Strategic Aggressiveness,Digital Transformation and Enterprise Value Enhancement
This study empirically examines the impact of strategic aggressiveness on enterprise value using panel data of China A-share listed companies in Shanghai and Shenzhen from 2010 to 2022,and the results show that the more aggressive a enterprise's strategy,the more effective in enhancing enterprise value.In addition,digital transformation positively moderates the relationship between strategic aggressiveness and enterprise value,while participation of state-owned shareholder negatively moderates the relationship between strategic aggressiveness and enterprise value.The above conclusions of this study remain robust and reliable after changing the core variable measures,replacing the regression model,and lagging the variables.The results of heterogeneity analysis further show that the enhancement of enterprise value by strategic aggressiveness is more obvious in non-state-owned enterprises and high-tech enterprises.This study provides theoretical support and empirical evidence for enterprises to shape a new type of strategic cognition,promote digital transformation,and contribute to value enhancement.
strategic aggressivenessdigital transformationenterprise valueparticipation of state-owned shareholders
万方数据
维普
