摘要
以2007~2021年沪深A股上市公司数据,探究企业数字化转型对其“存贷双高”的作用及其机制。结果表明:企业数字化转型抑制了其“存贷双高”,且对不同类型“存贷双高”的抑制作用有明显差别,即表现为抑制异常型“存贷双高”;企业数字化转型通过弱化代理问题、强化内部ESG治理机制、缓解企业融资约束以及弱化经济政策不确定性的影响等途径作用于企业“存贷双高”;相较于国有企业,非国有企业数字化转型能显著抑制企业“存贷双高”。鉴于此,应大力支持企业数字化转型,抑制当前较为普遍的“存贷双高”现象,降低企业运行中的财务风险。
Based on the data of A-share listed companies in Shanghai and Shenzhen from 2007 to 2021,the results show that the digital transformation of enterprises has inhibited the"high deposits and loans",and the inhibition effect on different types of"high deposits and loans"is obviously different,namely,the inhibition of abnormal"high deposits and loans".The digitalized transformation of enterprises has played a role in the"high deposits and loans"of enterprises by weakening the agency problem,strengthening the internal ESG governance mechanism,easing the financing constraints of enterprises and weakening the impact of economic policy uncertainty.The digital transformation of non-state-owned enterprises can significantly inhibit the"high deposits and loans"of enterprises.Therefore,we should vigorously support the digital transformation of enterprises which can help curb the current common phenomenon of"high deposits and loans"and reduce financial risks in the operation of enterprises.
作者
李娜
邵剑兵
LI Na;SHAO Jian-bing(Business School of Economics Department,Liaoning University,Shenyang 110036,China)
出处
《经济体制改革》
北大核心
2023年第2期121-129,共9页
Reform of Economic System
基金
国家社会科学基金一般项目“大数据情境下国有企业高管层激励与监管动态耦合研究”(18BGL081)。
关键词
数字化转型
存贷双高
融资约束
内部ESG治理
digital transformation
high deposits and loans
financing constraints
internal ESG governance
