How Does Digital Technology Drive Total Factor Productivity in Enterprises? Empirical Evidence from Text Analysis ()
ABSTRACT
The deep integration of the digital economy with the
real economy is a crucial pathway to achieving high-quality development in the
new era. Based on the data of listed companies in China from 2012 to 2021, this
paper uses the OLS regression model to empirically study how digital technology drives
the total factor productivity of enterprises. The research results show that
the enhancement of digital technology can significantly increase the total
factor productivity of enterprises. At the same time, this paper selects
enterprise innovation ability, cost and human capital structure as mediating
variables to conduct mechanism tests to verify the specific path of digital
technology affecting enterprise total factor productivity. Through group
regression for heterogeneity research, this paper finds that the promotion
effect of digital technology on enterprise total factor productivity is more
obvious in non- high-tech industry
enterprises and state-owned enterprises. Finally, this paper also conducts a
robustness test by replacing the independent and dependent variables to prove
the robustness of the above conclusions. This study provides micro evidence for
the promotion effect of digital technology on enterprise efficiency, which is of great significance for enhancing total
factor productivity and achieving high-quality economic development.
Share and Cite:
Chen, S. (2023) How Does Digital Technology Drive Total Factor Productivity in Enterprises? Empirical Evidence from Text Analysis.
Open Journal of Business and Management,
11, 2525-2554. doi:
10.4236/ojbm.2023.115140.
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