Research on the Impact and Mechanism of Business Environment on Enterprise Digital Transformation
As an important external environment for the operation and development of enterprises,business environment has become an important factor to be considered in the financial decision-making of enterprises,which may affect enterprise digital transformation by affecting financial behavior of enterprises.However,empirical research on its impact on enterprise digital transformation and its mechanism are insufficient.Based on this,this paper takes A-share listed companies in Shanghai and Shenzhen stock markets from 2010 to 2020 as data sample to explore the impact of business environment on enterprise digital transformation and its mechanism.The research shows that:there is a positive correlation between business environment and enterprise digital transformation,indicating that optimizing business environment can promote enterprise digital transformation;The mechanism test shows that optimizing business environment can promote enterprise digital transformation by increasing R&D investment,improving information transparency and reducing financial risk,which constitute the main path for business environment to promote enterprise digital transformations;After further distinguishing nature of property rights,it is found that non-state-owned enterprise digital transformation is more sensitive to business environment.The research conclusions enrich relevant research in the field of business environment and enterprise digital transformation,clarify the action mechanism of business environment on enterprise digital transformation,and provide incremental empirical evidence for the government to continuously optimize business environment and enterprises to accelerate digital transformation.
business environmententerprise digital transformationR&D investmentinformation transparencyfinancial risknature of property rights
NETL
NSTL
万方数据
