Marketization level, digital transformation, and corporate value

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-06-15 DOI:10.1016/j.frl.2025.107779

Zongyi Zhang, Chuhan Liu

引用次数: 0

Abstract

This study examines the impact of corporate marketization level and digital transformation on corporate value based on panel data from Chinese listed companies from 2010 to 2023. The research findings indicate that the marketization level of enterprises significantly enhances their market value; there is a notable positive correlation between corporate digital technology transformation and market value; digital transformation plays an important mediating role between corporate marketization level and value; heterogeneity tests reveal that the impact of corporate marketization level on value exhibits heterogeneity between state-owned enterprises and private enterprises.

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市场化水平、数字化转型与企业价值

本文基于2010 - 2023年中国上市公司的面板数据，研究了企业市场化水平和数字化转型对企业价值的影响。研究结果表明，企业的市场化水平显著提升了企业的市场价值；企业数字化技术转型与市场价值显著正相关；数字化转型在企业市场化水平与价值之间起着重要的中介作用；异质性检验表明，企业市场化水平对价值的影响在国有企业和民营企业之间呈现异质性。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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