High-tech Enterprises Research Articles

Dynamic competition in the digital darwinism: focal firms responding to competitors’ digital transformation

ABSTRACT The fierce dynamic competition in the digital age has led to digital Darwinism. Under pressure from the digital transformation of their competitors, focal firms must adjust their situation to cope with digital Darwinism. Based on the awareness-motivation-capability (AMC) framework, this study uses Chinese high-tech enterprises listed from 2012 to 2022 as the research sample. Results show that the digital transformation of the competitors and the motivation of the focal firms (competitive industry environment) significantly promote the digital transformation of the focal firms, whereas the awareness (relative scale) and ability (financing constraints) of the focal firms have the opposite effect. This research contributes to investigations on the mechanisms of the digital transformation of counter pairs within the industry by using the AMC framework.

Can the Reform of the Commercial System Enhance the Resilience of Enterprises? Evidence Based on Quasi Natural Experiments

Enterprise resilience refers to the capacity of businesses to effectively respond to crises and achieve sustainable development over the long term. It serves as a crucial assurance for businesses to attain high-quality growth. The current worry among policy makers and academia revolves around the impact of commercial system change on the resilience of firms. This article examines the reform of the commercial system as a “quasi natural experiment” by comparing manually collected data on the reform with data on Chinese A-share listed companies from 2011 to 2022. It thoroughly analyses the effects and mechanisms of the reform on corporate resilience. The research findings suggest that implementing reforms in the commercial system can improve the ability of firms to withstand and recover from challenges. This is primarily accomplished by decreasing limitations on obtaining funding, minimising expenses associated with institutional transactions, and strengthening the capacity for technological innovation. This conclusion remains strong and reliable even after conducting a series of experiments to ensure its robustness and addressing any potential issues related to endogeneity. Furthermore, the reformation of the commercial system has a more potent impact on bolstering the resilience of private firms, large-scale enterprises, highly competitive enterprises, and high-tech enterprises. The research findings of this article have significant implications for advancing the reform of the commercial system, strengthening enterprise resilience, and achieving high-quality development of firms.

Government R&D subsidies, bank credit and the innovation efficiency of high-tech enterprises

This study focuses on Chinese high-tech listed enterprises spanning from 2010 to 2022, aiming to explore the primary impact of government R&D subsidies on their innovation efficiency. Our findings indicate that these subsidies effectively enhance the innovation efficiency of high-tech enterprises. Furthermore, bank credit serves as a positive intermediary between government subsidies and improved innovation. Notably, R&D subsidies tend to have a greater impact on enhancing innovation efficiency in private enterprises compared to state-owned enterprises.

Does the judicial independence affect foreign investment? Evidence from China

This study empirically investigates the role of judicial independence in facilitating the entry of foreign-invested enterprises in China. Utilizing the judicial independence reform since 2014 in China as a quasi-experiment, we conduct a difference-in-difference (DID) strategy to estimate the effects of judicial independence on the influx of foreign investment and the underlying mechanisms. The findings suggest that bolstering judicial independence can significantly promote the entry of foreign investment. The yearly numbers of newly-registered foreign-invested enterprises increase by around 17.8 % in pilot cities. Judicial independence enhances the quality of adjudication that amplifying the protection of corporate property rights, consequently attracting foreign investment. Further analysis shows that bolstering judicial independence also causes structural change of foreign investment, including an increase in the proportion of small and medium-sized, sole proprietorship, high-tech enterprises, and enterprises from developed countries.

Construction and Analysis of New Quality Productivity Evaluation Index System in Shanghai

The development of new quality productivity is a significant strategic decision focused on high-quality economic development. Shanghai, as an influential international metropolis, leads the nation in scientific innovation, technological innovation, and industrial innovation, playing a pioneering and demonstrative role in promoting new quality productivity. This paper constructs an evaluation index system by collecting relevant data on new quality productivity from authoritative websites and integrating these data to present and analyze the evaluation index system for new quality productivity in Shanghai. The constructed evaluation index system comprises four primary indicators: scientific and technological innovation, industrial development, talent, and green development, along with corresponding secondary indicators. The study reveals that although there is room for improvement in innovation efficiency in Shanghai, the city shows a positive development trend in new quality productivity, particularly in the number of high-tech enterprises and investment in scientific research. This paper aims to provide a comprehensive understanding of the development status of new quality productivity in Shanghai and offer reference value for analyzing new quality productivity nationwide.

