企业数字化转型和融资限制:机构投资者的温和效应
Yu Gao1, Huiyun Yang1, Xiaojie Sun1
1School of Business, Qingdao University, Qingdao, 266071, China.
Heliyon
|July 18, 2024
概括
数字化转型显著降低了中国企业的融资限制. 增加机构所有权进一步加强了这一积极效应,支持可持续发展.
科学领域:
- 商业和经济学 商业和经济学
- 信息系统信息系统信息系统
背景情况:
- 数字化转型对于数字时代的可持续发展至关重要.
- 了解其对企业金融的影响对于经济增长至关重要.
研究的目的:
- 调查企业数字化转型与融资限制之间的关系.
- 检查机构所有权在这种关系中的调节作用.
主要方法:
- 分析了3,508家中国A股上市公司 (2007-2020) 的24,103份公司年度观察报告.
- 用数字技术中的无形资产占比来衡量数字化转型.
- 使用SA指数评估融资约束.
主要成果:
- 数字化转型显著减轻了融资限制.
- 更高的机构所有权放大了数字化转型和融资约束之间的负相关性.
- 调查结果与动态能力理论一致,该理论涉及数字化转型带来的经济后果.
结论:
- 数字化转型是缓解融资限制的有效策略.
- 促进数字化转型的政策可以促进有利的商业环境.
- 公司应该利用数字化转型来改善金融可访问性.
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