经济学院知识库

There is no doubt that private enterprises have played an increasingly prominent role in China's economic development and made significant contributions to China's rapid economic growth over the past 40 years.However, a comprehensive study at home and abroad shows that the life expectancy of Private enterprises in China is generally low. The average life expectancy of small private enterprises is no more than 2.9 years, and the average life expectancy of large private enterprises is only about 8 years, which is far lower than that of developed countries.This reflects an important practical problem: the "quality" of China's private enterprises is generally relatively low.Theory and practice have shown that a high-quality private enterprise, its risk resistance and sustainable development capacity will be stronger, then its enterprise life will be relatively long, so it will not be easy to close down, exit from the market.With the continuous development and innovation of China's digital information technology and its continuous integration with economic development, digital economy is playing an increasingly prominent role in China's economic development, accounting for a rising proportion, and has been considered as a "new engine" and "new power" to promote high-quality economic development.So does the development of digital economy promote the life span of private enterprises?To solve this problem, this paper uses the digital Economy Development Index of China's 31 provinces, autonomous regions and municipalities (excluding Hong Kong, Macao and Taiwan) jointly released by China Electronic Information Industry Research Institute and CCID Consulting and the data of all A-share private listed companies in the corresponding years of the China Stock Market & Accounting Research Database. Using intermediary model to analyze the impact of digital economy on the life span of private listed enterprises in China.The results show that the development of the digital economy to private enterprise survival life is a positive role in promoting, digital economy by reducing the financing constraints, and improve enterprise innovation ability two mechanisms affecting the service life of the survival of private listed companies in our country, the results through intermediary effect after inspection and robustness, remains valid.According to the research results, several policy suggestions can be drawn：Firstly, all regions of China should attach importance to the construction of digital economy, especially those regions with relatively backward development of digital economy, so as to provide a strong foundation for improving the development quality of local private enterprises.Secondly, the government should play a leading role in macro economy, using the digital economy to help China's private enterprises to speed up the digital transformation, eliminate the traditional financial discrimination, to alleviate the financing of private enterprises and enhance the level of its innovation ability and the enterprise digitizing from micro economy promptly seize opportunities for development, combined with the actual situation, the government policies to guide and Solve the shackles restricting their financing ability and innovation ability with digital technology, and then improve their life span, to achieve their own high-quality development.