Abstract:     The emergence and wide application of advanced digital technologies not only bring us a profound change in human production and in our way of life, but also put forward new requirements for enterprises to achieve product innovation. Whether enterprises can better drive product innovation and form sustainable competitive advantages in the new digital context has become the key to their survival and development in the new era. Focusing on changes in the process and performance of product innovation in the new digital context, this paper takes executive cognitive flexibility as the starting point and explores the mechanism and influence path from executive cognitive flexibility to enterprise product innovation under the new digital context, and information search intensity (individual attention devotion) and data-driven dynamic capability (organizational capability) are the process mechanism of achieving product innovation, according to the clue framework of "cognition-behavior-capability-strategy". In other words, this research constructed a chain mediation model of "executive cognitive flexibility → information search intensity → data-driven dynamic capabilities → product innovation", based on attention-based view and dynamic capabilities theory. Multiple regression and bootstrap methods are used to test the model. The empirical study results showed as follows. Firstly, in the new digital situation, executive cognitive flexibility has a significant positive impact on product innovation. Secondly, the intensity of information search of individual executive and the data-driven dynamic capabilities of organization have intermediary roles in the relationship between executive cognitive flexibility and product innovation. Thirdly, information search intensity and data-driven dynamic capabilities play a chain mediating effect between executive cognitive flexibility and product innovation, that is, executive cognitive flexibility promotes the level of data-driven dynamic capabilities through promotion of information search intensity, and then positively influences product innovation. Fourthly, in the micro-basic empirical analysis of data-driven dynamic capabilities, both executive cognitive flexibility and external information search intensity positively affect data-driven dynamic capabilities, and executive cognitive flexibility can further affect data-driven dynamic capabilities by promoting information search intensity, and information search intensity plays a partial mediating role. The conclusions of this study also have certain theoretical contributions and practical implications. In terms of theoretical contributions, firstly, it provides a two-dimensional interpretation perspective of individual attention and organizational capabilities for transformation of product innovation process and performance in the new digital context. Secondly, it deepens the explanatory mechanism of information search in executive cognition, data-driven dynamic capabilities and the antecedents of enterprise product innovation, enriches the analysis of information search characteristics in existing studies, and thus expands the relevant research of information search. Thirdly, it enriches the research on the micro-foundation of dynamic capability in the new digital context, thus contributing to the improvement and development of dynamic capability theory. Combined with the empirical research of the new digital context in which the strategic position of big data resources is constantly prominent and the role of digital technology is constantly prominent, it provides new evidence for the applicability of the dynamic capability theory of enterprises in the new context. In terms of practical enlightenment, firstly, it guides the senior management system of enterprises to attach importance to the dynamic transformation and input of attention, thus not only actively exerting subjective initiative, updating management cognition, improving cognitive flexibility, but also paying attention to the effective input of attention, and carrying out efforts and lasting external information search. Secondly, it provides a specific and operable path for enterprises to achieve product innovation, in addition to paying attention to the influence of individual executives, we are also required to pay attention to the superposition of data-driven dynamic capabilities and the role of individual executives, adjust the internal capabilities and resource allocation of enterprises, and when inside and outside are in harmony, it will empower enterprise product innovation and promote sustainable development of enterprises. Thirdly, it applies the flexible and innovative thinking developed by senior managers and the external information knowledge they have to the development of organizational dynamic capabilities, and further exert and amplify their role benefits.

Key words: executive cognitive flexibility, information search, data-driven dynamic capability, product innovation, new digital context