Customer Digital Transformation and Total Factor Productivity of Enterprises: An Analysis from the Perspective of Technological Progress and Factor Reset
Customer Digital Transformation and Total Factor Productivity of Enterprises: An Analysis from the Perspective of Technological Progress and Factor Reset
WANG Jiao1, WANG Fanlin1, YU Yao2
1. School of Accounting, Capital University of Economics and Business, Beijing, 100070, China; 2. Chinese Academy of Fiscal Sciences, Beijing, 100142, China
Abstract Based on the top five customer data of Chinese A-share listed companies in Shenzhen and Shanghai, this paper examines the impact of customer digital transformation on total factor productivity from the perspective of technological progress and factor reset. The study shows that customer digital transformation has a positive spillover effect on enterprise total factor productivity, which is still valid after a series of robustness tests.The function channel test indicates that the improvement of enterprise total factor productivity benefits from the enterprise technological progress promoted by customer digital transformation and the reset enterprise production factors.From the perspective of technological progress, customer digital transformation has promoted the total factor productivity of enterprises by forcing them to apply digital technology, transform internet business models, use modern information systems, increase capital investment in innovation, improve innovation efficiency, and increase invention and design patents. From the perspective of factor reset, customer digital transformation improves enterprise total factor productivity by improving asset utilization and asset iteration rate, increasing labor costs and optimizing labor structure. Heterogeneity test reveals that the positive spillover effect of customer digital transformation exists significantly in the samples of state-owned enterprises, non-high-tech enterprises and geographically distant enterprises.This paper provides empirical evidence of both glory and prosperity for enterprises in the upstream and downstream of the supply chain.From the perspective of supply chain spillover, the study further verifies that Solow Paradox is not established, and finds that there is an internalized intrinsic effect of digital spillover in supply chain, which has practical significance and theoretical value.
WANG Jiao,WANG Fanlin,YU Yao. Customer Digital Transformation and Total Factor Productivity of Enterprises: An Analysis from the Perspective of Technological Progress and Factor Reset. Economic Survey, 2023, 40(6): 083.
2023, Vol. 40 
