The Influence Mechanism of Digital Transformation Degree on Enterprise Risk-taking Level:An Empirical Analysis Based on the Mediating Effect of Enterprise Internal Control Quality
There is an inherent correlation between the degree of corporate digital transformation and shifts in enterprise risk-taking levels.Drawing upon principal-agent theory and internal control theory,this study utilizes relevant and valid data from China's A-share listed companies in non-financial and non-information industries,covering the period from 2010 to 2020.Employing the fixed effect model,we empirically investigate the relationship between the extent of corporate digital transformation and risk-taking levels.The findings validate that the relationship between the degree of enterprise digital transformation and risk-taking levels follows a positive U-shaped curve.Initially,as the enterprise embarks on its digital transformation journey,its risk-taking level decreases as the degree of digital transformation increases.However,once digital transformation reaches a certain threshold,the risk-taking level begins to increase with further digital transformation.Additionally,the impact of the degree of digital transformation on risk-taking levels operates through the mediating effect of the key variable-the quality of internal controls within enterprises.Moreover,this impact exhibits significant heterogeneity observed across different scenarios.This study elucidates how digital transformation influences corporate risk-taking levels through the intermediary role of internal control quality.These insights contribute to the existing literature on corporate management innovation and risk prevention,providing a theoretical foundation for governmental initiatives promoting the digital economy and fostering enterprise digitalization.
Digital transformationRisk-taking levelU-shaped curveInternal control qualityMe-diating effect
万方数据
