Research Article
Digital Innovation Awareness, Innovation Investment and Enterprise Digital Transformation
@INPROCEEDINGS{10.4108/eai.24-5-2024.2350089, author={Mingyang Xu and Dan Guo}, title={Digital Innovation Awareness, Innovation Investment and Enterprise Digital Transformation}, proceedings={Proceedings of the 3rd International Conference on Mathematical Statistics and Economic Analysis, MSEA 2024, May 24--26, 2024, Jinan, China}, publisher={EAI}, proceedings_a={MSEA}, year={2024}, month={10}, keywords={digital innovation consciousness; innovation investment; enterprise digital transformation}, doi={10.4108/eai.24-5-2024.2350089} }- Mingyang Xu
Dan Guo
Year: 2024
Digital Innovation Awareness, Innovation Investment and Enterprise Digital Transformation
MSEA
EAI
DOI: 10.4108/eai.24-5-2024.2350089
Abstract
The digital innovation consciousness of top executives plays a key role in guiding companies' digital transformation strategy. This consciousness is likely to impact the company's investment in innovation and the success of its digital transformation. This research empirically explores the link between awareness of digital innovation, investment in innovation and business digitalization, using a sample of listed A shares from 2007 to 2022, a total of 33,536 samples. The research employs fixed-effects and mediation-effect models to analyze the mechanism of this relationship. The results show that awareness of digital innovation has a considerable contribution to the digital transformation of companies. Innovation investment plays the role of mediator between digital innovation consciousness and digital transformation of companies. The impact of awareness of digital innovation and innovation investment on digital transformation of businesses is more significant in the Northeast and Eastern regions than in other regions. Companies with a high market value have stronger digital innovation consciousness. High-tech industry enterprises have stronger digital innovation consciousness, and large-scale enterprises have a greater impact on digital transformation than small businesses. Executives with overseas experience have more influence on digital transformation than those without.