The Impact of Digitalization on the Financial Risks of GEM-listed Companies and Corresponding Strategies
Based on the Digital Economy Index from 2012 to 2020 and related data of companies listed on the Growth Enterprise Market(GEM),this paper discusses the impact of digital development on the financial risk of GEM-listed companies from the perspective of corporate financial risk.It explores the mechanism by which digitali-zation affects corporate financial risk.The research findings indicate that,at the overall level,digitalization signifi-cantly increases the financial risk of small and medium-sized enterprises.Heterogeneous analysis reveals that com-panies located in the eastern region,with a high degree of digital transformation,and insufficient information disclo-sure are more prominently affected by the digital economy.Furthermore,digitalization intensifies competition among enterprises,thereby increasing the likelihood of financial risk.This conclusion provides insights and guidance for financial risk management in the digital environment of small and medium-sized enterprises.Governments and en-terprises should work together to formulate reasonable policies and internal governance measures,promote digital transformation,and enhance competitiveness and sustainable development capabilities.
万方数据
维普
