Theoretical researchers have regarded digital transformation as a holistic concept and studied its impact on technological innovation, neglecting the decomposability of digital transformation and the process nature of complex enterprise systems.Thus, the specific mechanisms by which the digital transformation promotes technological innovation await further analysis.Among them, digital knowledge management is the primary link in digital transformation.On the one hand, the main content of digital transformation includes organizational change, business processes, products and services, business models, etc.At the organizational level, digital transformation involves the transformation of key business operations, which in turn affect products and processes, causing changes in business models.On the other hand, digital transformation needs to be centered on digital knowledge management to achieve organizational structure flattening, flexibility, networking, and virtualization, thereby achieving organizational change.Therefore, enterprise digital knowledge management, as a determinant of organizational change, affects the business processes, products and services, and business model innovation of digital transformation.#br#The article proposes the concept of digital knowledge management, studies its impact on technological innovation in manufacturing enterprises, and analyzes its role mechanism from the perspective of dynamic capabilities.On the one hand, digital transformation is a holistic concept of enterprise digital transformation.Digital knowledge management is the primary link in digital transformation, as well as its foundation and logical starting point.On the other hand, the significant feature of knowledge management is informatization, and digital knowledge management bears intelligent and platform-based characteristics.In addition, dynamic capabilities are the theoretical basis for studying digital transformation.As the primary link in digital transformation, digital knowledge management promotes the formation of dynamic capabilities through digital technology in knowledge acquisition, integration, absorption, application and innovation, enhancing the technological innovation capabilities of enterprises.〖HJ*2/7〗#br#Taking the manufacturing enterprises listed on the Shanghai and Shenzhen A-share market from 2007 to 2021 as the sample, this article extracts the root keywords of digital knowledge management through literature, and then uses the information about digital knowledge management in the annual reports of listed companies to expand keywords with the help of machine learning algorithms, thereby constructing a proxy variable for digital knowledge management through the frequency of keyword occurrence.It is found that digital knowledge management has a significant positive impact on technological innovation in enterprises.After mitigating the endogeneity problem through instrumental variables, PSM, and Heckman two-stage model methods, the results are still significant.This impact is mainly through the absorption, adaptation, and innovation capabilities paths.#br#The conclusions of this study have specific reference value for the digital transformation practices of manufacturing companies.First, the foundation of digital transformation lies in digital knowledge management.Manufacturing companies can use digital technology to transform traditional knowledge management into digital knowledge management that is intelligent, platform-based, and can structure unstructured knowledge and make implicit knowledge explicit.This enhances their ability to acquire, integrate, absorb, apply, and innovate knowledge and promotes the level of technological innovation.Second, the companies should proactively build dynamic capabilities.By actively identifying, acquiring, applying, and transforming external market knowledge through digital knowledge management, companies can provide market information and knowledge feedback to the R&D department, enabling researchers to improve processes and designs based on customer needs and develop products that better meet customers' personalized and customized demands.To ensure the improvement of dynamic capabilities, companies should not only build a digital knowledge management system but also maintain strategic focus, concentrate advantageous resources to achieve strategic goals, especially in selecting a strategic path, i.e., choosing one of the service-oriented, digital, or digital service-oriented strategies.Additionally, in the context of manufacturing industry transformation and economic uncertainty, companies should carefully choose a diversified strategy.#br#In summary, this article reveals the positive impact of digital knowledge management on technological innovation in manufacturing companies and its mechanism.The research conclusions provide new ideas and methods for corporate digital transformation and contribute to the development of dynamic capability theory.In the future, more research can be conducted to explore digital knowledge management and its impact on different industries and countries.#br#
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