Informatization Impact, Transaction Cost and TFP of Enterprise——Natural Experiments Based on Chinese Smart City Construction
- SHI Daqian, LI Ge & LIU Jianjiang
- SHI Daqian (Wuhan University, 430072)LI Ge (Huazhong University of Science and Technology, 430074)LIU Jianjiang (Changsha University of Science and Technology, 410114)
Empirical results show that the impact of information technology on smart city construction has significantly improved the TFP of enterprises, and a series of robustness tests have ensured the robustness of the conclusion. Mechanism inspection shows that the impact of informatization can improve the total factor productivity of enterprises by reducing transaction costs. Further heterogeneity test shows that the informatization of smart city construction has a greater impact on the TFP of enterprises with higher capital intensity and larger scale, on state-owned enterprises than on non-state-owned enterprises; compared with non-trading industries, the trading industry, thanks to the lower cost brought by smart city construction, sees bigger increase in TFP.
JEL：R58, R11, D24
- Informatization, Smart City Construction, Transaction Cost, Total Factor Productivity