Digital Transformation and Corporate Total Factor Productivity: Empirical Evidence Based on Listed Enterprises

Zeng, Guoyan; Lei, Linxing

doi:10.1155/2021/9155861

Cited by 31 publications

(34 citation statements)

References 12 publications

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“…Some findings show that digital transformation has improved the total factor productivity of enterprises by driving enterprise innovation, human capital structure, deep integration of the manufacturing industry and modern service industry, and enterprise operation levels [8]. And in the process of digital transformation, firms have improved their management efficiency and technical level so as to improve their productivity [9]. Moreover, digital transformation reduces the external transaction costs faced by firms, effectively promotes the level of the professional division of labor, and improves the productivity of enterprises [10].…”

Section: Introductionmentioning

confidence: 99%

Digital Transformation, Corporate Innovation, and International Strategy: Empirical Evidence from Listed Companies in China

2022

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This paper empirically investigates the impact of digital transformation on corporate international strategy. With a dataset of the Chinese stock market from 2014 to 2020, our empirical results reveal that digital transformation has a positive impact on the international strategy of Chinese enterprises. More specifically, firms with digital transformation are more likely to implement international strategy, and firms with a higher degree of digital transformation are associated with a higher level of internationalization. In addition, our empirical results reveal that corporate innovation exhibits the mediation effect. Moreover, our findings show that the impact of digital transformation is more pronounced for private firms and non-high-tech enterprises, and this impact is also moderated by high institutional development in eastern China. Our findings survive numerous robustness checks.

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Section: Introductionmentioning

confidence: 99%

Digital Transformation, Corporate Innovation, and International Strategy: Empirical Evidence from Listed Companies in China

2022

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“…This transformation affects different levels and steps of output creation in companies, including the way firms interact with consumers and the way they do business (Kretschmer & Khashabi, 2020). The existing studies have shown that corporate digital transformation helps to reduce corporate costs, increase corporate manage-ment efficiency, and promote corporate technological progress (Zeng & Lei, 2021). In this context, it is of great academic value and practical significance to discuss the economic consequences of digital transformation.…”

Section: Introductionmentioning

confidence: 99%

“…In this context, it is of great academic value and practical significance to discuss the economic consequences of digital transformation. At present, scholars have studied the economic consequences of digital transformation on corporate performance, total factor productivity, merge and acquisitions, international strategy and other aspects (Zeng & Lei, 2021;Chen & Hao, 2022;Gao et al, 2022), but less attention is paid to the impact of enterprise digital transformation on financing costs.…”

Section: Introductionmentioning

confidence: 99%

Enterprise digital transformation and debt financing cost in China?s A-share listed companies

Sun

Zhang

Vochоzka

et al. 2022

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Research background: The rapid development of digital economy has set off a new wave of enterprise reform. Developing the digital economy is not only an urgent requirement of the current situation, but also an important way to meet the people's better life. Purpose of the article: This paper attempts to reveal the important role of the development of digital technology on the debt financing cost of micro enterprises, and provide micro evidence for the integration of digital economy and real economy. At the same time, this paper wants to provide relevant guidance for formulating digital related policies and reducing the financing cost of the real economy. Methods: Taking China?s A-share listed companies from 2007 to 2020 as a sample, this paper empirically tests the impact of enterprise digital transformation on debt financing cost and its mechanism. In the robustness test, this paper uses the measures of changing independent variables and dependent variables, instrumental variable method and quantile regression method. In the mechanism test, this paper uses the intermediary effect model. In the further study, this paper uses the method of group regression. Findings & value added: The study finds that the digital transformation of enterprises significantly reduces the cost of debt financing. Mechanism tests show that the role of enterprise digital transformation in reducing debt financing costs is mainly realized by reducing information asymmetry and alleviating agency problems. Further tests show that the relationship between enterprise digital transformation and debt financing cost is affected by the degree of market competition, whether it is a high-tech enterprise and audit quality. When the degree of market competition is high, the enterprise is a high-tech one, or it is audited by the four major international accounting firms, the effect of enterprise digital transformation on the reduction of debt financing cost is more significant. The method used in this paper is also applicable to the study of other economic management problems. This paper proves a positive significance of digital transformation, which is conducive to promoting the digital transformation of enterprises. Especially for those enterprises in non-high-tech industries, they should speed up the pace. At the same time, this paper has a certain guiding role for the introduction and implementation of policies to encourage digital transformation.

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“…is mathematical model can minimize the risk of enterprise digital transformation failure. Zeng et al, [18] used the company's listing development data for many years to study the relationship between the digital transformation of enterprises and the mechanism of action. e results of the study show that the digital transformation of enterprises can promote the improvement of factor productivity.…”

Section: Related Workmentioning

confidence: 99%

Key Factors Identification and Path Selection of Enterprise Digital Transformation under Multicriteria Interaction

Liu

2022

Mathematical Problems in Engineering

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Enterprise digital transformation is a must-go phase in today’s market, for both large and small businesses. This is determined by the development of the market economy and people’s consumption concept. However, enterprises will face many challenges and factors in the process of digital transformation. For enterprise managers, it is more difficult to deal with these complex data and factors. Moreover, the digital transformation of enterprises needs to consider more development goals. For small businesses, the digital transformation of a business is even more difficult. This requires a full understanding of the key factors and development paths of the enterprise in the process of enterprise digital transformation. If the key factors of the enterprise and the reasonable development path of the enterprise cannot be fully grasped in the process of digital transformation of the enterprise, it will easily lead to the failure of the transformation of the enterprise. Therefore, in the process of enterprise transformation, it is necessary to fully consider the key factors faced by the enterprise and the reasonable development path of the enterprise. This study uses the multicriteria optimization algorithm and ConvLSTM method to study the key factors and paths in the digital transformation of enterprises. The research results show that the multicriteria optimization algorithm can efficiently handle multiple development goals in the digital transformation of enterprises, and the ConvLSTM algorithm can also accurately predict the key factors in the digital transformation of enterprises.

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Digital Transformation and Corporate Total Factor Productivity: Empirical Evidence Based on Listed Enterprises

Cited by 31 publications

References 12 publications

Digital Transformation, Corporate Innovation, and International Strategy: Empirical Evidence from Listed Companies in China

Digital Transformation, Corporate Innovation, and International Strategy: Empirical Evidence from Listed Companies in China

Enterprise digital transformation and debt financing cost in China?s A-share listed companies

Key Factors Identification and Path Selection of Enterprise Digital Transformation under Multicriteria Interaction

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