Abstract：From the perspective of investment efficiency, this study introduces R&D investment as a moderating variable, constructs a moderated mediation effect model, and empirically tests the relationship mechanism and influencing factors between enterprise digitization and capacity utilization. The study found that digitization can improve capacity utilization by inhibiting over-investment and alleviating under-investment, the mediating effect of investment efficiency between digitization and capacity utilization is regulated by R&D investment. Heterogeneity analysis found that the capacity improvement effect of digitization is more significant in non-ROE-owned enterprises and non-overcapacity industries.
陈字理，朱桂龙. 企业数字化对产能利用率的影响研究[J]. 管理学报, 2025, 22(11): 2018-.
CHEN Zili，ZHU Guilong. Research on the Impact of Enterprise Digitization on Capacity Utilization. Chinese Journal of Management, 2025, 22(11): 2018-.
