Using Shanghai and Shenzhen A-share listed companies from 2010 to 2021 as the original sample,a fixed-effects model is used to explore the impact of digital transformation on the cost of debt fi-nancing and the moderating role of executive shareholding between the digital transformation and the cost of debt financing.The empirical results show that the degree of digital transformation has a significant inhibi-tory effect on the cost of corporate debt financing and that executive shareholding plays a positive role in promoting the relationship between the corporate digital transformation and the cost of debt financing.The results of the heterogeneity analysis show that the digital transformation of non-state-owned enterprises and small and medium-sized enterprises has a significant inhibiting effect on the cost of debt financing.
digital transformationexecutive shareholdingdebt financing cost
维普
万方数据
