Digital Transformation and Firms' Dual Technology Innovation: Mediating Role Based on R&D Investment

This study introduces enterprise dual technology innovation indicators from two levels of breakthrough technology innovation and progressive technology innovation, and empirically examines the impact of digital transformation on enterprise dual technology innovation and the mediating role of R&D investment at the micro level using data of Chinese A-share manufacturing listed companies from 2011 to 2022. The results of the study show that (1) digital transformation significantly improves the level of corporate dual technology innovation, and promotes progressive technological innovation stronger than breakthrough technological innovation, a conclusion that still holds after robustness tests. (2) R&D investment plays a positive mediating role between digital transformation and firm dual technology innovation. The conclusion suggests that in the era of digital economy, stimulating dual technology innovation of enterprises can be an important factor for enterprises to obtain competitive advantages, which is of great theoretical significance for promoting Chinese enterprises to the highest level.