基于PLS-SEM的数字化转型技术创新对企业绩效的影响研究

A Study on the Impact of Digital Transformation and Technological Innovation on Firm Performance Based on PLS-SEM

摘要: 在数字经济上升为国家战略的背景下，数字化转型已成为推动企业高质量发展的关键路径。本文以2015~2023年沪深两市A股制造业上市公司为样本，基于偏最小二乘结构方程模型(PLS-SEM)，实证检验数字化转型、技术创新与企业绩效之间的关系及其区域差异。研究发现：数字化转型对企业绩效的直接影响显著为负，但通过技术创新产生显著正向中介效应，整体呈现“直接抑制、间接促进”的结构特征；同时，该效应在不同区域间存在差异，东部地区间接效应更为稳定，西部地区边际改善效应更为突出。研究结论为企业优化数字化转型路径及政府制定差异化数字经济政策提供了经验证据。

Abstract: In the context of the digital economy being elevated to a national strategy, digital transformation has become a key pathway for promoting high-quality corporate development. Using A-share listed manufacturing firms in Shanghai and Shenzhen from 2015 to 2023 as the sample, this study employs the partial least squares structural equation modeling (PLS-SEM) approach to empirically examine the relationships among digital transformation, technological innovation, and firm performance, as well as their regional heterogeneity. The results show that digital transformation has a significantly negative direct effect on firm performance, while it exerts a significantly positive indirect effect through technological innovation, exhibiting a structural pattern of “direct inhibition and indirect promotion”. Moreover, this effect varies across regions: the indirect effect is more stable in eastern regions, whereas the marginal improvement effect is more pronounced in western regions. The findings provide empirical evidence for firms to optimize digital transformation strategies and for governments to formulate region-specific digital economy policies.