Single Champions policy and corporate digital innovation: evidence from China
研究中国2014-2021年“单项冠军”政策对企业数字创新的激励效应，发现该政策显著促进企业数字创新，且市场地位和网络中心性起正向调节作用。
Abstract How to effectively stimulate enterprise digital innovation has long been a critical research question. This study posits that government industrial policy may serve as a key driver of such innovation. Focusing on enterprises recognized as “Single Champions” between 2014 and 2021, we employ a multi-period propensity score matching combined with difference-in-differences (PSM-DID) approach to empirically examine the impact of the Single Champions policy on corporate digital innovation. The findings reveal that being designated as a Single Champion exerts a significant positive incentive effect on firms’ digital innovation. Further analysis identifies market status and network centrality as important moderators that strengthen this relationship. This study contributes to the literature by demonstrating that government industrial policy can effectively incentivize and propel enterprise digital innovation.