How Exchange Rate Fluctuation Affects Digital Transformation of Enterpries
Using the data from Chinese listed companies and customs exports from 2007 to 2016,we examine the impact of RMB exchange rate fluctuations on Chinese enterprises'digital transformation strategies of enterpri-ses.It is found that the intensification of exchange rate fluctuations significantly promotes the transformation of digital technology applications,but has no significant impact on the transformation of underlying technology archi-tecture,and the effect is more pronounced in enterprises with higher leverage ratio,enterprises with higher export intensity and those with larger financing constraints.Further research finds that the fluctuation of RMB exchange rate affects the digital transformation of enterprises through the degree of market competition and business risk level,forcing enterprises to choose appropriate transformation strategies and accelerate the process of digital trans-formation.
exchange rate fluctuationenterprise digital transformationthe degree of market competi-tionbusiness risks
国家科技期刊平台
NSTL
万方数据
