存在数字化转型陷阱吗——基于中国上市企业数据的证据  

Is There a Digital Transformation Trap:Evidence Based on Data from Chinese Listed Companies

作　　者：张秀武 韦江英 ZHANG Xiuwu;WEI Jiangying(Institute of Quantitative Economics and Statistics,Huaqiao University,Xiamen,361021)

机构地区：[1]华侨大学数量经济与统计研究院

出　　处：《中国经济问题》2024年第6期158-174,共17页China Economic Studies

基　　金：国家自然科学基金青年项目(72103067);福建省自然科学基金项目(2021J01324)。

摘　　要：基于要素匹配理论,从理论和实证上探究数字化转型对企业绩效的影响。结果表明,适度的数字化转型能有效提高企业绩效,但过度的数字化转型会因人机不匹配而造成企业利润损失。人力资本的提升有助于增强企业的人机匹配度,尤其是教育结构高级化带来的非认知能力增强,显著促进了数字化转型对企业绩效的正面影响。在低人力资本地区、高技术创新地区及数字化转型先行企业中,数字化转型对企业绩效的倒U型影响更加显著。拓展分析显示,数字经济政策的有效供给提升了企业的人机匹配度,但随着数字化战略执行力的不足,数字化转型对企业绩效的促进作用有所减弱。Based on the factor-matching theory,this study investigates the impact of digital transformation on corporate performance both theoretically and empirically.The results indicate a non-linear,"inverted U-shaped"influence of digital transformation on corporate performance.Moderate digital transformation can enhance corporate performance;while excessive digitalization leads to a decline in profits due to mismatches between humans and machines.An enhancement in human capital increases the degree of human-machine alignment,and the improvement in non-cognitive abilities resulting from a more advanced educational structure significantly bolsters the positive effect of digital transformation on corporate performance.The inverted U-shaped impact of digital transformation on corporate performance is more pronounced in areas with lower human capital,regions with higher technical skills,and among enterprises that are pioneers in digital transformation.Further analysis reveals that the appropriateness of digital economy policies enhances human-machine matching in enterprises.Nonetheless,as the disparity between digital transformation policies and their implementation increases,the facilitative effect of digital transformation on corporate performance comparatively weakens.

关 键 词：数字化转型 企业绩效 倒U型 人机匹配 

分 类 号：F27[经济管理—企业管理]