摘要
本文以2007—2021年沪深A股所有上市公司为研究对象,通过回归分析检验了在数字经济时代企业数字化转型程度对企业价值的影响,并采用高管持股比例和企业税收负担作为中介进行检验,同时根据产权性质和企业规模进行异质性检验。研究发现:企业数字化转型程度与企业价值呈显著正相关关系,高管持股比例和税收负担是数字化转型程度影响企业价值的有效中介,且通过异质性检验发现国有企业和中小企业受数字化转型的影响更大。本文丰富了数字化转型和企业价值的相关研究,对促使企业进行数字化转型、促进企业的健康成长、增加企业的价值、完善市场经济体制具有重要意义。
This paper takes all A-share listed companies in Shanghai and Shenzhen from 2007 to 2021 as the research object,and tests the impact of the degree of digital transformation of enterprises on the value of enterprises in the era of digital economy through regression analysis.It uses the proportion of executives′shareholding and corporate tax burden as the intermediary to conduct the test as well as the heterogeneity test according to the nature of the property rights and the size of the company.The study found that the degree of digital transformation has a significant positive correlation with enterprise value.The shareholding ratio of executive and tax burden are effective mediators for the degree of digital transformation affecting enterprise value.The heterogeneity test reveals that state-owned enterprises and SMEs are more affected by digital transformation.The article enriches the research related to digital transformation and enterprise value,and is of great significance to induce digital transformation,facilitate the healthy growth of enterprises,increase value of enterprise,and improve the market economies system.
作者
王治
黄思贝
WANG Zhi;HUANG Sibei(School of Economics&Management,Changsha University of Science&Technology,Changsha,Hunan 410076)
出处
《贵州商学院学报》
2022年第3期48-58,共11页
Journal of Guizhou University Of Commerce
关键词
数字化
数字化转型程度
企业价值
高管持股
税收负担
digitization
degree of digital transformation
enterprise value
executive ownership
the tax burden