Research on the Impact of Digital Transformation on Total Factor Productivity of Manufacturing Enterprises

Using a dataset of Chinese A-share manufacturing listed companies from 2007 to 2022, this study constructs an enterprise digitalization index based on annual report text data and empirically investigates the impact of digital transformation on the Total Factor Productivity (TFP) of manufacturing enterprises in China. The findings reveal that digital transformation significantly enhances the TFP of manufacturing enterprises through various mechanisms, including stimulating innovative product research and development, fostering innovation capabilities, optimizing resource allocation, and upgrading human capital. Moreover, the study explores the heterogeneity of this impact across different regions and enterprise levels. It is observed that the positive effect of digital transformation is more pronounced for enterprises in the eastern region compared to those in the central and western regions. High-tech enterprises experience a more significant impact than low-tech enterprises, and the effect is more substantial for non-state-owned enterprises compared to state-owned enterprises. Additionally, the impact is more pronounced for enterprises in the growth and maturity stages than for those in the decline stage. This paper also integrates theory with practical reality, offering policy recommendations relevant to manufacturing industry.

Digital transformation as a catalyst for green innovation: An Examination of high-tech enterprises in China's Yangtze River Delta

Green innovation represents a foundational strategy for companies aiming for sustainable and superior growth. In the digital economy landscape, rapid advancements in digital technologies provide enterprises with renewed momentum for progression. Nevertheless, there is scant empirical evidence supporting its efficacy in enhancing environmentally responsible corporate innovation. In the present study, utilising the resource-based view, data were gathered from 571 high-tech firms in China's Yangtze River Delta via surveys. Through hierarchical regression analysis, the interaction between digital transformation and green innovation was examined, taking into account the moderating effect of market-driven environmental pressures. The results indicate that digital transformation substantially promotes green innovation, and this relationship is further positively affected by the presence of market-driven environmental pressures. The present research contributes to the enhancement of green innovation theories and broadens the scope of digitalization research, providing valuable insights for advancing a green, low-carbon circular economy in the digital context.

Synergizing AI and business: Maximizing innovation, creativity, decision precision, and operational efficiency in high-tech enterprises

The study was conducted on 125 US based high-tech firms from software engineering, hardware production, biotechnology, and telecommunications. Senior-level executives, including CEOs, board members, and CTOs, provided insights through structured questionnaires. Key findings indicate that AI adoption significantly enhances organizational capabilities in terms of employees’ innovation, creativity, and experimentation. Moreover, AI adaptation positively impacts decision making thus yielding more accurate and timely valuable decisions. These findings contribute to both theoretical understanding and managerial practice by guiding strategic investments in AI technologies, fostering innovation, and advocating for ethical AI deployment practices. Future study should examine longitudinal impacts across industries and regions to optimize benefits and minimize risks in digital transformation efforts. It should also integrate qualitative methods for deeper insights and appropriate AI governance systems.

The impact of digital transformation on enterprise export resilience: Evidence from China

External shocks have negatively affected trade activities around the world, how to improve the enterprise's anti-risk ability to external shocks has gained widespread attention. This study explores whether and how the digital transformation affects enterprise export resilience after the 2008 financial crisis. By expanding an export growth model and utilizing a merged dataset from the Chinese customs trade and A-share listed company database, we find that digital transformation significantly enhances export resilience, and this effect is more prominent in private enterprise as well as high-tech enterprise types. The mechanism analysis shows that digital transformation promotes enterprise export resilience through cost reduction and demand diversification channels. In addition, the effect of digital transformation is more evident on enterprises exporting to high-income countries. Furthermore, this paper finds that the smart city pilot policy has strengthened the promoting effect of digital transformation on enterprise export resilience. These findings shed insights into the relationship between the digital transformation and enterprise's export behavior in the post-crisis era.

