The Impact of Digital R&D as a Mediating Variable on the Innovation Performance of High-Tech Enterprises

Abstract

Amid intensifying global competition in technological innovation, high-tech enterprises play a vital role in driving economic growth. Digital transformation has become a key catalyst for innovation, yet the mechanisms through which digital maturity influences innovation performance remain insufficiently understood. This study investigates the mediating role of R&D investment in the relationship between digital transformation and innovation performance. Using panel data from Shanghai and Shenzhen-listed high-tech enterprises between 2012 and 2024, we construct a mediation effect model and conduct regression analysis to explore both the direct and indirect effects of digital maturity on innovation outcomes. The empirical findings reveal that digital transformation significantly enhances innovation performance, primarily by improving patent output and boosting R&D investment efficiency. Furthermore, R&D investment acts as a partial mediator, indicating that digitalization indirectly strengthens innovation through improved capital allocation and resource utilization. The study also identifies considerable heterogeneity in this relationship: state-owned enterprises benefit more from digital transformation due to policy support, while large firms leverage digital tools more effectively than smaller firms. These results underscore the importance of aligning digital strategies with firm-specific characteristics to maximize innovation benefits. By offering a comprehensive analytical framework, the study contributes to the existing literature on digital innovation and provides actionable insights for policymakers and corporate leaders seeking to enhance innovation performance through strategic digital investment and transformation.