算力部署与数字技术创新——来自智算中心的证据

Computility Deployment and Digital Technology Innovation—Productivity: Evidence from Intelligent Computing Centers

摘要: 随着数字经济的蓬勃发展与人工智能技术的深度应用，算力已成为当今时代的核心先进生产力，智算中心作为算力资源的核心载体，其对企业数字技术创新的影响与作用机制尚未得到充分的理论解释。本文以2015~2023年深沪A股上市公司为研究样本，以企业持有IDC经营许可证作为算力部署的代理变量，实证检验了智算中心算力部署对企业数字技术创新的影响效应、传导路径与异质性特征。研究发现，算力部署对企业数字技术创新具有显著的正向促进作用，且经过一系列稳健性检验和内生性问题处理后这一结论依然成立。机制分析显示，算力部署主要通过两条并行的中介传导路径促进数字创新：一是降低企业创新失败风险，二是推动企业数字化转型。此外，该创新驱动效应存在异质性特征，在东部地区的企业、从事高科技行业的公司和民营企业中促进效应更加突出。本文的研究不仅丰富了算力部署与企业数字技术创新关联机制的研究，也为如何优化算力产业布局、完善数字经济政策、推动企业数字化转型与创新发展提供了经验证据与决策参考。

Abstract: With the vigorous development of the digital economy and the deep application of artificial intelligence technology, computility has become a core advanced productive force in the current era. As the core carrier of computility resources, the impact of intelligent computing centers on corporate digital technology innovation and their underlying mechanisms have not yet been fully explained theoretically. Taking A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2015 to 2023 as the research sample, and using firms’ holding of an IDC operating license as a proxy variable for computility deployment, this paper empirically examines the effects, transmission paths, and heterogeneity characteristics of the computility deployment of intelligent computing centers on corporate digital technology innovation. The study finds that computility deployment has a significant positive promoting effect on corporate digital technology innovation, and this conclusion remains valid after a series of robustness checks and treatments for endogeneity issues. Mechanism analysis reveals that computility deployment promotes digital innovation mainly through two parallel mediating pathways: one is reducing the risk of innovation failure, and the other is advancing corporate digital transformation. Furthermore, this innovation-driving effect exhibits heterogeneity; the promoting effect is more pronounced among enterprises located in the eastern region, companies engaged in high-tech industries, and private enterprises. This research not only enriches the study of the linkage mechanism between computility deployment and corporate digital technology innovation, but also provides empirical evidence and decision-making reference for how to optimize the layout of the computility industry, improve digital economy policies, and promote corporate digital transformation and innovative development.