企业数字化转型与企业价值

Digital Transformation and Enterprise Value

在数字经济盛行的时代,数字化转型成为促进企业高质量发展的重要驱动力量。本文基于2008-2020年中国全部A股上市企业的财务数据,结合文本分析法实证研究企业数字化转型对企业价值的影响及其作用机制。结果显示,企业数字化转型能够显著提高企业价值,并且企业数字化转型能够从信息优化、财务稳定和内部治理三个方面驱动企业价值的显著提升。在数字经济时代下,应完善数字基础设施,加大对企业数字化转型的支持力度,促进企业实现高质量发展。

In the era of digital economy,digital transformation has become an important driving force to promote high-quality development of enterprises.Based on the financial data of all A-share listed companies in China from 2008 to 2020,this paper empirically studies the impact of enterprise digital transformation on enterprise value and its mechanism with text analysis method.The results show that enterprise digital transformation can significantly improve enterprise value,and enterprise digital transformation can drive the significant improvement of enterprise value from the three aspects of information optimization,financial stability and internal governance.This paper provides relevant empirical evidence for understanding the channels of enterprises’digital transformation in the digital economy era,and also provides new ideas for promoting high-quality development of enterprises.