摘要
针对高管团队稳定性、债务融资成本对数字化转型的影响问题,选取2017—2021年中国A股制造业上市企业作为样本进行实证研究。研究表明:高管团队稳定性有利于企业数字化转型;高管团队稳定性有利于降低债务融资成本;债务融资成本在高管团队稳定性对数字化转型的影响过程中发挥中介作用;创新效率正向调节高管团队稳定性对数字化转型的促进作用。异质性分析发现,国有企业的高管团队稳定性对数字化转型的促进效应更强,且网络基础设施建设程度也会对二者关系造成影响。
Based on influence of TMT stability、debt financing cost on digital transformation,a sample of Chinese A-share manufacturing listed companies from 2017—2021 is selected for empirical research.The study shows that:executive team stability is significantly and positively related to digital transformation;executive team stability is significantly and negatively related to debt financing cost;debt financing cost plays a mediating role in the process of the influence of executive team stability on digital transformation;and innovation efficiency positively moderates the facilitating effect of executive team stability on digital transformation.The results of heterogeneity analysis show that the stability of the executive team of state-owned enterprises has a stronger effect on the prowenzhangbianmotion of digital transformation,and the degree of network infrastructure construction also affects the relationship between the factors.The findings provide a reference for enterprises to promote digital transformation through executive characteristics.
作者
路世昌
徐嘉瑷
赵力本
LU Shichang;XU Jiaai;ZHAO Liben(College of Business Administration,Liaoning Technical University,Huludao 125105,China)
出处
《哈尔滨商业大学学报（社会科学版）》
CSSCI
2024年第1期85-97,共13页
Journal of Harbin University of Commerce:Social Science Edition
基金
辽宁省教育厅项目“数字化赋能辽宁制造业转型升级的机理及推进策略”(21-A817)。
