A Study on the Impact of Digital Transformation on the Innovation Transformation Efficiency of Specialized and Sophisticated SMEs and Its Internal Mechanisms

Yang Qu

doi:10.54097/w5pc4n40

Authors

Yang Qu

DOI:

https://doi.org/10.54097/w5pc4n40

Keywords:

Digital Transformation, Innovation Transformation Efficiency, Specialized and Sophisticated SMEs

Abstract

Digital transformation, as a crucial engine for high-quality economic growth, is increasingly drawing attention to its impact on corporate innovation activities. Specialized and sophisticated SMEs, as a vital component of the national innovation system, are actively integrating into the digital wave, with digital transformation being key to enhancing their competitiveness. However, these enterprises also face unique resource challenges in the process of digital transformation, and whether their digital investment can effectively promote the transformation of innovative achievements into corporate profits is worth exploring in depth. Using Chinese A-share market specialized and sophisticated SMEs from 2018 to 2022 as the research subject, this paper empirically examines the impact of digital transformation on innovation transformation efficiency. The study reveals that digital transformation has a significant inhibitory effect on innovation transformation efficiency. Financing constraints play an intermediary role in this relationship. Cash holding level, proportion of technical department employees, and R&D investment intensity can all significantly weaken the negative impact of digital transformation.

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