摘要
2019新冠疫情对企业造成了前所未有的冲击,与此同时,近年来数字化日益成为企业创新发展与经济高质量发展的新动能和关键支撑。为此,利用企业层面的数据,基于熵值法构建数字化指数,可以实证研究企业数字化关于抵御和缓解疫情冲击的经济弹性。我们发现,在控制企业需求特征的条件下,与数字化受限的企业相比,数字化企业在疫情期间面临更低的销售额下降,平均减少幅度为5.5个百分点,这表明数字化在疫情期间起到了对冲作用。关于数字化的异质性分析进一步表明,我国东部及南方区域的企业、国有控股企业和外资企业以及处于成熟期的企业等,这种弹性效应表现更为明显。中介机制检验则证实数字化是通过提高企业创新能力、缓解融资约束与乐观增长预期等渠道来影响和调节疫情对企业业绩的冲击。在此基础上,我们的政策建议是应尽快调整“后疫情”时代的数字化战略,缩小我国地域和企业间的数字“鸿沟”,加大数字化投资与扶持,实现全面、均衡的企业数字化。
The COVID-19 pandemic has an unprecedented impact on enterprises.Meanwhile,the recent digitalization is becoming a new driver and key support of enterprises’innovative development and econom-ic high-quality growth.Using the data of enterprises and building digitalization indexes based on the entro-py evaluation method,an empirical study is done on entrepreneurial digitalization in relation to the econom-ic elasticity of an enterprise in withstanding and easing the impact of the pandemic.It is discovered that when the characteristics of entrepreneurial demands are under control,digital enterprises,compared with those of a limited digitalization,suffered a lower sales drop during the pandemic,with an average reduc-tion rate of 5.5 percent.This proves that digitalization has softened the impact of the pandemic.An hetero-geneous analysis of digitalization further shows that enterprises in the Chinese eastern and southern re-gions,state-holding enterprises,foreign-funded enterprises,and enterprises in their maturity have dis-played a more distinct elastic effect.A mediation mechanism test verifies that digitalization has affected and adjusted the impact of the pandemic on corporate performance via improving the innovation capability of en-terprises,easing financing constraints,and offering optimistic growth predictions.Based on the above,the policy advice is to adjust the digital strategy as soon as possible in the post-pandemic era,narrowing down the digital gap between different regions and enterprises,increase the investment on and support for digita-lization,and achieve a comprehensive and balanced entrepreneurial digitalization.
作者
徐金球
XU Jinqiu(The School of Accounting,Hebei Finance University,Baoding Hebei 071051)
出处
《江汉学术》
2023年第4期14-25,共12页
JIANGHAN ACADEMIC
基金
中国人民银行智库项目“新冠疫情冲击与金融支持”(20PBC362)。
关键词
新冠疫情
数字化
企业弹性
熵值法
COVID-19 pandemic
digitalization
entrepreneurial elasticity
entropy evaluation method
