Research on the Relationship between Construction 4.0 and Construction Firm's Performance: Based on the Mediating Role of Technological Innovation Capability

Abstract

With the growth and development of Construction 4.0, new technologies such as BIM, Big Data, and the Internet of Things are commonly used. These digital technologies play a critical role in fostering firm innovation and also have a major impact on firm performance. Based on panel data of 33 listed construction firms in China's construction industry from 2015 to 2020, this paper uses regression analysis and mediation analysis methods to empirically examine the relationship between Construction 4.0, technological innovation capabilities, and firm performance. The results demonstrate that Construction 4.0 has a significant positive promotional effect on the firm performance, while technological innovation capabilities mediate between Construction 4.0 and the firm performance. Based on these findings, it is suggested that construction firms should pay attention to the new technologies brought by Construction 4.0, increase investment in research and development, actively cultivate technological innovation capabilities, and build technological innovation networks, so as to promote digital transformation of construction firms.