Does Digital Transformation Enhance Corporate Risk-Taking?: Evidence from China

IF 0.2 4区社会学 Q4 AREA STUDIES

African and Asian Studies Pub Date : 2022-10-24 DOI:10.1163/15692108-12341569

Yanyong Wang, Y. Guo

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Abstract

Corporate risk-taking, as an essential factor in corporation development, is influenced by the enterprise’s strategic decision-making. Today, with the rapid development of science and technology, digital technology has a profound effect on the whole society and enterprises. Then, one question is proposed: how should enterprises make strategic decisions to deal with the current opportunities and challenges, enhance their own corporate risk-taking, and then achieve high-quality development? We collected the data from companies listed on China’s Shenzhen Stock Exchange and Shanghai Stock Exchange from 2010 to 2020. Starting from the corporate risk-taking perspective, we conducted an empirical analysis to validate the relationship between digital transformation of corporations and corporate risk-taking. We found that digital transformation of corporations enhanced corporate risk-taking. The enhanced effect was realized as digital transformation improved the information disclosure quality and asset utilization. The enhanced effect was even greater if the enterprise occupied a less favorable competitive position or received less media attention. This paper reviews the literature concerning economic consequences of enterprise digital transformation, shed new light on the enterprise’s selection of digital strategies to achieve sustainable development, and guides the digital transformation of an enterprise.

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数字化转型是否会增强企业风险承担能力？：来自中国的证据

企业风险承担作为企业发展的一个重要因素，受到企业战略决策的影响。在科技飞速发展的今天，数字技术对整个社会和企业产生了深远的影响。然后，提出了一个问题：企业应该如何做出战略决策来应对当前的机遇和挑战，增强自身的风险承担能力，进而实现高质量发展？我们收集了2010年至2020年在中国深圳证券交易所和上海证券交易所上市的公司的数据。从企业风险承担的角度出发，我们进行了实证分析，以验证企业数字化转型与企业风险承担之间的关系。我们发现，企业的数字化转型增强了企业的风险承担能力。数字化转型提高了信息披露质量和资产利用率，实现了强化效果。如果企业占据不太有利的竞争地位或受到较少的媒体关注，则增强效果会更大。本文回顾了有关企业数字化转型的经济后果的文献，为企业选择数字化战略以实现可持续发展提供了新的视角，并指导了企业的数字化转型。

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来源期刊

African and Asian Studies AREA STUDIES-

CiteScore

0.60

自引率

0.00%

发文量

期刊介绍： The journal presents a scholarly account of studies of individuals and societies in Africa and Asia. Its scope is to publish original research by social scientists in the area of anthropology, sociology, history, political science and related social sciences about African and Asian societies and cultures and their relationships. The journal focuses on problems and possibilities, past and future. Where possible, comparisons are made between countries and continents. Articles should be based on original research and can be co-authored.