摘要
数字化转型已成为推动企业发展的新动能,对企业效率会产生重要影响。使用2011—2020年中国A股制造业上市企业数据,通过Python文本识别技术测算出企业的数字化转型程度,实证检验数字化转型对企业资本配置效率的影响及机制。研究发现,数字化转型有利于提升企业资本配置效率,该结果在数字经济发展环境更好和资产专用性更高的企业、国有企业、资本密集型和技术密集型企业中更加显著。进一步的影响机制分析显示,数字化转型通过缓解信息不对称、优化人力资本结构和提升企业营运能力对企业资本配置效率的提升发挥了作用。结论有助于评估企业数字化转型的经济效果,并对政府制定数字化相关政策、改善企业资本配置效率有重要启示。
Digital transformation has become a new driving force for enterprise development and will go on to have an important impact on enterprise efficiency.This paper uses the data of listed companies in China's A-share manufacturing industry from 2011 to 2020 as well as Python text recognition technology to calculate the degree of digital transformation of enterprises.The study finds that digital transformation increases the efficiency of corporate capital allocation and that this effect is more significant in companies with a better digital economy development environment and higher asset specificity,state-owned enterprises,capital-intensive enterprises,and technology-intensive enterprises.Further analysis of the impact mechanism demonstrates that digital transformation has a positive impact on the capital allocation efficiency of enterprises by alleviating information asymmetry,optimizing the structure of human capital,and improving the operational capabilities of enterprises.The conclusions of this paper are helpful for evaluating the economic effects of digital transformation of enterprises and have important implications for the government's attempts to formulate digital-related policies and improve the efficiency of enterprise capital allocation.
作者
郭吉涛
王子晋
GUO Jitao;WANG Zijin(Department of Economics and Management,Qilu University of Technology(Shandong Academy of Sciences),Jinan 250353,China)
出处
《南京财经大学学报》
CSSCI
2023年第3期67-76,共10页
Journal of Nanjing University of Finance and Economics
基金
国家社会科学基金一般项目“数据赋能对中小企业创新的影响机理及效应测度研究”(20BJY111)。
关键词
数字化转型
企业资本配置效率
信息不对称
人力资本结构
营运能力
digital transformation
enterprise capital allocation efficiency
information asymmetry
human capital structure
operating capacity
