公司治理对数字化转型的影响——环境不确定性的调节作用

Effect of Corporate Governance on Digital Transformation

数字化转型是上市公司高质量发展的重要战略,公司治理机制是企业治理体系的最高层次。基于2007—2020年中国A股上市公司数据,按照“公司基础制度(公司治理)-公司战略(战略激进度)-公司行为(数字化转型)”的逻辑思路,检验公司治理水平对企业数字化转型的影响。研究表明:公司治理水平显著促进企业数字化转型,战略激进度对上述关系发挥部分中介效应,环境动态性负向调节、环境丰富性正向调节上述关系。因此,管理者应建立良好的公司治理机制,促进战略变革的实施,利用丰富性高、动态性低的外部环境,来推动企业数字化转型;政府应加强对国有企业的改革力度和对民营企业的扶持力度,以完善公司治理推动企业数字化转型。

Digital transformation is an important strategy for high-quality development of listed companies,and corporate governance mechanism is the highest level of corporate governance system.Based on the data of Chinese A-share listed companies from 2007 to 2020,this paper examines the impact of corporate governance level on enterprise digital transformation according to the logical thinking of"corporate basic system(corporate governance)-corporate strategy(strategic activism)-corporate behavior(digital transformation)".The results show that the level of corporate governance significantly promotes the digital transformation of enterprises,the degree of strategic activism plays a partial intermediary effect on the above relationship,and the environmental dynamics negatively adjusts the above relationship and the environmental richness positively adjusts the above relationship.Therefore,managers should establish a good corporate governance mechanism to promote the implementation of strategic change,and use the external environment with high richness and low dynamic to promote the digital transformation of enterprises.The government should strengthen the reform of state-owned enterprises and the support for private enterprises,so as to improve corporate governance and promote the digital transformation of enterprises.