Effects of Internal Control on Digital Technology Innovation
Digital technology innovation is a key driver of high-quality economic development.This paper selects publicly listed companies on China's A-share market from 2009 to 2022 as the sample and utilizes text analysis to identify corporate digital patents,thereby illustrating the level of digital technology innovation.The findings indicate that high-quality internal controls significantly promote digital technology innovation,especially in aspects such as asset safety,operations,and strategy,which notably enhance the quantity of innovations.Additionally,reporting,asset safety,operations,and strategies significantly improve the quality of innovation.Robustness tests using instrumental variables in a two-stage least squares model and a difference-in-differences model with the implementation of internal control audit policies further verify the reliability of these results.Further research reveals that internal controls have an impact on digital technology innovation through mechanisms such as enhancing resource allocation efficiency,reducing financing constraints,and strengthening cooperative culture.These findings provide empirical evidence and policy suggestions for enterprises to strengthen internal controls to promote digital technology innovation.
NETL
NSTL
万方数据
