数实融合对战略性新兴企业新质生产力的影响研究
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华侨大学

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福建省社会科学基金重点项目《新质生产力视角下优化营商环境重建民营企业投资信心的机制与路径研究》(FJ2025A031)


A study of the impact of digital-real integration on the new quality productivity of strategic emerging firms
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    摘要:

    战略性新兴企业实现数字经济与实体经济融合,是提升企业新质生产力的关键动力。采用2010年至2021年A股中战略性新兴企业为研究样本,实证研究了数实融合对战略性新兴企业新质生产力的影响。研究发现,数实融合能够显著促进战略性新兴企业新质生产力的形成,经过多种内生性及稳健性检验后,相关结果仍支持该结论。异质性分析结果表明,新型基础设施建设完善、知识产权保护水平高、科技人才集聚程度强以及环境规制严格的地区,数实融合对战略性新兴企业新质生产力的促进作用更强。机制分析表明,数实融合能以创新变革、供应链变革和战略变革为机制,促进战略性新兴企业新质生产力的形成。研究结论为战略性新兴企业进行数实融合和推动新质生产力发展提供了理论支持和实证依据。

    Abstract:

    The integration of digital economy and real economy by strategic emerging enterprises is a key driver to enhance the new quality productivity of enterprises. Using a sample of A-share listed strategic emerging firms from 2010 to 2021, this study empirically examines the impact of digital-substantive integration on the development of new quality productivity. The findings indicate that digital-substantive integration significantly promotes the formation of new quality productivity in these firms. This conclusion holds after addressing endogeneity concerns and conducting multiple robustness checks. Heterogeneity analysis reveals that the promoting effect of digital-substantive integration is stronger in regions characterized by well-developed new infrastructure, high levels of intellectual property protection, a strong concentration of scientific and technological talent, and stringent environmental regulations. Mechanism analysis further demonstrates that digital-substantive integration fosters new quality productivity through innovation transformation, supply chain restructuring, and strategic reform. These findings provide both theoretical support and empirical evidence for strategic emerging firms to advance digital-substantive integration and accelerate the development of new quality productivity.

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  • 收稿日期:2025-08-25
  • 最后修改日期:2025-08-25
  • 录用日期:2025-10-31
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