Digital Transformation and Enterprise Value of SMEs
Taking A-share listed companies from 2015 to 2022 as a sample,this paper empirically examines the impact of digital transformation on enterprise value for small and medium-sized enterprises,and empirically analyzes the impact of digital transformation on enterprise value,which is helpful for small and medium-sized enterprises to actively carry out digital transformation activities.At the same time,this paper discusses the mechanism of digital transformation and enterprise value of SMEs from the perspective of dual principal-agent,reveals the internal logic of the impact of digital transformation on enterprise value of SMEs,and helps SMEs to carry out digital transformation activities in a more targeted manner.The conclusions show that:(1)the digital transformation of small and medium-sized enterprises has a certain value creation effect and can effectively enhance the value of enterprises,and(2)the digital transformation of small and medium-sized enterprises strengthens the efficiency of internal and external information communication and reduces the degree of information asymmetry,so as to reduce the mechanism of principal-agent cost by alleviating the principal-agent problem between major shareholders and small and medium-sized shareholders,shareholders and management,and reducing the principal-agent cost.Through this research,it is hoped to provide effective countermeasures and suggestions for small and medium-sized enterprises to carry out digital transformation and enhance enterprise value.
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