中小企业数字化转型与企业价值
Digital Transformation and Enterprise Value of SMEs
邓倩1
作者信息
摘要
本文聚焦中小企业数字化转型对企业价值的影响效应这一核心问题,以2015-2022 年A股上市公司为样本,基于信号传递理论和委托代理理论,实证分析中小企业数字化转型对企业价值的影响.同时,通过双重委托代理的视角对中小企业数字化转型与企业价值的作用机制进行探讨,揭示中小企业数字化转型影响企业价值的内在逻辑,有助于中小企业更具针对性的开展数字化转型活动.研究结论表明:(1)中小企业数字化转型具有一定的价值创造效应,可以有效提升企业价值;(2)中小企业数字化转型加强了企业内外部的信息沟通效率,降低信息不对称程度,从而通过缓解委托代理问题影响企业价值.通过本文研究,以期为中小企业积极开展数字化转型活动,提升企业价值提供行之有效的对策建议.
Abstract
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.
关键词
中小企业/数字化转型/企业价值/委托代理Key words
SMEs/digital transformation/enterprise value/principal-agent引用本文复制引用
基金项目
山西省高等学校哲学社会科学项目(2022W231)
出版年
2024
NETL
NSTL
万方数据