Does the Integration of Digital and Real Industries Enhance Corporate Labor Investment Efficiency?
As the integration of the digital and real economies progresses,the study of its economic effects in businesses becomes increasingly vital.This research,based on data from A-share listed companies from 2011 to 2021 and focused on the technological integration of digital and real industries,examines the impact of this integration on corporate labor investment efficiency and its mechanisms.The findings reveal a significant positive influence of this integration on impro-ving labor investment efficiency,primarily achieved through easing financing constraints and enhancing corporate trans-parency.Furthermore,heterogeneity analysis shows that this effect is more pronounced in companies in growth and matu-rity stages,those with high managerial efficiency,those inclined towards real technologies,and those in highly concen-trated industries.
digital economytechnological integrationlabor investment efficiencyfinancing constraintsinformation a-symmetry
NETL
NSTL
万方数据
