数字化转型和出口持续时间：对公司财务绩效的影响

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

Pacific-Basin Finance Journal Pub Date : 2025-04-15 DOI:10.1016/j.pacfin.2025.102780

Xiaohui Xu , Xiaoshi Chen , Jun Yang , Qiuzhen Li

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引用次数: 0

摘要

本研究通过考察数字化转型对中国上市公司出口持续时间的影响来探讨数字化转型的财务影响。利用异质企业贸易理论，我们认为数字化转型提高了生产率和需求响应能力，使企业能够维持更长的出口关系并加强财务成果。利用2007-2016年中国a股上市公司的公司层面面板数据，我们采用互补对数-对数（log-log）生存模型来估计数字化转型对出口持续时间的影响。结果表明，数字化转型显著延长了出口周期，特别是对于大型企业、技术密集型产业和竞争市场中的企业。进一步分析表明，延长出口时间与企业盈利能力、收入增长和金融稳定呈正相关。这些发现强调了数字投资在提高新兴市场出口弹性和长期业绩方面的战略财务价值。

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Digital transformation and export duration: Implications for firm financial performance

This study explores the financial implications of digital transformation by examining its effect on export duration among Chinese listed firms. Drawing on heterogeneous firm trade theory, we argue that digital transformation enhances productivity and demand responsiveness, allowing firms to sustain longer export relationships and strengthen financial outcomes. Using firm-level panel data from A-share listed companies in China spanning 2007–2016, we employ a complementary log-log (clog-log) survival model to estimate the effect of digital transformation on export duration. The results indicate that digital transformation significantly extends export spells, particularly for large firms, technology-intensive industries, and firms in competitive markets. Further analysis reveals that prolonged export duration is positively associated with firm profitability, revenue growth, and financial stability. These findings underscore the strategic financial value of digital investments in enhancing export resilience and long-term performance in emerging markets.

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来源期刊

Pacific-Basin Finance Journal BUSINESS, FINANCE-

CiteScore

6.80

自引率

6.50%

发文量

157

期刊介绍： The Pacific-Basin Finance Journal is aimed at providing a specialized forum for the publication of academic research on capital markets of the Asia-Pacific countries. Primary emphasis will be placed on the highest quality empirical and theoretical research in the following areas: • Market Micro-structure; • Investment and Portfolio Management; • Theories of Market Equilibrium; • Valuation of Financial and Real Assets; • Behavior of Asset Prices in Financial Sectors; • Normative Theory of Financial Management; • Capital Markets of Development; • Market Mechanisms.