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Outline
The key to promoting industrial innovation through technological innovation lies in increasing enterprise research and development investment. In the context of increasing economic policy uncertainty and deepening digital transformation, it is of great research value to determine the impact on enterprise research and development investment. Using A-share listed companies in Shanghai and Shenzhen from 2012 to 2022 as a sample, the synergistic impact of perceived economic policy uncertainty and digital transformation on corporate R&D investment was examined. Corporate R&D investment is significantly increased by the synergistic effect between perceived economic policy uncertainty and digital transformation. This conclusion is empirically confirmed through multiple robustness tests including instrumental variables. Heterogeneity analysis shows that the synergistic effect of uncertainty in corporate economic policies and digital transformation on R&D investment is more pronounced in the primary and secondary industries, manufacturing, and non-state-owned enterprises. Mechanism tests reveal that digital human capital, corporate tax incentives, and executive strategic foresight are three potential channels for the synergistic impact of perceived economic policy uncertainty and digital transformation on corporate R&D investment. Relevant literature on the relationship between perceived economic policy uncertainty, digital transformation, and enterprise R&D investment is expanded, with policy insights provided for corporate R&D decision-making amid volatile economic policy environments and accelerated digital transformation processes.
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| 科 Family | 属数 Number of genus | 种数 Number of species | 占总种数比例 Percentage of total species (%) | 属 Genus | 种数 Number of species | 占总种数比例 Percentage of total species (%) |
|---|---|---|---|---|---|---|
| 鹅膏菌科Amanitaceae | 2 | 11 | 5.26 | 鹅膏菌属 Amanita | 10 | 4.78 |
| 小菇科 Mycenaceae | 2 | 12 | 5.74 | 丝盖伞属 Inocybe | 5 | 2.39 |
| 多孔菌科 Polyporaceae | 8 | 14 | 6.70 | 蜡蘑属 Laccaria | 5 | 2.39 |
| 红菇科 Russulaceae | 3 | 23 | 11.00 | 小皮伞属 Marasmius | 6 | 2.87 |
| 小菇属 Mycena | 11 | 5.26 | ||||
| 光柄菇属 Pluteus | 5 | 2.39 | ||||
| 红菇属 Russula | 17 | 8.13 | ||||
| 栓菌属 Trametes | 5 | 2.39 |
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