企业数字化转型对融资约束的影响研究——基于"信息论"与"资源论"的视角
Research on the Impact of Enterprise Digital Transformation on Financing Constraints:Based on"Information Theory"and"Resource Theory"
刘翰林 1黄佳玲1
作者信息
- 1. 杭州电子科技大学 会计学院,浙江 杭州 310018
- 折叠
摘要
数字化转型已经成为推动传统企业转型升级和实现高质量发展的新引擎,这能否为改善企业筹资环境提供一条新的路径呢?文章借助大数据文本分析手段,以 2011-2022 年沪深A股上市公司为研究样本,探究企业数字化转型对融资约束的影响.与以往研究基于"信息论"不同,文章以"信息论"和"资源论"双重视角为基础展开研究.研究发现,企业数字化转型能显著缓解融资约束;机制分析显示,数字化转型通过降低企业盈余管理程度、提高资源配置效率缓解融资约束.进一步研究发现,内部控制和风险承担水平促进数字化转型对融资约束的缓解作用,而多元化经营抑制数字化转型对融资约束的缓解作用;数字化转型下的"数字技术应用"对降低融资约束的效果最好.
Abstract
Digital transformation has become a new engine for the transformation and upgrading of traditional enterprises and high-quality development.Can this further affect the performance of enterprises in fundraising activities?By means of big data text analysis,this paper explores the impact of enterprise digital transformation on financing constraints,taking A-share listed companies from 2011 to 2022 as research samples.Different from previous studies only based on information theory,this paper tests from the dual perspectives of Informa-tion Theory and Resource Theory.It is found that enterprise digital transformation can significantly alleviate financing constraints and the alleviation is achieved by reducing the degree of earnings management and impro-ving the efficiency of resource allocation.Further research finds that while internal control and risk taking pro-mote the easing effect of digital transformation on financing constraints,diversification inhibits it.The"appli-cation of digital technology"under digital transformation has the best effect on reducing financing constraints.
关键词
数字化转型/融资约束/盈余管理/资源配置效率Key words
digital transformation/financing constraints/earnings management/resource allocation efficiency引用本文复制引用
基金项目
浙江省哲学社会科学新兴(交叉)学科重大扶持项目(9XXJC01ZD-1)
出版年
2024
NETL
NSTL
万方数据