数字化转型的溢出效应:扩散还是虹吸?OA北大核心CHSSCDCSSCICSTPCD

Strengthening leading enterprises and unlocking the advantages of the upstream and downstream industry chains to release digital dividends is crucial for achieving full-chain digitalization and modernization within and across industries.Therefore,exploring the digital spillover effect from the dual perspectives of industry-leading enterprises and upstream and downstream enterprises in the industrial chain can help understand digital transformation comprehensively. Based on the theories of diffusion of innovations and externality,this paper summarizes how the digitalization of industry-leading enterprises and upstream and downstream enterprises in the industrial chain facilitates or hinders the transformation of focal enterprises.Using data from Chinese listed companies and input-output tables from 2011 to 2021,the paper empirically analyzes the impact of digitalization on the transformation of focal enterprises and the underlying mechanism. The findings show that the digitalization of industry-leading enterprises and upstream and downstream enterprises in the industrial chain facilitates the transformation of focal enterprises,and this effect is more significant in upstream enterprises.This conclusion remains robust after using instrumental variable methods,changing the definition of industry-leading enterprises,and replacing the input-output relationship coefficient.Mechanism analysis reveals a diffusion effect.Industry-leading enterprises and upstream and downstream enterprises in the industrial chain promote the digital transformation of focal enterprises through management decision-making cohort effect and knowledge spillover effect.It also uncovers a siphon effect.Downstream enterprises attract R&D talent from focal enterprises,while industry-leading enterprises acquire digital capital from focal enterprises.Heterogeneity analysis indicates that the digital spillover effect of inter-industry industrial chains is more pronounced in non-state-owned enterprises and the manufacturing industry.In addition,market segmentation hinders the digital spillover of the upstream industry chain.The spillover in the Pearl River Delta is primarily intra-industry and downstream,while it is predominantly intra-industry in the Beijing-Tianjin-Hebei region. This research has important implications for industry-leading enterprises,industry chain synergy,and the development of modern industrial systems.On the one hand,it underscores the need to foster industry-leading enterprises,leverage the lighthouse effect of digitalization,and enhance the synergy between the upstream and downstream enterprises in the industrial chain.On the other hand,it also highlights the importance of decision-making and knowledge diffusion at the management level,the potential of the digital spillover effect,and the cultivation of a digital talent team to optimize the allocation of digital capital.These insights are highly relevant and applicable in digital transformation and industrial economics.