The Impact of Digital Transformation on Enterprise Operational Capacity Based on the Moderating Effect of Supplier Collaboration
DOI:
https://doi.org/10.54097/5wvyxf86Keywords:
Digital transformation, Enterprise operational capacity, Supply chain concentration.Abstract
As the technological revolution and industrial transformation deepen, the digital economy has become a major force behind high-quality economic growth. The 20th National Congress of the Communist Party of China called for faster development of the digital economy, deeper integration with the real economy, and the creation of globally competitive digital industry clusters. However, at the firm level, how to use digital tools to improve operational capacity remains an open question. Based on transaction cost theory, this study constructs a digital transformation index using textual analysis and applies a two-way fixed-effects model for empirical testing. To identify the transmission channel, we examine the mediating role of supply chain concentration. We also explore heterogeneity by ownership type, geographic location, and firm size through subgroup regressions. A series of robustness checks are performed. Results show that digital transformation significantly enhances operational capacity, a finding that holds across robustness tests. Further analysis reveals that supply chain concentration acts as a significant mediator. Heterogeneity analysis indicates that the positive effect is stronger in non-state-owned, large-scale, and non-coastal firms. This paper not only reveals how digital transformation affects operational efficiency but also contributes to the digital economy and working capital management literature. It provides empirical evidence and practical guidance for firms seeking to optimize supply chain structures and improve operational performance through digital means.
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