ABSTRACT This research investigates how knowledge sharing and digital innovation affect the value creation of Science and Technology‐based Small and Medium Enterprises (ST‐SMEs) in China. Using text mining and panel data from the ChiNext board (2011–2019), we construct a provincial‐level Knowledge Sharing Development Index and employ mediation models to analyze its mechanisms. The results demonstrate that knowledge sharing enhances value creation not only directly but also indirectly through digital innovation, with significantly stronger effects observed in eastern regions. This study bridges the gap in understanding how digital innovation mediates the relationship between knowledge sharing and value creation in ST‐SMEs, offering region‐specific policy implications. We propose targeted strategies to address knowledge leakage risks, optimize digital infrastructure, and foster cross‐regional knowledge ecosystems, thereby advancing both theoretical frameworks and practical governance for ST‐SMEs in emerging economies. JEL Classification: O33, L25, M15, R11
Tang et al. (Tue,) studied this question.