数字化转型可以减少企业股价暴跌吗?
Xing Zhao1,2, Xiangqian Li1, Changman Ren3
1School of Finance, Tianjin University of Finance and Economics, Tianjin, China.
PloS one
|December 14, 2023
概括
企业的数字化转型减少了股价崩盘的风险. 金融化和会计保守主义在很大程度上调解了这一效应,为企业金融和风险管理提供了新的见解.
科学领域:
- 企业金融公司财务
- 信息系统信息系统信息系统
- 风险管理 风险管理
背景情况:
- 对于投资者和监管机构来说,了解影响股价波动的因素至关重要.
- 数字化转型日益普遍,需要检查其对企业金融稳定的影响.
- 现有的研究尚未充分探索数字化转型与股价崩盘风险之间的相互作用.
研究的目的:
- 调查企业数字化转型对股价崩盘风险的影响.
- 分析金融化和会计保守主义在这种关系中的中介作用.
- 为数字化转型与股价不稳定之间的联系提供一种新的解释机制.
主要方法:
- 利用了来自中国2599家上市公司 (2010-2019) 的数据.
- 通过单词频率分析开发了企业数字化转型指标.
- 采用固定效应和介导效应模型来分析影响和机制.
主要成果:
- 企业数字化转型被发现可以显著降低股价崩盘风险.
- 金融化和会计保守主义表现出显著的调解效应.
- 这些发现突出了数字化影响市场风险的复杂途径.
结论:
- 本研究通过结合数字化转型,为股价崩盘风险文献做出了贡献.
- 它阐明了金融化和会计保守主义的调解作用,提供了新的理论见解.
- 这项研究提供了对数字化转型如何影响企业财务风险和市场行为的细微了解.
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