The Co-movement Effect of Key Digital Technology Substantive Innovation in the Supply Chain

The listed company and supply chain data are sourced from the CSMAR database, while the original patent data come from the National Intellectual Property Administration's patent database. The initial data were processed as follows: based on the "Classification System for Key Digital Technology Patents (2023)" issued by the National Intellectual Property Administration, IPC codes corresponding to each technological category were identified and matched with the "main classification number" variable in the original patent data to determine patents related to key digital technologies.

Subsequently, using the "applicant" variable, patent data were linked to the firm level, enabling the identification of patent information associated with focal firms and their upstream and downstream partners. During data cleaning, ST and ST* firms during the sample period were excluded, as were observations with missing key variables or those where supplier or customer names were too ambiguous to identify specific enterprises.