智力资本、数字化转型与企业财务绩效  

Intellectual Capital,Digital Transformation and Corporate Financial Performance

作　　者：彭姝羽[1] Peng Shuyu(Oxbridge College,Kunming University of Science and Technology,Kunming,Yunnan 650106)

机构地区：[1]昆明理工大学津桥学院,云南昆明650106

出　　处：《中国商论》2025年第7期158-164,共7页China Journal of Commerce

基　　金：云南省教育厅科学研究基金项目“数字化转型视域下智力资本对企业绩效的影响机制及优化路径”(2024J1179);昆明理工大学津桥学院2023年度校级一流本科课程《基础会计学》。

摘　　要：本文以中国沪深A股上市企业2013—2023年有关数据作为分析样本,实证研究了智力资本、数字化转型对企业财务绩效的影响。结果显示:智力资本整体对企业财务绩效具有显著促进作用,财务资本、人力资本、结构资本和关系资本可以显著提升企业财务绩效,其中财务资本在所有影响系数中作用最大,关系资本在所有影响系数中作用最小;企业数字化转型在智力资本、人力资本、结构资本和关系资本对企业财务绩效影响中起到正向调节作用,但可能会阻碍财务资本增值对企业财务绩效的提升作用;在异质性检验中,非国有企业、高新技术企业、小规模企业的智力资本对企业财务绩效的正向影响更为显著。This paper takes data from A-share listed companies in Shanghai and Shenzhen from 2013 to 2023 as the research sample,and empirically investigates the impact of intellectual capital and digital transformation on corporate financial performance.The results show that intellectual capital as a whole has a significant positive impact on corporate financial performance.Financial capital,human capital,structural capital,and relational capital can all significantly improve financial performance,with financial capital having the greatest impact and relational capital the least.Digital transformation plays a positive moderating role in the effects of intellectual capital,human capital,structural capital,and relational capital on financial performance,but may hinder the value-added contribution of financial capital to financial performance.Heterogeneity tests reveal that the positive impact of intellectual capital on financial performance is more pronounced in non-state-owned enterprises,high-tech enterprises,and small-scale enterprises.

关 键 词：智力资本 财务资本 数字化转型 企业财务绩效 共享协同 

分 类 号：F275[经济管理—企业管理]