Intersection of the digital economy, redundant resources, and enterprise innovation: Unveiling the significance of Firm's resource consumption in China

In the era of the digital economy, the significance of green technological innovation for enterprises' sustainable development is pivotal. Effectively utilizing redundant resources is crucial to enterprises' sustainable development and innovation. Given this, we explore the impact of the digital economy and redundant resources on enterprises' green technology innovation. It uses a double fixed-effects model on the enterprise-level data of the Shanghai and Shenzhen stock exchanges from 2013 to 2021. The study shows that developing the digital economy can significantly enhance enterprises' green technology innovation. The effect is more obvious in high-tech enterprises, non-heavily polluted enterprises, enterprises in the eastern region, and non-state-owned enterprises. It also test the mediating effect of redundant resources and find that the digital economy can help enterprises exploit unabsorbed redundant resources, absorbed redundant resources, and organizational redundant resources, reduce the negative impacts of redundant resources on enterprises, and enhance their level of green technological innovation. It offer valuable policy suggestions.

Investor attention and environmental performance of Chinese high-tech companies: the moderating effects of media attention and coverage sentiment

In the context of China’s rapid economic development, corporate pollutant emissions are increasing, underscoring the imperative for further enhancement of corporate environmental performance. Given the significance of high-tech enterprises in the environmental domain, this study examines the impact of investor attention on the corporate environmental performance of Chinese high-tech enterprises. This study utilized data from 463 high-tech enterprises in mainland China from 2011 to 2022 and employed the dynamic panel generalized method of moments (GMM) technique. The findings indicate that investor attention has a negative impact on the corporate environmental performance of high-tech enterprises. This research also finds that both media attention and coverage sentiment mitigate the negative relationship between investor attention and environmental performance of high-tech firms. Heterogeneity analysis reveals that in the sample of IT service industry, heightened media attention exacerbates the negative impact of investor attention on corporate environmental performance, and media coverage sentiment exhibits no significant moderating effect. Within samples of non-polluting and state-owned enterprises, increased media coverage sentiment amplifies the negative impact of investor attention on corporate environmental performance. This paper suggests that policymakers should foster a media environment that supports accurate and thorough environmental reporting while businesses should proactively engage with media to align investor perceptions with sustainable environmental practices.

Revealing academic networks’ impact: driving innovation in Chinese high-tech enterprises

ABSTRACT Innovation is a critical aspect in China’s development as a great modern socialist country and in realizing its second-century goals. As key decision-makers in enterprises, the academic network resources carried by senior executives are seldom noticed. This study is going to explore whether senior executives’ academic network relationships (i.e. senior executives are or were employed by universities or research institutions) will spur corporate innovation performance. Drawing on panel data from Chinese A-share high-tech listed companies from 2014 to 2021, the study examines this relationship through multiple linear regression analysis and investigates the mediating role of R&D manipulation in this connection. The results of the study show that the more academic network relationships embedded in senior executives, the better the high-tech firms’ innovation performance. Additionally, R&D manipulation serves as an intermediary factor between senior executives’ academic network relationships and corporate innovation performance. Furthermore, when these individuals hold key positions and have a higher level of academic background, the facilitating effect of senior executives’ academic network relationships is more pronounced. This study broadens the application scope of social network theory and provides valuable insights for high-tech companies aiming to augment their knowledge-based innovation performance and refine their managerial recruitment strategies.

Risk-Conscious Project Management at High-Tech Enterprises

Risk-Conscious Project Management at High-Tech Enterprises

Assessing the Efficiency of Business Processes at High-Tech Enterprises

Assessing the Efficiency of Business Processes at High-Tech Enterprises

New Trends and Countermeasures in the Global Supply Chain Evolution of Chinese High-Tech Enterprises in the U.S.-China Game and the Post-Epidemic Era

New Trends and Countermeasures in the Global Supply Chain Evolution of Chinese High-Tech Enterprises in the U.S.-China Game and the Post-Epidemic Era

Does Sino-US trade friction hurt corporate resilience? Evidence from Chinese enterprises

