摘要
文章基于2016—2020年我国沪深两市A股上市公司数据,采用文本分析技术,以股票流动性作为资本市场的考量指标,分析我国企业数字化转型对资本市场的影响,并以内部控制质量作为中介变量,检验其作用机理与路径机制。研究结果表明,企业数字化转型为资本市场释放了利好信息,能提高股票流动性,该结论经过稳健性检验后依然成立。路径分析结果显示,企业数字化转型通过提高内部控制质量提高了股票流动性。
Based on the data of China’s A-share listed companies in Shanghai and Shenzhen from 2016 to 2020,this paper this paper adopts text analysis technology and takes stock liquidity as an indicator of capital market to analyze the impact of digital transformation of Chinese enterprises on capital market.The paper also takes the quality of internal control as an intermediary variable to test its mechanism and path mechanism.The research results show that the digital transformation of listed companies releases positive information for the capital market and can improve stock liquidity,and that this conclusion is still valid after the robustness test.The results of path analysis show that the digital transformation of listed companies improves stock liquidity by improving the quality of internal control.
作者
董琪
董莉
Dong Qi;Dong Li(Audit Department,Jilin University of Finance and Economics,Changchun 130117,China;School of Management,China Women’s University,Beijing 100101,China)
出处
《统计与决策》
CSSCI
北大核心
2023年第19期153-158,共6页
Statistics & Decision
基金
国家社会科学基金一般项目(23BTJ020)
全国统计科学研究重点项目(2020LZ12)
吉林财经大学校级课题(2022YB019)。
关键词
数字化转型
内部控制质量
股票流动性
digital transformation
internal control quality
stock liquidity
