|
|
|
| Can the Digital Economy Improve the Quality of Enterprise Innovation？ A Perspective Based on the Neo-Schumpeterian Growth Theory |
| Song Jing1,Chen Lianghua 2,Ye Tao1 |
| (1.School of Business, Macao University of Science and Technology, Macao 999078, China; 2. School of Economics and Management, Southeast University, Nanjing 210000, China) |
|
|
|
|
Abstract According to the World Intellectual Property Organization (WIPO), the number of patent applications in China has ranked first in the past decade, but the problems of the "patent bubble" and "innovation illusion" are prominent. The proportion of high-quality patents needs to be improved, and the strength of support provided by patents for industrial transformation and the coupling effect on the real economy are not obvious. Therefore, how to effectively boost the digital economy to achieve high-quality innovation for enterprises has been discussed in the academic community and industry in recent years.#br#The existing literature provides a theoretical reference for this study, and the relevant theories cover the micro-effect of the digital economy and the factors of enterprise innovation quality,but they lack research from the perspective of innovation quality, and rarely discuss its impact mechanism. Patent application may be the choice of enterprises to cater to government subsidies and preferential policies, and enterprises may blindly pursue innovation quantity, leading to the phenomenon of "patent bubble" .#br#Instead of using the invention patent quantity to measure innovation quality, this paper adopts the patent knowledge-width as the agent index of enterprise innovation quality, and builds the index that makes a more comprehensive reflection of enterprise innovation quality for the subsequent evaluation of enterprise innovation quality and economic effect.#br#Against the backdrop of building the digital economy development system, this paper uses the sample the Chinese listed companies between 2011 and 2021 to analyze the influence of the digital economy on enterprise innovation quality. It is found that the firstly digital economy has improved enterprise innovation quality; secondly, external media attention, redundant resources and executive R&D experience will strengthen the positive relationship between the digital economy and enterprise innovation quality; further, the incentive effect of digital economy on enterprise innovation quality benefits from the upgrading of enterprise human capital and the improvement of research and development ability, and the heterogeneity analysis shows that the above relationship is more significant in the samples of non-state-owned enterprises and enterprises in the high-tech industry; finally, high-quality enterprise innovation can not only improve total factor productivity, but also improve enterprise value.#br#The deep integration of digital technology and the real economy is an inevitable trend for developing the digital economy in the future. Thus, the government should accelerate the formulation of reasonable policies for enterprise digital development, and effectively solve the problems of weak digital capabilities and high costs for enterprises.While for enterprises, it is necessary to make full use of the advantages of digital technology in allocating organizational resources, reduce costs and improve the human capital level, expand and strengthen patent R&D capability and technology supply, build a digital technology quality assessment system, and improve quality review standards to avoid “technology bubble”. The contribution of this paper is multi-fold. First, the paper enriches the research framework of the digital economy. This study makes an analysis of the influence mechanism and economic consequences of the digital economy on the innovation quality of enterprises from a multidimensional perspective, providing a new perspective for understanding digital innovation and releasing digital dividends. Second, it systematically discusses the internal influence of the digital economy on the quality of enterprise innovation in China, and unveils the mystery of innovation development driven by digital technology. Third, by clarifying the internal logic of the digital economy affecting enterprise innovation and development , the study is beneficial to reflect on the problems brought by the phenomenon of "bubble patent", so as to implement the diversified integration of digital technology and enterprise innovation, and then realize the strategic goal of innovation-driven development in China.#br#To sum up, this paper uses the width of patent knowledge to deepen the relationship between the digital economy and the two qualities of enterprise innovation, and complements the research framework of the influencing factors of enterprise innovation quality. It clarifies how the digital economy enables enterprises to achieve high-quality development and find answers to development dilemmas. The research provides some suggestions for promoting the development of enterprise innovation strategies and improving the quality and efficiency of the enabling economy.#br#
|
|
Received: 25 July 2022
|
|
|
|
|
|
[1] 黎文靖, 郑曼妮. 实质性创新还是策略性创新——宏观产业政策对微观企业创新的影响[J]. 经济研究, 2016,51(4): 60-73.
[2] 邱洋冬. 数字化变革与企业创新——知识来源视角[J]. 兰州学刊, 2022,43(7): 1-24.
[3] LI R, RAO J, WAN L. The digital economy, enterprise digital transformation, and enterprise innovation[J]. Managerial and Decision Economics, 2022,43(7): 2875-2886.
[4] XIAO T, MAKHIJA M, KARIM S. A knowledge recombination perspective of innovation: review and new research directions[J]. Journal of Management, 2022,48(6): 1724-1777.
[5] ZACH F J, NICOLAU J L, SHARMA A. Disruptive innovation, innovation adoption and incumbent market value: the case of Airbnb[J]. Annals of Tourism Research, 2020,80: 102-118.
[6] HANUSCH H, PYKA A. Principles of neo-Schumpeterian economics[J]. Cambridge Journal of Economics, 2007,31(2): 275-289.
