Abstract: With the advent of Internet technology, the manufacturing industry is in a critical period of accelerating the transformation to the Internet, and Internet technology has become a core force underlying the survival and development of enterprises. This paper is based on a large sample of micro data generated by matching industrial enterprise databases and customs databases. Firstly, a KM survival analysis finds that the average survival time of Internet-based companies is 3.13 years, the average survival time of non-Internet-based companies is 2.72 years, and the proportion of the former in 4~6 years and more than 7 years survival time group is significantly higher than that of the latter. Secondly, an empirical analysis based on propensity score matching method (PSM), Cox survival analysis model and Oaxaca-RIF decomposition model reaches the following conclusions. (1) Internet technology can significantly reduce the survival risk of manufacturing enterprises. A heterogeneity test shows that Internet technology has a greater effect in reducing the survival risk of state-owned enterprises, medium-sized enterprises, non-export enterprises, enterprises in the central region, and labor-intensive enterprises. (2) Through an analysis of the gap contribution of the survival time of enterprises, it is found that, regardless of the characteristic effect or the coefficient effect, Internet technology has a greater impact on high-quantile enterprises. From the perspective of the overall survival time distribution, the application of Internet technology by enterprises can eliminate the impact of differences in survival time in different regions to a certain extent. The research conclusions of this paper provide an important theoretical reference basis for manufacturing enterprises to survive and develop by taking advantage of Internet.

Key words: Internet technology, enterprise survival, PSM, Cox survival analysis, Oaxaca-RIF decomposition