Research on the Impact of Digital Transformation Differentiation on Enterprise Performance
Based on the optimal discrimination theory,a research framework is constructed to in-vestigate the impact of the degree of variation in enterprise digital transformation on enterprise per-formance,and to explore the moderating effects of the degree of market competition,policy uncertain-ty and strategic differentiation.Using A-share listed companies from 2007 to 2021 as a sample for em-pirical test,the study finds that:the relationship between the degree of variation in digital transfor-mation and firm performance is inverted U-shaped.The increased level of competition in the market leads to a steeper inverted U-shaped curve and the turning point shifts to the left.And the increase in policy uncertainty leads to a flatter inverted U-shaped curve and the turning point shifts to the left.Besides,the increase in strategic differentiation leads to a flatter inverted U-shaped curve as well as a shift of the turning point to the right.
digital transformationenterprise performanceoptimal distinctiveness
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