Can Government Big Data Management Institutions Facilitate the Digital Transformation of Enterprises—An Empirical Study Based on Chinese A-share Listed Companies
The promotion of digital transformation solely by market forces may confront with problems such as"coordination dysfunction",hence,it is crucial for the government to play the role of the"visible hand"to exert driving effect.Taking a sample of Chinese A-share listed enterprises from 2010 to 2021,this study utilizes the quasi-natural experiment of the establishment of provincial-level government big data management institutions,and adopts a multi-period DID model to investigate its impact on enterprises'digital transformation.The empirical results indicate that the establishment of provincial-level government big data management institutions significantly promotes the digital transformation of enterprises.This conclusion re-mains robust after applying series of robustness checks,including parallel trends test,placebo tests,a PSM-DID method,and etc.Mechanism analysis shows that government big data management institutions exert indirect empowerment effects on enterprises'digital transformation through channels of alleviating financing con-straints,reducing financial risks,and enhancing firm value.Heterogeneity analysis suggests that this empowerment effect on enterprises'digital transformation is scale-preferring,technology-orientated,and targets precisely on a certain stage.The con-clusions of this study can provide novel theoretical basis and practical reference val-ue for the evaluation of the economic benefits of government big data management institutions and for the policy makings to promote the digital transformation and up-grading of enterprises.
government big data management institutionsenterprises'digital transformationmulti-period DIDempowerment effects
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