数字化转型对企业可持续发展的影响——基于中国A股上市公司数据的实证分析  

The impact of digital transformation on the sustainable development of enterprises--An empirical analysis based on the data of Chinese A-share listed companies

作　　者：张懿文 余向群[1] 王海艳 ZHANG Yiwen;YU Xiangqun;WANG Haiyan(College of Economics and Management,Fujian Agriculture and Forestry University,Fuzhou,Fujian 350002,China;College of Computerand Information Sciences,Fujian Agriculture and Forestry University,Fuzhou,Fujian 350002,China)

机构地区：[1]福建农林大学经济与管理学院,福建福州350002 [2]福建农林大学计算机与信息学院,福建福州350002

出　　处：《福建农林大学学报（哲学社会科学版）》2023年第2期89-97,共9页Journal of Fujian Agriculture and Forestry University(Philosophy and Social Sciences)

基　　金：福建省人民政府发展研究中心决策咨询研究重大课题(2022JCZX018)。

摘　　要：基于2011—2021年中国沪深A股上市企业的面板数据,采用固定效应模型和中介效应模型实证检验数字化转型对企业可持续发展的影响,以及内部控制、绿色创新、融资约束在数字化转型对企业可持续发展影响中的中介效应。研究发现:数字化转型有益于企业可持续发展,经过内生性及稳健性检验后,该结论依然成立;从作用机制来看,企业的数字化转型通过改善企业内部控制质量、提高绿色创新动能、缓解融资约束等进一步促进企业可持续发展;从异质性分析来看,相比于大企业和国有企业,数字化转型对中小企业和非国有企业可持续发展的正向促进作用更大。据此,提出企业要落实数字化转型战略,政府要升级政策保障措施等,以推进企业可持续发展。Taking the data of China A-share listed companies in Shanghai and Shenzhen from 2011 to 2021 as samples,this paper used fixed-effect model and mediating-effect model to empirically test the impact of digital transformation on the sustainable development of enterprises.It also examines the mediating effects of internal control,green innovation,and financing constraints in the impact of digital transformation on the sustainable development of enterprises.The study found that digital transformation is beneficial to the sustainable development of enterprises.After endogeneity and robustness tests,this conclusion still holds.In terms of the mechanism of action,digital transformation of further contributes to sustainable development of enterprises by improving the quality of internal controls,increasing green innovation momentum and easing financing constraints.The heterogeneity analysis found that compared with large enterprises and state-owned enterprises,digital transformation has a greater positive effect on the sustainable development of small and medium-sized enterprises and non-state-owned enterprises.According to the results,this study proposes that enterprises should implement digital transformation strategies and the government should upgrade policy safeguards,so as to promote the sustainable development of enterprises.

关 键 词：数字化转型 企业可持续发展 内部控制 绿色创新 融资约束 

分 类 号：F27[经济管理—企业管理]