数字化转型对应急产业可持续性创新效应的影响：基于A股上市公司的证据

The Impact of Digital Transformation on Sustainable Innovation in the Emergency Industry: Evidence from A-Share Listed Companies

摘要: 本研究从企业层面揭示数字化转型对应急产业可持续创新的驱动机制，以前的研究未有对应急产业方向如此微观地了解，通过探讨该影响机制与效应，为应急产业高质量发展提供理论支撑与政策参考。本研究基于2002~2022年中国A股应急产业上市公司数据，从企业管理模式、创新文化和资源禀赋三个维度构建指标体系，采用双向固定效应模型、工具变量法及系统GMM等方法，多角度进行实证检验。结果表明：数字化转型显著提升应急产业可持续性创新水平，且存在动态延续效应；异质性分析显示，该效应在东部地区、国有企业和高端装备制造类企业中更为显著。且选取适当指标，为差异化政策制定提供了实证依据。

Abstract: This study uncovers the driving mechanism of digital transformation on sustainable innovation in the emergency industry at the enterprise level—a domain where prior research has yet to attain such micro-level insight. By investigating this mechanism and its associated effects, the research provides theoretical support and policy references for the high-quality development of the emergency industry. Drawing on data from Chinese A-share listed companies in the emergency industry spanning 2002 to 2022, this study develops an indicator system encompassing three dimensions: enterprise management models, innovation cultures, and resource endowments. It further employs methods including the two-way fixed effects model, instrumental variable method, and system GMM to conduct multi-faceted empirical tests. The results indicate that: digital transformation significantly enhances the level of sustainable innovation in the emergency industry, and this effect exhibits dynamic persistence; heterogeneity analysis further shows that this effect is more prominent in enterprises based in eastern China, state-owned enterprises, and those operating in high-end equipment manufacturing. Furthermore, the identification of appropriate indicators offers empirical support for the design of differentiated policies.