Abstract
Based on the peer effect perspective, we establish a digital innovation linkage between the same group enterprises and the focal enterprise, and explore the existence of the peer effect of digital innovation, as well as the cross-layer boundary conditions of executives’ digital background (micro), status (meso), and intellectual property protection (macro), and their substitution relationships among the three. Using the data of Chinese listed companies from 2012 to 2022, we find that: (1) Digital innovation has the peer effect, that is, The level of digital innovation in focal enterprise can be influenced by the average level of digital innovation among firms in the same industry; (2) Executives’ digital background positively influences the peer effect of digital innovation. With the improvement of the status, the peer effect of digital innovation shows a trend of strengthening first and then weakening. The intensity of intellectual property protection positively affects the peer effect of digital innovation; (3) The moderating effect of status takes precedence over intellectual property protection, and the moderating effect of intellectual property protection is prioritized over executives’ digital background.
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Notes
- 1.
Due to space limitations, the detailed literature review and references for this section are available upon request.
- 2.
Due to the serious missing values in the R&D intensity, we refer to the practices of Flannery and Rangan (2006), and take the R&D intensity of the sample with undisclosed R&D expenses as 0, and includes a dummy variable for whether or not to disclose R&D expenses as a control variable to control possible sample selection bias.
- 3.
Due to space limitations, the results of robustness tests are not presented. Please contact the author for further information.
- 4.
“Peer's peer” in this paper is defined as the enterprises located in the same region as the peer enterprises, and manually excludes enterprises in the same industry and region as the focal enterprise to ensure the exogeneity of the instrumental variables.
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Acknowledgement
We are grateful to the editor and anonymous reviewers for their constructive comments and suggestions. And this work was supported by the National Natural Science Foundation of China under Grant 72272138 and 71973130 and the National Social Science Foundation of China under Grant 22AZD126.
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Ma, H., Zhou, T., Chen, Y., Chi, M. (2024). Research on the Peer Effect of Digital Innovation in Manufacturing Enterprises. In: Tu, Y.P., Chi, M. (eds) E-Business. New Challenges and Opportunities for Digital-Enabled Intelligent Future. WHICEB 2024. Lecture Notes in Business Information Processing, vol 516. Springer, Cham. https://doi.org/10.1007/978-3-031-60260-3_31
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