The Impact of Digital Transformation on Enterprise Innovation: Based on The Empirical Analysis of Listed Companies

Abstract

Based on the 2011-2020 Digital Finance Index and the data of Shanghai and Shenzhen A-share listed companies, the panel fixed utility model is used to investigate how the digital transformation of companies affects the innovation ability of enterprises. The research finds that the digital transformation of enterprises can have a significant positive effect on the improvement of the innovation and innovation ability of enterprises. The digital transformation of enterprises can promote the improvement of the innovation ability of enterprises by affecting the financing constraints, and then enable the innovation of enterprises；further research finds that enterprise digital transformation has a more significant positive effect on the innovation ability of private enterprises.