November 13, 2025Open Access

The Pilot Program of Digital Transformation for Small and Medium-Sized Enterprises and Corporate R&D Investment: Evidence from China's Listed Companies

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Analysis using panel data reveals digital transformation boosts R&D investment in SMEs, indicating strong innovation potential.

R&D investment significantly increased among SMEs due to the pilot policy, demonstrating impactful governmental support.
Panel data from A-share listed SMEs in China from 2015 to 2023 reveals this positive trend, focusing on various firm characteristics.
Application of Difference-in-Differences and Propensity Score Matching methods highlights significant policy impacts across regions.
The findings suggest vital implications for enhancing investment in innovation and adaptive strategies for sustainability.

Zijun et al. (2025) studied this question.

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