Proceedings of the 3rd International Conference on Financial Innovation, FinTech and Information Technology (FFIT 2024)

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The Impact of Smart Manufacturing on Total Factor Productivity: Empirical Evidence from Chinese Listed Manufacturing Firms

Authors
Yuxiang Xie1, 3, Haohan Gao3, Feng Xu1, An Jin3, Feng Tian2, 3, *
1School of Economics and Finance, South China University of Technology, Guangzhou, China
2School of Business, Macau University of Science and Technology, Macau, China
3Research and Developments Department, GRG Banking Equipment Co., Ltd., Guangzhou, China
*Corresponding author. Email: tfeng1@grgbanking.com
Corresponding Author
Feng Tian
Available Online 19 November 2024.
DOI
10.2991/978-94-6463-572-0_11How to use a DOI?
Keywords
Smart manufacturing; TFP; Manufacturing industry
Abstract

The optimal allocation of production factors requires both macro-level regulation and efficient resource management at the micro level within firms. We explore the impact of smart manufacturing on the total factor productivity (TFP) of listed manufacturing firms in China through empirical analysis. Using A-share listed manufacturing firms from 2015 to 2022 as the sample, we employ text analysis combined with principal component analysis to construct indicators of firms’ smart manufacturing levels. We examine the impact of smart manufacturing on TFP and conduct robustness tests with propensity score matching (PSM) and alternative dependent variables. Our findings indicate that smart manufacturing significantly improve the TFP of manufacturing firms, confirming that the application of smart manufacturing technology can effectively enhance production efficiency. Mechanism analysis shows that smart manufacturing primarily affects TFP through the intermediary effect of technological innovation. Our research provides a theoretical basis for understanding the impact of smart manufacturing on TFP and clarifies the mechanism, offering valuable insights for firms’ digital transformation.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 3rd International Conference on Financial Innovation, FinTech and Information Technology (FFIT 2024)
Series
Advances in Computer Science Research
Publication Date
19 November 2024
ISBN
978-94-6463-572-0
ISSN
2352-538X
DOI
10.2991/978-94-6463-572-0_11How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yuxiang Xie
AU  - Haohan Gao
AU  - Feng Xu
AU  - An Jin
AU  - Feng Tian
PY  - 2024
DA  - 2024/11/19
TI  - The Impact of Smart Manufacturing on Total Factor Productivity: Empirical Evidence from Chinese Listed Manufacturing Firms
BT  - Proceedings of the 3rd International Conference on Financial Innovation, FinTech and Information Technology (FFIT 2024)
PB  - Atlantis Press
SP  - 94
EP  - 105
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-572-0_11
DO  - 10.2991/978-94-6463-572-0_11
ID  - Xie2024
ER  -