中国自由贸易试验区与企业数字化转型  

China pilot free trade zone and enterprise digital transformation

作　　者：任晓怡[1] 苏雪莎 常曦[1] 汤子隆[1] REN Xiaoyi;SU Xuesha;CHANG Xi;TANG Zilong(Fintech Engineering Technology Development Center,Guangdong University of Finance,Guangzhou 510521,China;School of finance,Guangdong University of Foreign Studies,Guangzhou 510006,China)

机构地区：[1]广东金融学院金融科技工程技术开发中心,广东广州510521 [2]广东外语外贸大学金融学院,广东广州510006

出　　处：《中国软科学》2022年第9期130-140,共11页China Soft Science

基　　金：国家社科基金一般项目“高质量发展背景下货币政策工具组合对民营企业融资结构优化的调节效应研究”(19BJY248);广东省哲学社会科学规划青年项目“高质量发展背景下粤港澳大湾区金融科技创新的空间效应及其监管研究——基于广东省案例”(GD19YYJ06);国家自然科学基金面上项目“利率市场化结构效应的分层传导与区域金融异质性风险防范研究”(71874038)。

摘　　要：探究数字经济新时代下自由贸易试验区的设立对微观企业数字化转型的重要影响。借助中国2007-2018年沪深两市A股上市企业数据与宏观经济数据集,实证检验自由贸易试验区设立与企业数字化转型二者间的内生关联机制。研究发现,自由贸易试验区设立能够显著促进企业数字化转型。进一步地,基于企业资本、业务结构和数字化转型维度等多视角分组,这种驱动作用展现了较强的异质性特征。深入研究传导路径发现,自由贸易试验区在宏观层面能够促进市场竞争和提高市场化程度,在微观层面提升企业内部控制质量、稳定财务状况以及促进创新投入,因而对企业数字化转型大有裨益。特别地,不同设立批次的自由贸易试验区对企业数字化转型同样有着差异化影响,第三批内陆主导型自由贸易试验区的表现尚有较大提升空间,在与“一带一路”倡议加强联动后,自由贸易试验区的制度红利有明显改善。This article aims to explore the important impact of the establishment of free trade pilot zones on the digital transformation of micro-enterprises in the new era of digital economy. With the aid of China’s 2007-2018 Shanghai and Shenzhen A-share listed companies data and macroeconomic data sets, empirically test the endogenous correlation mechanism between the establishment of free trade pilot zones and enterprise digital transformation. The study found that the establishment of a pilot free trade zone can significantly promote enterprise digital transformation. Furthermore, based on multi-perspective differences in corporate capital, business structure, and digital transformation dimensions, this driving effect shows strong heterogeneity. In-depth research on the transmission path found that the free trade zone can promote market competition and increase marketization at the macro level, improve the quality of internal control of enterprises, stabilize financial conditions, and promote innovation investment at the micro level, which is of great benefit to enterprise digital transformation. In particular, the establishment of different batches of free trade pilot zones also has a differentiated impact on enterprise digital transformation, and the performance of the third batch of inland-led pilot free trade zones still has much room for improvement. It is urgent to strengthen the linkage effect with “Belt and Road”initiative.

关 键 词：自由贸易试验区 企业数字化转型 机制检验 “一带一路” 

分 类 号：F062.9[经济管理—政治经济学]