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Volume 38 Issue 6
Nov.  2024
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Article Navigation >  Accounting and Economic Research  > 2024  >  38(6): 93-115
Luo Yinyan, Jin Xiankun, Xu Liping. 2024. The Knowledge Spillover Effects of the Lighthouse Factories: Empirical Evidence from Digital Transformation of Peer Firms. Accounting and Economic Research, 38(6): 93-115.
Citation: Luo Yinyan, Jin Xiankun, Xu Liping. 2024. The Knowledge Spillover Effects of the Lighthouse Factories: Empirical Evidence from Digital Transformation of Peer Firms. Accounting and Economic Research, 38(6): 93-115.
shu

The Knowledge Spillover Effects of the Lighthouse Factories: Empirical Evidence from Digital Transformation of Peer Firms

  • 1.

    School of Business, Sun Yat-sen University, Guangzhou Guangdong 510275, China

  • 2.

    School of Accounting, Zhejiang Gongshang University, Hangzhou Zhejiang 310018, China

  • Received Date: 2023-12-24
    Available Online: 2025-10-22
  • Publish Date: 2024-11-25
    Abstract
  • Digital technology provides a strong impetus for the transformation and upgrading of the manufacturing industry and the accelerated formation of new quality productive forces. However, due to the advanced nature of digital technology and the complexity of its integration into operation practices, enterprises commonly face the challenge of being “unable or hesitant to transform” during their digital transition. As exemplary demonstrators of digital manufacturing, do the advanced digital knowledge accumulated by Lighthouse Factories in their practices spill over to peer firms, thereby facilitating their digital transformation? The study finds that: (1) The Lighthouse Factories significantly improve the digitalization level of peer firms through knowledge spillovers. (2) As knowledge recipients, peer firms actively learn digital knowledge and re-innovate, which is the key approach to achieving these knowledge spillover effects. (3) The knowledge spillover effects of the Lighthouse Factories are more significant when peer firms exhibit stronger willingness to learn, more opportunities for knowledge access, and better knowledge absorptive capabilities. (4) The capital market responds positively to the knowledge spillover effects of the Lighthouse Factories. (5) Compared to domestic Lighthouse Factories, the knowledge spillover effect generated by overseas Lighthouse Factories is relatively weaker. This study demonstrates that cultivating benchmark digital manufacturing factories and promoting the spillover of their advanced digital knowledge can facilitate the integration of digital technology and the real economy on a broader and deeper level, and provides valuable insights for the deep integration of digital technology into the operational practices of manufacturing firms.

     

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