A Research on Driving Factors of China’s Digital Technology Innovation and the Evolution of Factors Based on Technology Cycles

Abstract

Digital technology is a technology system with multiple technology elements compounded and integrated, and is the fundamental driving force of the new round of technological revolution and industrial change, but the factors driving its innovation are highly complex and dynamic. In order to clarify how the internal and external factors of enterprises drive digital technology innovation, and to clarify the laws of digital technology innovation. Using contribution index and logistic model, this paper empirically analyzes the driving factors that may affect digital technology innovation in China based on financial data, patent data, R&D investment data, and corresponding industry data of 214 listed enterprises in three digital technology fields of computer manufacturing, intelligent equipment manufacturing, and electronic components manufacturing in China during 2008-2020. The results show that: overall, enterprise size is one of the key factors determining digital technology innovation in China, while market competition and industrial structure are the key external factors affecting digital technology innovation in China; market competition has a greater impact on digital technology innovation in private enterprises than state-owned enterprises; high-tech industries are more dependent on the gathering of talents brought by education than non-high-tech industries; computer manufacturing technology mainly goes through the maturity period, while intelligent equipment manufacturing technology is mainly in the growth period, and the innovation activities of these two technologies receive more influence from the market environment; electronic components and their equipment manufacturing technology are more dependent on the internal innovation base of enterprises and the effective allocation of capital and talents in both the budding and growth periods. These results provide useful insights for China to develop differentiated guiding policies in digital technology innovation according to the nature of enterprises and industry attributes.