of the impact on short-term performance is reached.Digitalization level drives the transformation to servitization,and the latter plays a mediating role in the relationship between digitalization level and the firms’sustainable growth.Simultaneously,the heterogeneity analysis finds that these findings is still valid in non-state-owned firms,but not in state-owned firms.Digitalization level inhibits the short-term performance at the high growth stage and advanced manufacturing industry,but significantly promotes firms’long-term value in the low growth stage and traditional manufacturing industry.It helps deepen the understanding of the reality and mechanism of the impact of digitalization level on the firms’sustainable growth,and enrich the research achievements in the field of firms’digitalization.