Mystery of special government subsidies: How does digital transformation promote enterprise innovation and development?

Yang, Yuhan; Zhang, Chong; Liu, Baoliu; Huang, Yujie; Tai, Yafei

doi:10.1016/j.eap.2024.06.003

Economic Analysis and Policy

2024

DOI: 10.1016/j.eap.2024.06.003

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Mystery of special government subsidies: How does digital transformation promote enterprise innovation and development?

Yuhan Yang,

Chong Zhang,

Baoliu Liu

et al.

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2024

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Cited by 4 publications

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A study on the impact of enterprise digital transformation on informed trading

Wang

2024

PLoS ONE

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Informed trading, driven by information asymmetry and market imperfections, varies in presence across markets. This form of trading not only distorts market transaction prices and hinders resource allocation but also initiates adverse selection transactions, increasing liquidity risks and potentially precipitating market crashes, thereby impeding the market’s healthy development. Utilizing information asymmetry theory and principal-agent theory, this paper analyzes data from A-share listed companies from 2011 to 2022. Employing a fixed-effect model, it empirically examines the influence of enterprise digital transformation on the likelihood of informed trading. The findings demonstrate that enterprise digital transformation markedly reduces the likelihood of informed trading. Further analysis of heterogeneity indicates that, compared to state-owned, non-high-tech enterprises and enterprises in the western region, the inhibitory effect on informed trading is more pronounced in non-state-owned, high-tech enterprises and enterprises in the eastern and central regions. Additionally, the chain mediation effect underscores that digital transformation weakens information asymmetry and strengthens internal controls, thereby reducing informed trading. Finally, employing a dynamic panel threshold model we find that digital transformation can only significantly inhibit the informed transactions when enterprises have reached a certain level of technological and asset accumulation.

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A study on the impact of enterprise digital transformation on informed trading

Wang

2024

PLoS ONE

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How Government Subsidies Facilitate the Digital Transformation of Suppliers

Hao,

Chen,

Wang

2024

Sustainability

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Digital transformation is increasingly recognized as a key driver of sustainable development, enabling suppliers to improve efficiency, reduce resource consumption, and adapt to changing market demands. However, it remains a challenging process for suppliers, often hindered by resource and capacity constraints. This study investigates how government subsidies can facilitate supplier digital transformation, considering supply chain diffusion and local government competition dynamics. Using data from A-share listed companies in China between 2010 and 2021, our analysis reveals that government subsidies significantly promote supplier digital transformation by encouraging a more diversified downstream customer base. Moreover, customer digital transformation can facilitate supplier digital transformation, but spillover effects are higher within the same jurisdiction than across different jurisdictions. This study further identifies that the impact of government subsidies is more pronounced under higher opportunistic risk but is constrained by systemic risk. Additionally, suppliers with higher human capital and a smaller digital divide with customers exhibit greater effectiveness in adopting innovation diffusion. These findings provide valuable insights into optimizing local government subsidies policies to enhance supplier digital transformation and contribute to the broader goal of sustainable development.

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Corporate Digital Transformation and the Internationalization of R&D

Li,

Zhang

2024

Sustainability

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In the context of digital transformation and economic globalization, R&D (research and development) internationalization is essential for enterprises to utilize global resources and achieve technological innovation. This study examines Chinese A-share-listed industrial companies with active overseas R&D from 2010 to 2022 using a Poisson panel fixed-effects model to assess how digital transformation influences R&D internationalization. The findings confirm that digital transformation significantly enhances the depth and breadth of R&D internationalization, even when controlling for endogeneity. The analysis identifies financing constraints and information communication efficiency as key mediators in this process. Additionally, the impact varies by the type of digital technology and the geographical location of the enterprises. This research not only deepens understanding of the link between digital transformation and R&D internationalization but also aids policy formulation for governments and businesses.

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Mystery of special government subsidies: How does digital transformation promote enterprise innovation and development?

Cited by 4 publications

References 57 publications

A study on the impact of enterprise digital transformation on informed trading

A study on the impact of enterprise digital transformation on informed trading

How Government Subsidies Facilitate the Digital Transformation of Suppliers

Corporate Digital Transformation and the Internationalization of R&D

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