[7] WINTER S G. Toward a neo-Schumpeterian theory of the firm[J]. Industrial and Corporate Change, 2006,15(1): 125-141.
[8] ACEMOGLU D, AKCIGIT U, ALP H, et al. Innovation, reallocation, and growth[J]. American Economic Review, 2018,108(11): 3450-3491.
[9] CIARLI T, KENNEY M, MASSINI S, et al. Digital technologies, innovation, and skills: emerging trajectories and challenges[J]. Research Policy, 2021,50(7): 1-10.
[10] WALLSTEN S. The competitive effects of the sharing economy: how is Uber changing taxis[J]. Technology Policy Institute, 2015,22: 1-21.
[11] 郭家堂, 骆品亮. 互联网对中国全要素生产率有促进作用吗[J]. 管理世界, 2016,32(10): 34-49.
[12] GOLDFARB A, TUCKER C. Digital economics[J]. Journal of Economic Literature, 2019,57(1): 3-43.
[13] DORE R. Technology policy and economic performance; lessons from Japan[J]. Research Policy, 1988,17(5): 309-310.
[14] NELSON R R. National innovation systems: a comparative analysis[M]. Oxford University Press , 1993.
[15] CHENHALL R H. Management control systems design within its organizational context: findings from contingency-based research and directions for the future[J]. Accounting, Organizations and Society, 2003,28: 127-168.
[16] BARBER B M, ODEAN T. All that glitters:the effect of attention and news on the buying behavior of individual and institutional investors[J]. The Review of Financial Studies, 2008,21(2): 785-818.
[17] LUO Y, XIONG G, MARDANI A. Environmental information disclosure and corporate innovation: the "Inverted U-shaped" regulating effect of media attention[J]. Journal of Business Research, 2022,146: 453-463.
[18] USMAN S M, BUKHARI F A S, USMAN M, et al. Does the role of media and founder's past success mitigate the problem of information asymmetry? evidence from a UK crowdfunding platform[J]. Sustainability, 2019,11(3): 692-716.
[19] NOWACKI C, MONK A. Ambidexterity in government: the influence of different types of legitimacy on innovation[J]. Research Policy, 2020,49(1): 1-18.
[20] 连燕玲, 叶文平, 刘依琳. 行业竞争期望与组织战略背离——基于中国制造业上市公司的经验分析[J]. 管理世界, 2019,35(8): 155-172.
[21] GRUBER M. Exploring the origins of organizational paths:empirical evidence from newly founded firms[J]. Journal of Management, 2010,36(5): 1143-1167.
[22] TROILO G, De LUCA L M, ATUAHENE GIMA K. More innovation with less? a strategic contingency view of slack resources, information search, and radical innovation[J]. Journal of Product Innovation Management, 2014,31(2): 259-277.
[23] WYNEN J, VERHOEST K, ONGARO E, et al. Innovation-oriented culture in the public sector: Do managerial autonomy and result control lead to innovation[J]. Public Management Review, 2014,16(1): 45-66.
[24] DRUCKER P.Innovation and entrepreneurship[M].Routledge,2014.
[25] SOLAL I, SNELLMAN K. Women don't mean business? gender penalty in board composition[J]. Organization Science, 2019,30(6): 1270-1288.
[26] 柳卸林, 高雨辰, 丁雪辰. 寻找创新驱动发展的新理论思维——基于新熊彼特增长理论的思考[J]. 管理世界, 2017,33(12): 8-19.
[27] SVENJA, C, SOMMER, et al. Managing complexity and unforeseeable uncertainty in startup companies: an empirical study[J]. Operations Research, 2009,20(1): 118-133.
[28] 张杰, 郑文平. 创新追赶战略抑制了中国专利质量么[J]. 经济研究, 2018,53(5): 28-41.
[29] 赵涛, 张智, 梁上坤. 数字经济、创业活跃度与高质量发展——来自中国城市的经验证据[J]. 管理世界, 2020,36(10): 65-76.
[30] KIM C, BETTIS R A. Cash is surprisingly valuable as a strategic asset[J]. Strategic Management Journal, 2014,35(13): 2053-2063.
[31] 黄群慧. 互联网发展与制造业生产率提升：内在机制与中国经验[J]. 中国工业经济, 2019,36(8): 5-23.
[32] NUNN N, QIAN N. US food aid and civil conflict[J]. American Economic Review, 2014,104(6): 1630-1666.
[33] LEWIS G B, CHO Y J. The aging of the state government workforce: Trends and implications[J]. The American Review of Public Administration, 2011,41(1): 48-60.
[34] 赵灿,刘啟仁. 税收政策激励与企业人力资本升级[J]. 经济研究, 2020,55(4): 70-85.
[35] SHI W, CONNELLY B L, CIRIK K. Short seller influence on firm growth: a threat rigidity perspective[J]. Academy of Management Journal, 2018,61(5): 1892-1919.
[36] LEVINSOHN J, PETRIN A. Estimating production functions using inputs to control for unobservables[J]. The review of Economic Studies, 2003,70(2): 317-341.
|
|
|
|
