数字经济对轻工业企业金融化的影响研究  

Research on the Impact of Digital Economy on the Financialization of Light Industry Enterprises

作　　者：胡晓强 李潇 HU Xiaoqiang;LI Xiao(School of Economics and Management,Shaanxi University of Science&Technology,Xi'an 710021,China)

机构地区：[1]陕西科技大学经济与管理学院,陕西西安710021

出　　处：《商业观察》2025年第11期107-110,115,共5页BUSINESS OBSERVATION

基　　金：陕西省教育厅重点科学研究计划项目(23JZ029)。

摘　　要：以2012—2022年A股轻工业上市公司为研究对象,通过双向固定效应分析数字经济对轻工企业金融化的影响。实证结果显示:数字经济对轻工企业金融化存在促进作用,在经过一系列的稳健性检验后结果依然显著。异质性结果显示,数字经济对轻工企业金融化的促进作用在东部地区显著,在中西部地区不显著,规模较小型企业显著,规模较大型企业不显著。调节效应结果显示,地区同群效应能够进一步加剧数字经济对其金融化的影响。Taking A-share light industry listed companies from 2012 to 2022 as the research objects,this study analyzes the impact of the digital economy on the financialization of light industry enterprises through bidirectional fixed effects.The empirical results show that the digital economy has a promoting effect on the financialization of light industry enterprises,and the results are still significant after a series of robustness tests.Heterogeneity results show that the promotion effect of the digital economy on the financialization of light industry enterprises is significant in the eastern region,not significant in the central and western regions,significant for small-scale enterprises,and not significant for large-scale enterprises.The results of the moderation effect show that the regional peer effect can further intensify the impact of the digital economy on the financialization.

关 键 词：数字经济 轻工企业金融化 异质性 同群效应 

分 类 号：F426[经济管理—产业经济]