Zhang Aiqin, Guo Xiaoqiang, Zhang Wenjie, Liu Zhangliang
School of Economics and Management, North University of China, Taiyuan, China.
PLoS One. 2025 Jan 3;20(1):e0313615. doi: 10.1371/journal.pone.0313615. eCollection 2025.
The exploration of digital transformation peer effects on the innovation performance of emerging industries is crucial for analyzing the underlying mechanisms of digital transformation, optimizing resource allocation among peer enterprises, and enhancing industrial competitiveness. This study empirically examines the influence of digital transformation peer effects on the innovation performance of the photovoltaic industry, using data from 150 photovoltaic companies listed in Shanghai and Shenzhen between 2011 and 2022. The study found that: (1) The digital transformation of the photovoltaic industry is influenced by regional and industry-specific peer effects. Regional peer effects in digital transformation have a positive impact on the innovation performance of the photovoltaic industry, while industry-specific peer effects exert a negative impact on innovation performance. Moreover, these effects exhibit dynamic persistence; (2) Further analysis of the transmission mechanism reveals that the digital transformation peer effect positively influences the innovation performance of the photovoltaic industry, primarily through the mediating role of enhanced absorptive capacity. Additionally, the level of marketization and executive tenure significantly moderate this relationship; (3) The study further investigates the photovoltaic industry within the context of subsidy policy implementation, firm types, and strategic pacing. The results indicate that the digital transformation peer effect on innovation performance is most pronounced for technology-intensive firms adopting an analytical strategy after the withdrawal of photovoltaic subsidies. For labor-intensive firms employing a defensive strategy, the peer effect is more significant before the withdrawal of subsidies. In contrast, the negative impact of industry-specific digital transformation peer effects on innovation performance is more evident in photovoltaic companies that pursue an offensive strategy; (4) The heterogeneity analysis reveals that the digital transformation peer effect on innovation performance is more significant for small-scale photovoltaic enterprises with state-owned property rights. In contrast, the peer effect negatively impacts innovation performance in large-scale photovoltaic enterprises. These findings provide theoretical insights and practical guidance for governments and enterprises in formulating digital transformation strategies for emerging industries.
探究数字转型的同行效应如何影响新兴产业的创新绩效，对于剖析数字转型的潜在机制、优化同行企业间的资源配置以及提升产业竞争力而言至关重要。本研究运用2011年至2022年间在上海和深圳上市的150家光伏企业的数据，实证检验了数字转型同行效应对光伏产业创新绩效的影响。研究发现：（1）光伏产业的数字转型受到区域和行业特定同行效应的影响。数字转型中的区域同行效应对光伏产业的创新绩效具有积极影响，而行业特定同行效应则对创新绩效产生负面影响。此外，这些效应呈现出动态持续性；（2）对传导机制的进一步分析表明，数字转型同行效应通过增强吸收能力的中介作用，对光伏产业的创新绩效产生积极影响。此外，市场化水平和高管任期显著调节了这种关系；（3）本研究进一步在补贴政策实施、企业类型和战略节奏的背景下考察了光伏产业。结果表明，在光伏补贴退出后，对于采用分析型战略的技术密集型企业，数字转型同行效应在创新绩效方面最为显著。对于采用防御型战略的劳动密集型企业，同行效应在补贴退出前更为显著。相比之下，行业特定数字转型同行效应在追求进攻型战略的光伏企业中，对创新绩效的负面影响更为明显；（4）异质性分析表明，数字转型同行效应在具有国有产权的小规模光伏企业中对创新绩效的影响更为显著。相比之下，同行效应在大规模光伏企业中对创新绩效产生负面影响。这些发现为政府和企业制定新兴产业数字转型战略提供了理论见解和实践指导。
