普通投资者数字化关注与企业数字化转型  

Digital Attention of Ordinary Investors and Digital Transformation of Enterprises

作　　者：郭元源[1] 吴亮 池仁勇[2] GUO Yuan-yuan;WU Liang;CHI Ren-yong(College of Management,Zhejiang University of Technology,Hangzhou 310023;China Institute for Small and Medium Enterprise,Zhejiang University of Technology,Hangzhou 310023)

机构地区：[1]浙江工业大学管理学院,杭州310023 [2]浙江工业大学中小企业研究院,杭州310023

出　　处：《软科学》2023年第11期42-47,64,共7页Soft Science

基　　金：国家社会科学基金项目(20BGL013)。

摘　　要：以2013—2020年制造业上市公司为样本,考察普通投资者数字化关注对企业数字化转型的影响。研究发现:普通投资者数字化关注作为一种非正式制度压力,对企业数字化转型具有促进作用;积极参与投资者互动的企业在这种非正式制度压力下数字化转型水平更高;而投资者数字化关注的积极情绪则会削弱这一作用;信息技术背景董事和首席信息执行官职位的设立均强化了非正式制度压力下企业数字化转型程度。进一步分析表明,当数字化关注的异常幅度较高或问题篇幅较长时,对企业数字化转型的促进作用更为明显;普通投资者数字化关注对企业数字化转型的影响具有一定的长期效应。This paper examines the impact of ordinary investors’digital concerns on firms’digital transformation using a sample of listed manufacturing firms from 2013 to 2020.It finds that ordinary investors’digital transformation concerns,as an informal institutional pressure,have a facilitating impact on firms’digital transformation.Firms actively engaging in investor interactions increase the degree of digital transformation under this informal institutional pressure.The positive sentiment of investors’digital transformation concerns weakens this effect,and the IT background director and CIO both reinforce this effect.Further investigation reveals that the facilitation of digital transformation is more pronounced when the abnormal magnitude of digital transformation concerns is higher,or the length of questions is longer;the impact of ordinary investors’digital transformation concerns on firms’digital transformation is long-lasting.

关 键 词：普通投资者 数字化关注 非正式制度 数字化转型 

分 类 号：F270.7[经济管理—企业管理] F832.51[经济管理—国民经济] F425