The impact of digital transformation on the servitization transformation of manufacturing firms

Xiaoning Sui, Huanhuan Hu and Rong Wang

Research in International Business and Finance, 2025, vol. 73, issue PA

Abstract: In the burgeoning digital economy, the deep integration of the digital and real economies, along with industrial digitalization and service-oriented manufacturing, represent future development trends. Investigating the impact of digital transformation on servitization transformation is paramount for promoting the servitization transformation of manufacturing firms. This paper empirically examines data from listed Chinese manufacturing firms between 2007 and 2021, identifying several key findings. First, digital transformation significantly promotes the servitization transformation of manufacturing firms, a conclusion that remains robust through a series of tests. Second, digital transformation can drive the servitization transformation of manufacturing firms through two channels: enhancing total factor productivity and optimizing human capital. Third, the promotive effect of digital transformation on servitization transformation varies across firms with different ownership structures, technological levels, and scales. This study provides empirical evidence for promoting the high-quality development of manufacturing firms and accelerating their servitization transformation in the digital context.

Keywords: Manufacturing firms; Digital transformation; Servitization transformation; Total factor productivity; Human capital (search for similar items in EconPapers)
JEL-codes: L21 M11 O14 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:73:y:2025:i:pa:s0275531924003817

DOI: 10.1016/j.ribaf.2024.102588

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