供应链视角下企业数字化转型的生产率效应:双向溢出OACHSSCD

Leveraging data from A-share listed companies(2007-2023),this study constructs a dual transmission network framework integrating"focal firms-suppliers/customers."The optimization and upgrading of digital transformation by focal firms can simultaneously boost upstream suppliers and downstream customers,spurring them to raise total-factor productivity(TFP).The mechanisms operate through technological-innovation synergy and transaction-cost reduction:digitalization diffuses technological knowledge along the supply chain,strengthens upstream-downstream R&D collaboration(the innovation channel),and lowers information asymmetry and improves coordination efficiency(the transaction-cost channel),thereby driving TFP growth across the chain.The spillovers are moderated by vertical-relationship heterogeneity;structural features such as shorter geographic distance and lower concentration significantly affect spillover intensity.Policies should therefore target the two-way vertical spillovers,adopt differentiated and precise measures,and refine digital-transformation support to enhance supply chain resilience and build effective vertical-coordination mechanisms.