An Empirical Analysis of the Impact of Digital Transformation on Enterprise Performance

The digital economy is integrating into all aspects of social reproduction at an unprecedented speed, breadth, and depth, becoming the core driving force leading global economic development. Based on the data of Chinese manufacturing enterprises from 2010 to 2021, this paper systematically examines the impact mechanism and optimization path of digital transformation on enterprise performance. The study finds that digital transformation significantly improves the performance of manufacturing enterprises through multiple channels such as technological innovation, efficiency improvement, and business model restructuring, and this impact has significant industry heterogeneity and scale differences. Further analysis shows that the digital transformation path oriented by servitization can more effectively promote the improvement of manufacturing performance. This study not only verifies the theoretical logic chain of “digital technology - servitization transformation - performance improvement” but also identifies the optimal transformation path in different contexts through empirical analysis, providing important policy implications for the high-quality development of the manufacturing industry. These findings not only enrich the theoretical connotation of industrial digital transformation but also provide practical guidance for Chinese enterprises to achieve sustainable growth, and at the same time have reference value for developing countries to promote new industrialization.