Research on the Synergic Influences of Digital Capabilities and Technological Capabilities on Digital Innovation

Digital innovation is the key for enterprises to obtain core competitiveness in today's increasingly fierce market environment. Based on a sample of high-tech manufacturing companies listed in the Shanghai and Shenzhen A-shares from 2011 to 2020, this paper empirically tests the impact mechanism of the synergic influence of digital capabilities and technological capabilities of enterprises on digital innovation by using static panel regression, dynamic panel regression, and the moderation of social capital on their relationship. The results show that the synergic influence of digital capability and technology absorptive capability has a positive correlation with enterprise digital innovation. The synergy of digital capabilities and technological innovation capabilities has a positive correlation with enterprise digital innovation. Social capital plays a positive moderating role in the impact of the two synergic influences on digital innovation. The results imply that strengthening the coordinated development of digital capabilities and technological capabilities is essential for enterprises to carry out digital innovation, which is of great significance for the high-quality development of the manufacturing industry.