Prof. Bai Peiwen
Xiamen University/School of Economics, China
Speech Title: Does the Development of Digital Economy Increase or Decrease the Markup of Firms?
Abstract: The integration of the digital economy with the real economy is a major issue for sustainable economic development in the new era.In this paper, we use the markup of firms as a combined reflection of the net value of these two effects, and theoretically construct a variable markup model to explore the mechanism. Further, this paper uses data on Chinese industrial firms from 2004-2013, combined with the newly developed imperfect instrumental variables method. It is found that digital economy development significantly reduces markup of firms, with a robust upper bound of -0.31%. The analysis of the mechanism reveals that the increase in competition among firms and the imperfect transfer of cost pressures by firms are important channels. The heterogeneity analysis shows that the negative impact of digital economy development on markup is larger for firms with characteristics such as less digitalization, tighter financing constraints, and weaker cost-saving capabilities. The study also finds that digital economy development reduces the dispersion of markup and significantly improves the efficiency of resource allocation. The findings of this paper have important implications for understanding the significance of digital economy and real economy integration, and how to further promote digital economy development effectively.
Prof. Charles Chen
Minnan Normal University, China
Speech Title: The fundamental of digital economy – Enterprises digitalization and intelligentization
Abstract: Digital economy, also known as intelligent economy, is the main economic form after agricultural economy and industrial economy, the essential feature of industry 4.0 or post-industrial economy. This new economic form takes data resources as the key element, modern information network as the main carrier, information and communication technology (ICT) integration and application as the important driving force to promote a more fair and efficient economic environment and economic activities. Although there will generate innovative organization model、business model、manufacture structure、ICT technology and different consumer behavior in this digital economy era, in this speech, we will focus on the introduction of ICT structure for enterprises digitalization and intelligentization, especially in the manufacture industry.