The Impact of Digital Technology on the Innovation Efficiency of Manufacturing Enterprises: Moderating Role Based on the Chinese Context

Digital technology provides new impetus for the high-quality development of China’s economy and helps to enhance the innovation ability of manufacturing enterprises. In order to clarify the impact of digital technology on the innovation efficiency of manufacturing enterprises in the Chinese context and whether there is heterogeneity under different conditions, data from China’s A-share listed manufacturing companies from 2013 to 2022 are selected for empirical research. The study finds that: digital technology has a significant positive impact on corporate innovation efficiency; institutional, market and cultural environments in the Chinese context play positive, negative and negative moderating roles between digital technology and corporate innovation efficiency, respectively; and heterogeneity analysis reveals that the enhancement of corporate innovation efficiency by digital technology has a stronger spillover effect in state-owned enterprises, enterprises in the eastern region and mature enterprises. This paper combines micro-enterprises and macro-economics to improve the impact of digital technology on the innovation and development of manufacturing enterprises, and puts forward three suggestions: (1) All-round enhancement of the level of digital technology development; (2) Formulation of corresponding strategies according to different institutional, market and cultural environments; (3) Targeted promotion of e-commerce development of manufacturing enterprises. In furtherance of the promotion of China’s manufacturing enterprises high-quality development of synergistic optimization to provide a reference for the digital innovation research to make a certain contribution.