The integration of digital transformation and the real economy is of great significance to economic development.This paper finds that digital transformation significantly promotes enterprises'investment in the real economy,and the conclusion is still valid after the robustness test.The mechanism test shows that digital transformation can inhibit the financialization of enterprises,promote scientific and technological innovation of enterprises,and improve the level of internal control of enterprises,thereby promoting the investment of enterprises in the real economy.The heterogeneity test shows that digital transformation has a stronger role in promoting the real economy of mature enterprises,and the application of big data technology,cloud computing technology and digital technology in the real economy is more significant.
Digital TransformationInvestment In The Real EconomyScientific and Technological InnovationInternal Controls
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