Exporting like China: Vertical spillover effects of firms exporting digital products

Kun Li, Peifeng Cai and Jing Wang

International Review of Financial Analysis, 2025, vol. 106, issue C

Abstract: Against the background that only a few companies have successfully entered the international market to sell digital products, it is important to study whether the export of digital products by enterprises can bring digital technology spillover effects to upstream enterprises in the supply chain. This paper uses supply chain network data constructed by data from Chinese listed companies and customs data from 2009 to 2016. Empirical tests have found that, firstly, the export of digital products can not only promote digital innovation in enterprises, but also indirectly promote digital innovation in upstream enterprises in the supply chain. The indirect effect of the export of digital products by enterprises accounts for approximately 41.3 % of the total effect. Second, the export of digital products can promote digital innovation in upstream enterprises through knowledge and technology spillovers, digital innovation awareness spillovers, and financial spillovers. Third, the supply chain spillover effects of exports of digital products are characterized by asymmetry. The promotion effect of exports of digital products on digital innovation of upstream enterprises is stronger when the average distance between suppliers and customers is closer, the level of digital infrastructure construction in the supplier's region is higher, and the supplier's customer concentration is lower.

Keywords: Digital product exports; Enterprise digital innovation; Vertical spillovers in the supply chain; Double/debiased machine learning (search for similar items in EconPapers)
JEL-codes: F14 F23 O33 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:106:y:2025:i:c:s1057521925005496

DOI: 10.1016/j.irfa.2025.104462

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