Exploring the effect of digital transformation on firm resilience: Evidence from China

IF 2.9 3区 经济学 Q1 ECONOMICS
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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.
探索数字化转型对企业复原力的影响:来自中国的证据
数字化转型已成为中国经济高质量发展的新动力,也是在不确定环境下保障企业发展、促进产业复苏的重要支点。本文利用中国上市公司数据,运用文本分析法测算数字化转型指数,探讨数字化转型对企业抗风险能力的影响。基于稳健性检验和内生性检验的结果得出结论:数字化转型会对企业恢复力产生显著的正向影响。机制分析发现,企业绿色创新和全要素生产率(TFP)是数字化转型显著影响企业复原力的重要渠道。异质性分析进一步表明,这种影响在国有企业、非高科技企业、劳动密集型企业和技术密集型企业中更为明显。这些发现将有助于指导促进数字化转型的政策,以抵御外部冲击的负面影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
4.70
自引率
9.40%
发文量
90
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.
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