THE IMPACT OF DIGITAL TRANSFORMATION ON FIRM EXPORT
Keywords:
Digital transformation, Enterprise export, Two-way fixed model, Information factor theory, Transaction cost theoryAbstract
This study employs a two-way fixed effects model to analyze the impact of businesses' digital transformation on their exports, using panel data from Chinese A-share listed companies from 2013 to 2023. The results demonstrate that enterprises' digital transformation significantly enhances their export value. Heterogeneity analysis reveals that digital transformation significantly increases export value for firms in technology-intensive sectors and those situated in the eastern region; moreover, advancements in artificial intelligence, cloud computing, and practical applications considerably enhance firms' export value, while the effects of blockchain and big data are minimal. This study enhances the theoretical understanding of digital transformation and export trade, offering practical guidance for business digital strategy, government policy development, and the facilitation of international trade.References
[1] Kraus S, Palmer C, Kailer N, et al. Digital entrepreneurship: A research agenda on new business models for the twenty-first century. International Journal of Entrepreneurial Behaviour & Research, 2019, 25(2): 353–375. DOI:10.1108/IJEBR-06-2018-0425.
[2] Dang L, Li X, Shen S. Digital transformation of manufacturing industry and its export technology complexity. International Trade Issues, 2021(06): 32–47. DOI:10.13510/j.cnki.jit.2021.06.003.
[3] Fan X. Digital economy and exports: An analysis based on a heterogeneous stochastic frontier model. World Economic Research, 2021(02): 64–76+135. DOI:10.13516/j.cnki.wes.2021.02.005.
[4] Wang K, Wu G, Zhang G. Has the development of digital economy improved productivity. The Economist, 2020, 10(10): 24–34.
[5] Faber M. Robots and reshoring: Evidence from Mexican labor markets. Journal of International Economics, 2020, 127(10): 33–84.
[6] Loebbecke C, Picot A. Reflections on societal and business model transformation arising from digitization and big data analytics: A research agenda. Journal of Strategic Information Systems, 2015, 24(3): 149–157. DOI:10.1016/j.jsis.2015.08.002.
[7] Goldfarb A, Tucker C. Digital economics. Journal of Economic Literature, 2019, 57(1): 3–43. DOI:10.1257/jel.20171452.
[8] Bakhshi H, Bravo-Biosca A, Mateos-Garcia J. The analytical firm: Estimating the effect of data and online analytics on firm performance. Nesta Working Paper, No. 14/05, 2014.
[9] Wang Y, Wang Y, Zhang L. The impact of exchange rate volatility on export stabilization: The role of intermediate goods imports. Financial Research, 2023(01): 75–93.
[10] Du M, Geng J, Liu W. Enterprise digital transformation and product quality upgrading in Chinese exports: Micro evidence from listed companies. International Trade Issues, 2022(06): 55–72. DOI:10.13510/j.cnki.jit.2022.06.009.
[11] Hou W, Liu B. Information value-added model based on information factor theory. Journal of Information Resources Management, 2020, 10(1): 8. DOI:10.13365/j.jirm.2020.01.057.
[12] Chen M, Wu M. The value of reputation in trade: Evidence from Alibaba. MIT Press, 2021. DOI:10.1162/rest_a_00932.
[13] Timmis J. Internet adoption and firm exports in developing economies. University of Nottingham, GEP Discussion Papers, 2013.
[14] Yadav N. The role of internet use on international trade: Evidence from Asian and Sub-Saharan African enterprises. Global Economy Journal, 2014, 14(2): 189–214.
[15] Wu F, Hu H, Lin H, et al. Corporate digital transformation and capital market performance – Empirical evidence from stock liquidity. Management World, 2021, 37(7): 15.