数字化转型对企业海外投资效率的影响研究  

Research on the impact of digital transformation on the efficiency of overseas investment by enterprises

作　　者：蔡冬青 唐咏仪 CAI Dongqing;TANG Yongyi(School of Economics,Nanjing University of Posts and Telecommunications,Nanjing 210023,China)

机构地区：[1]南京邮电大学经济学院,江苏南京210023

出　　处：《南京邮电大学学报(社会科学版)》2025年第2期85-96,共12页Journal of Nanjing University of Posts and Telecommunications(Social Science Edition)

基　　金：国家社会科学基金项目(19BGJ020)。

摘　　要：从微观角度出发,构建企业数字化转型与海外投资效率的理论分析框架和企业数字化转型评价指标体系,实证分析企业数字化转型与海外投资效率的关系,从海外投资质量的角度评估数字化转型的经济效应,并进一步从融资约束和技术进步视角进行拓展性研究。研究表明:企业数字化转型能够有效抑制海外过度投资,对海外投资效率产生正向影响,技术进步在这个关系中存在正向调节效应;企业通过数字化转型可以缓解融资约束,进一步提升海外投资效率,特别是国有企业、东部沿海地区企业及技术密集型企业。From a micro perspective,construct a theoretical analysis framework for enterprise digital transformation and overseas investment efficiency and an evaluation index system for enterprise digital transformation,empirically analyze the relationship between enterprise digital transformation and overseas investment efficiency,evaluate the economic effects of digital transformation from the perspective of overseas investment quality,and further expand research from the perspectives of financing constraints and technological progress.Research has shown that digital transformation of enterprises will effectively curb excessive overseas investment and have a positive impact on the efficiency of overseas investment.Technological progress has a positive moderating effect in this relationship;Enterprises can alleviate financing constraints and further improve overseas investment efficiency through digital transformation,especially state-owned enterprises,enterprises in eastern coastal areas,and technology intensive enterprises.

关 键 词：海外投资 数字化转型 融资约束 技术进步 过度投资 投资不足 

分 类 号：F275[经济管理—企业管理]