数字化转型对企业绩效的影响——去杠杆的中介效应
The Impact of Digital Transformation on Corporate Performance:The Mediating Effect of Deleveraging
胡元林 1魏涵昱 1朱雁春1
作者信息
- 1. 昆明理工大学 管理与经济学院,昆明 650500
- 折叠
摘要
基于中国沪深A股上市公司2007-2021年数据,系统考察数字化转型对企业绩效的影响及内在机理.实证研究发现,数字化转型与企业绩效呈显著正相关,这一结论在多重稳健性、内生性检验后依然成立.从机制路径来看,数字化转型通过降低财务杠杆、经营杠杆以及联合杠杆来提升企业绩效.异质性分析发现,企业数字化转型对企业绩效的影响存在非对称结果,对处于经济政策低不确定性、东部地区、高科技行业、资金技术密集型的企业绩效提升更为显著.
Abstract
Based on data from Chinese A-share listed companies in Shanghai and Shenzhen from 2007 to 2021,this paper systematically examines the impact and underlying mechanisms of digital transformation on corporate performance.It is found that there is a significant positive correlation between digital transformation and corporate performance,which remains valid after multiple robustness and endogeneity tests.From the perspective of mechanism,digital transformation improves corporate performance by reducing financial leverage,operational leverage,and total leverage.Heterogeneity analysis found that there are asymmetric results in the impact of digital transformation on corporate performance,with digital transformation having a more significant effect on improving performance for enterprises located in low economic policy uncertainty,eastern regions,high-tech industries,and capital and technology intensive industries.
关键词
数字化转型/企业绩效/企业杠杆Key words
digital transformation/corporate performance/corporate leverage引用本文复制引用
出版年
2024
NETL
NSTL
万方数据