【作者】 徐晗；

【导师】 张倩；

【作者基本信息】 哈尔滨工程大学 ， 工商管理， 2024， 硕士

【摘要】 随着大数据、云计算、人工智能和区块链等前沿技术的迅猛发展,数字经济正逐渐成为中国经济高质量发展的重要引擎。装备制造业作为工业的心脏、国民经济的重要支柱,是支撑国家综合国力的基础,建设制造强国和数字中国的要求使装备制造企业必须进行数字化转型,积极迈进数字经济发展的新赛道,全方位、宽领域、多层次推动装备制造企业数字化转型,以实现自身的高质量发展。在不同的生命周期阶段,装备制造企业的战略目标、财务状况等方面存在差异,因此探索生命周期视角下装备制造企业数字化转型对高质量发展的影响有利于装备制造企业根据自身所处阶段的具体情况调整数字化转型方向,为装备制造企业的高质量发展提供参考依据。本文基于生命周期视角,以220家沪深A股上市的装备制造企业获取的707个观测样本为例,通过研究数字化转型、融资约束、效率变革、风险承担、高管风险偏好和高质量发展之间的关系,将企业规模、成立年限、上市年限、资产负债率、政府补贴和现金流比率作为控制变量,揭示生命周期视角下装备制造企业数字化转型对高质量发展的作用机制。首先,在梳理国内外相关文献的基础上,对数字化转型、融资约束、效率变革、风险承担、高管风险偏好和高质量发展等变量进行概念界定,并基于现金流组合法对装备制造企业的生命周期进行阶段划分;其次,结合企业生命周期理论、创新价值链理论、动态能力理论等相关理论,对装备制造企业数字化转型、融资约束、效率变革、风险承担、高管风险偏好和高质量发展之间的作用关系展开研究、提出相关假设,构建本文的理论模型;接着利用SPSS、Stata等软件对所得数据进行多元回归分析和门槛回归分析,包括生命周期视角下数字化转型对高质量发展的影响关系、成长期融资约束的中介作用、成熟期效率变革的中介作用和衰退期风险承担的中介作用,以及生命周期视角下基于高管风险偏好的门槛效应;最后在分析实证结果的基础上,提出生命周期不同阶段促进装备制造企业高质量发展的对策和建议。更多还原

【Abstract】 With the rapid development of cutting-edge technologies such as big data,cloud computing,artificial intelligence and blockchain,the digital economy is gradually becoming an important engine for China’s high-quality economic development.As the heart of the industry and an important pillar of the national economy,the equipment manufacturing industry is the foundation to support the country’s comprehensive national strength,and the requirements of building a manufacturing power and digital China make equipment manufacturing enterprises must carry out digital transformation,actively enter a new track of digital economy development,and promote the digital transformation of equipment manufacturing enterprises in an all-round,wide-ranging and multi-level manner to achieve their own high-quality development.Therefore,exploring the impact of digital transformation of equipment manufacturing enterprises on high-quality development from the perspective of life cycle is beneficial for equipment manufacturing enterprises to adjust the direction of digital transformation according to the specific situation of their own stage,and provides a reference for the high-quality development of equipment manufacturing enterprises.Based on the life cycle perspective,this paper takes 707 observation samples obtained from 220 A-share listed equipment manufacturing enterprises in Shanghai and Shenzhen as examples,and studies the relationship between digital transformation,financing constraints,efficiency change,risk-taking,executive risk appetite and high-quality development,and takes enterprise scale,establishment period,listing life,asset-liability ratio,government subsidies and cash flow ratio as control variables to reveal the mechanism of digital transformation of equipment manufacturing enterprises on high-quality development from the perspective of life cycle.Firstly,on the basis of combing the relevant literature at home and abroad,the variables such as digital transformation,financing constraints,efficiency change,risk-taking,senior executives’ risk appetite and high-quality development are conceptually defined,and the life cycle of equipment manufacturing enterprises is divided into stages based on the cash flow combination method.Secondly,combined with the theory of enterprise life cycle,innovation value chain,dynamic capability theory and other related theories,the relationship between digital transformation,financing constraints,efficiency change,risk-taking,executive risk preference and high-quality development of equipment manufacturing enterprises is studied,relevant hypotheses are proposed,and the theoretical model of this paper is constructed.Then,SPSS,Stata and other software were used to conduct multiple regression analysis and threshold regression analysis on the obtained data,including the impact of digital transformation on highquality development from the perspective of life cycle,the mediating role of financing constraints in the growth period,the mediating role of efficiency change in the maturity period and the mediating role of risk-taking in the recession period,and the threshold effect based on the risk preference of executives from the perspective of life cycle.Finally,on the basis of analyzing the empirical results,the countermeasures and suggestions for promoting the highquality development of equipment manufacturing enterprises at different stages of the life cycle are proposed.更多还原