The Integration of Digital and Real Economy and Enterprise Competitiveness

Abstract

Against the backdrop of the surging global digital wave and the multiple challenges faced by the real economy, the integration of digital and real economy has become a key issue for enterprises to enhance their competitiveness. The research selects the data of A-share listed companies in China from 2013 to 2022 as the research object, empirically examines the promoting effect of the integration of digital and real economy on enhancing enterprise competitiveness, and further analyzes and discusses the mechanism effects of cash level, technological innovation, and information disclosure on enhancing enterprise competitiveness. The following conclusions are drawn: First, the integration of digital and real economy can significantly promote the growth of enterprise competitiveness, and this positive effect remains valid after endogenous and robustness tests. Second, the integration of digital and real economy positively regulates the growth of enterprise competitiveness by influencing the cash level, technological innovation ability, and information disclosure quality of enterprises. Third, from a macro perspective, the promoting effect of the integration of digital and real economy on the growth of enterprise competitiveness is greater in the central and western regions; from a micro perspective, the promoting effect of the integration of digital and real economy on the growth of enterprise competitiveness is greater in private enterprises. Results enriches the traditional theory of enterprise competitiveness, expands the research scope of the integration of digital and real economy, and provides factual support and policy implications for enhancing the degree of integration of digital and real economy in China and promoting the high-quality development of economy in China.