Research Article Research on the Relationship between Construction 4.0 and Construction Firm’s Performance: Based on the Mediating Role of Technological Innovation Capability Xiaozhuang Yang , 1 Dejian Wu, 1,2 and Zhizhe Zheng 3 1 School of Energy and Civil Engineering, Harbin University of Commerce, Harbin 150028, China 2 School of Management, Harbin University of Commerce, Harbin 150028, China 3 School of Civil Engineering, Northeast Forestry University, Harbin 150040, China Correspondence should be addressed to Xiaozhuang Yang; [email protected] Received 13 April 2022; Revised 11 July 2022; Accepted 27 July 2022; Published 25 August 2022 Academic Editor: Antonio Forcina Copyright © 2022 Xiaozhuang Yang et al. is is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. With the growth and development of Construction 4.0, new technologies such as BIM, Big Data, and the Internet of ings are commonly used. ese digital technologies play a critical role in fostering firm innovation and also have a major impact on firm performance. Based on panel data of 33 listed construction firms in China’s construction industry from 2015 to 2020, this paper uses regression analysis and mediation analysis methods to empirically examine the relationship between Construction 4.0, technological innovation capabilities, and firm performance. e results demonstrate that Construction 4.0 has a significant positive promotional effect on the firm performance, while technological innovation capabilities mediate between Construction 4.0 and the firm performance. Based on these findings, it is suggested that construction firms should pay attention to the new technologies brought by Construction 4.0, increase investment in research and development, actively cultivate technological innovation capabilities, and build technological innovation networks, so as to promote digital transformation of construction firms. 1. Introduction e construction industry is a pillar industry in China and plays an important strategic role in supporting the national economy [1]. During the “13th Five-Year Plan” period, the total output value of China’s construction industry has grown steadily at a rate of 10%, reaching 29.3 trillion yuan by 2021. Although the construction industry has a high total output value and added value [2], the industry still faces many challenges, including low productivity, poor industry image, low predictability, lack of investment in R&D and innovation, structural fragmentation, and poor technolog- ical progress [3, 4]. Since its inception, the construction industry has sought ways to reduce costs, increase efficiency, enhance visualization, strive to shorten delivery times, im- prove data sharing, reduce construction waste, increase productivity and sustainable performance, improve safety, and improve quality [5]. New technologies brought about by Industry 4.0 offer this possibility [6]. erefore, it is nec- essary to carry out technological innovation to effectively manage construction projects, improve productivity, and promote construction industrialization and industrial modernization [1]. e fourth industrial revolution, characterized by the convergence of emerging technologies, is rapidly changing the industrial environment [7]. Industry 4.0 aims to combine multiple technologies for mutual benefits, enabling re- sponsiveness and improving the quality of production systems [8]. e concept is broad and considers many as- pects of interdisciplinary technology and collaboration, which are essential for continuous automation through disparate processes [9]. Various digital technologies have Hindawi Mathematical Problems in Engineering Volume 2022, Article ID 8523480, 12 pages https://doi.org/10.1155/2022/8523480
Research on the Relationship between Construction 4.0 and Construction Firm’s Performance: Based on the Mediating Role of Technological Innovation Capability
Apr 29, 2023
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