{"title":"Exploring the effect of digital transformation on firm resilience: Evidence from China","authors":"","doi":"10.1016/j.asieco.2024.101812","DOIUrl":null,"url":null,"abstract":"<div><div>Digital transformation has become a new driving force for the high-quality development of China's economy, and is also an important pivot point to safeguard the development of enterprises and promote the recovery of industries in an uncertain environment. In this paper, we apply textual analysis to measure the digital transformation index using the data of listed companies in China and explore the impact of digital transformation on corporate resilience. The results, which are based on a robustness test and endogeneity test, lead to the conclusion that digital transformation can have a significantly positive impact on enterprise resilience. Mechanism analysis finds that enterprise green innovation and total factor productivity (TFP) are important channels through which digital transformation significantly affects a firm’s resilience. Heterogeneity analysis further shows that the effect is more pronounced among state-owned enterprises (SOE), non-high-tech enterprises, labor-intensive enterprises and technology-intensive enterprises. These findings will help guide policies that promote digital transformation in order to resist the negative effects of external shocks.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":2.9000,"publicationDate":"2024-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Asian Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1049007824001076","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Digital transformation has become a new driving force for the high-quality development of China's economy, and is also an important pivot point to safeguard the development of enterprises and promote the recovery of industries in an uncertain environment. In this paper, we apply textual analysis to measure the digital transformation index using the data of listed companies in China and explore the impact of digital transformation on corporate resilience. The results, which are based on a robustness test and endogeneity test, lead to the conclusion that digital transformation can have a significantly positive impact on enterprise resilience. Mechanism analysis finds that enterprise green innovation and total factor productivity (TFP) are important channels through which digital transformation significantly affects a firm’s resilience. Heterogeneity analysis further shows that the effect is more pronounced among state-owned enterprises (SOE), non-high-tech enterprises, labor-intensive enterprises and technology-intensive enterprises. These findings will help guide policies that promote digital transformation in order to resist the negative effects of external shocks.
期刊介绍:
The Journal of Asian Economics provides a forum for publication of increasingly growing research in Asian economic studies and a unique forum for continental Asian economic studies with focus on (i) special studies in adaptive innovation paradigms in Asian economic regimes, (ii) studies relative to unique dimensions of Asian economic development paradigm, as they are investigated by researchers, (iii) comparative studies of development paradigms in other developing continents, Latin America and Africa, (iv) the emerging new pattern of comparative advantages between Asian countries and the United States and North America.