数字化转型与企业多元化战略选择  

Digital Transformation and Corporate Diversification Strategy Options

作　　者：赵丽娟 刘淑涵 赵团结 ZHAO Lijuan;LIU Shuhan;ZHAO Tuanjie

机构地区：[1]中南民族大学管理学院 [2]武汉晴川学院会计学院

出　　处：《财务研究》2025年第1期113-127,共15页Finance Research

基　　金：中南民族大学中央高校基本科研业务费专项资金资助项目(CSQ22007);国家自然科学基金项目(72002208)。

摘　　要：数字化转型对企业的运营方式和战略选择具有重要影响,本文选取2010~2022年A股上市公司相关数据,实证检验了数字化转型对企业多元化战略选择的影响及其作用机制。研究发现,数字化转型有利于企业多元化战略的实施,其作用机制主要是通过提高企业投资效率、提升创新能力和提高内部控制水平,使企业更倾向于选择多元化战略。异质性检验发现,在有数字背景CEO的企业、东部地区企业以及外部环境不确定性较高的企业中,两者间的关系更加明显。拓展研究发现,数字化转型助力企业多元化战略选择,能够显著提高企业全要素生产率。本文的研究结论为数字化转型中的企业战略选择提供了实证参考和经验证据。Digital transformation has significant impacts on the operating modes and strategic choices of enterprises.This paper selects relevant data of A-share listed companies from 2010 to 2022 to empirically test the impact of digital transformation on enterprises'diversification strategic choices and its mediating mechanism.The study finds that digital transformation is conducive to the implementation of diversification strategies,and its mediating mechanism mainly lies in improving the investment efficiency,enhancing innovation capabilities,and improving internal control levels,making enterprises more inclined to choose diversification strategies.The heterogeneity test shows that the relationship between digital transformation and diversification strategic choices is more obvious in enterprises with digital background CEOs,enterprises in the eastern region,and enterprises with high uncertainty in external environment.The extension study shows that while digital transformation drives enterprises'diversification strategic choices,it also helps improve the enterprise's total factor productivity.The research conclusions provide empirical reference and practical evidence for enterprises'strategic choices in the process of digital transformation.

关 键 词：数字化转型 企业多元化战略选择 全要素生产率 

分 类 号：F275[经济管理—企业管理]