Digital Transformation and Corporate Financial Risk:Evidence from Listed Companies in  

作　　者：Xuanhong Chen Jiannan Chen 

机构地区：[1]School of Accounting and Finance,The Hong Kong Polytechnic University,Hongkong,China [2]School of Economics,Guizhou University,Guizhou,China

出　　处：《经济管理学刊（中英文版）》2024年第3期181-197,共17页Economic Management Journal

摘　　要：As a core issue in enterprise operation management,corporate financial risk is directly related to the survival and development of enterprises,and digital transformation has brought new challenges to the control of corporate financial risk.Based on the data of The Shanghai Stock Exchange(SSE)and Shenzhen Stock Exchange(SZSE)from 2009 to 2022,this paper analyzes the impact of digital transformation on corporate financial risk and the impact mechanism.The empirical study finds that digital transformation significantly increases the financial risk of enterprises,and shows differences among different regions,different risk factors,and enterprise natures,and substantially increases the corporate financial risk in the East and West,non-state-owned enterprises,high-risk and low-risk enterprises.The mechanism analysis found that digital transformation would affect the financial risk of enterprises by increasing their R&D investment and reducing their debt level.The conclusion improves insights and guidance for analyzing and managing financial risks in enterprises under digital transformation.

关 键 词：Digital Transformation Financial Risk Debt Level 

分 类 号：F42[经济管理—产业经济]