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Digital Transformation and Enterprise Innovation—Empirical Evidence from Listed Companies in China

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DOI: 10.23977/ferm.2023.060402 | Downloads: 47 | Views: 662


Liu Hongfu 1


1 College of Economics, Guangxi University, Nanning, Guangxi, China

Corresponding Author

Liu Hongfu


Under the tide of digital economy, digital transformation has become the only way for enterprises to develop with high quality. At the same time, as China's economic development mode gradually changes from resource-driven to technology-driven, the improvement of technological innovation capability of enterprises has become urgent. Can the digital transformation of enterprises promote the innovation of enterprises? Based on the text analysis of the annual reports of listed companies in China from 2011 to 2020, the panel fixed effect model and other methods are used to study and find that the digital transformation of listed companies significantly promotes enterprise innovation. The conclusion is still valid after a series of robustness tests. The conclusion can provide reference for enterprises to make decisions on digital transformation, the government to issue relevant guiding policies on digital transformation, and to deepen the research on the impact of enterprise innovation factors.


Digital transformation; Enterprise innovation; Text analysis


Liu Hongfu, Digital Transformation and Enterprise Innovation—Empirical Evidence from Listed Companies in China. Financial Engineering and Risk Management (2023) Vol. 6: 8-16. DOI:


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