As the world’s largest foreign trading country, China has faced numerous trade investigations in recent years. We select panel data from China’s manufacturing A-share listed companies from 2012 to 2021 to explore the impact of Sino-US trade friction on corporate resilience and its internal mechanisms. The results show that: (1) The intensification of Sino-US trade friction significantly reduces the resilience of Chinese microenterprises. This conclusion remains robust after a series of tests using PSM-DID and other methods. (2) Heterogeneity analysis shows that the resilience of export enterprises, high-tech enterprises, and enterprises in developed regions are more severely impacted by Sino-US trade friction. (3) Mechanism tests reveal that Sino-US trade friction damages enterprise resilience mainly through three channels: damaging the spirit of entrepreneurs, reducing internal operating profits, and exacerbating external financing constraints. The results provide theoretical and empirical support for understanding the survival effects of microeconomic entities under the impact of Sino-US trade friction.

Enterprise Digital Transformation and Environmental Performance

The need to improve corporate environmental performance has emerged as a crucial and urgent study topic as the world's pollution and climate challenges get worse. This trend has taken on new meaning and importance in light of the expanding digital economy and digital transformation. Using financial and associated data from 2009 to 2021 as the sample, this research empirically studies the link between digital transformation, green innovation, and environmental performance with a focus on China's A-share listed enterprises. According to the study's findings, digital transformation may improve a company's environmental performance by strengthening its capacity for green innovation. Furthermore, heterogeneity analysis shows that the effect of digital transformation in enhancing environmental performance is more prominent in high-tech enterprises, non-heavy polluting companies, and organizations with a greater percentage of party members in senior management.

Digital transformation of enterprises empowers the development of new productive forces of enterprises

Based on the data of financial statements of A-share listed companies from 2015 to 2022 and ESG index data of Huazheng Company, this paper empirically analyzes the effect and mechanism of digital transformation on the new quality productive forces of enterprises. The results show that digital transformation can significantly promote the improvement of the new quality productive forces of enterprises, and the results are still valid after dealing with endogenous problems, eliminating special years and changing cluster test. Heterogeneity analysis shows that from the perspective of enterprise nature, the digital transformation of state-owned enterprises and high-tech enterprises has a more significant role in promoting the new quality productive forces of enterprises. The mechanism research shows that digital transformation can promote ESG practice of enterprises, and then promote the improvement of new quality productive forces level of enterprises. Therefore, it is proposed to accelerate the green transformation of enterprise development mode, promote the digital transformation of enterprises and corporate social responsibility governance by institutional supply, and strengthen the empowerment effect of internal governance of digital technology, hoping to provide useful reference for the development of new quality productive forces of enterprises.

Research on the impact of digital transformation on the high-quality development of enterprises

In recent years, under the background of mass entrepreneurship and innovation, China has vigorously promoted the digital transformation of enterprises. Taking A-share listed companies in Shanghai and Shenzhen Stock exchanges from 2012 to 2022 as samples, this paper empirically tests the relationship between corporate digital transformation and high-quality development of enterprises. At the same time, the internal control of enterprises and the degree of financing constraints play a regulatory role between digital transformation and high-quality development of enterprises; In the samples with different ownership nature and whether they are high-tech enterprises, the effect of enterprise digital transformation on the high-quality development of enterprises is different.

Empirical Analysis of the Impact of Human Capital on Corporate Digitalization

Using panel data from A-share listed companies between 2007 and 2021, this study empirically examines the theoretical mechanisms through which human capital influences the digitalization of Chinese enterprises. The findings reveal that upgrading corporate human capital effectively empowers the digitalization of Chinese firms, a conclusion that is robust across a series of tests. Mechanism analysis indicates that the enhancement of human capital primarily facilitates corporate digitalization through improvements in R&D innovation and management levels. Heterogeneity analysis shows that the positive impact of human capital upgrading on corporate digitalization is more pronounced in the eastern and central regions, technology-intensive firms, and high-tech enterprises. These conclusions provide valuable insights for further promoting corporate human capital enhancement and digitalization.