Corporate Digital Transformation and Financial Risk Mitigation——Empirical Evidence from Chinese Listed Companies
This paper takes the A-share listed companies in Shanghai and Shenzhen from 2010 to 2021 as the re-search sample to test the impact and mechanism of corporate digital transformation on financial risk.The study finds that digital transformation of firms significantly reduces their financial risk,and this conclusion remains valid after a se-ries of robustness tests.Enterprise digital transformation effectively reduces corporate financial risk by enhancing enter-prise value,improving information transparency,and suppressing management's true surplus management.The find-ings provide useful insights for enterprises to better carry out digital transformation and mitigate financial risks.
enterprise digital transformationfinancial riskinformation transparencysurplus management
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