企业数字化转型的驱动机制——女性高管的视角

Driving Mechanism of Enterprise Digital Transformation——A Perspective of Female Executives

数字化是新一轮技术革命下企业转型的重要方向与突破口,也是“十四五”时期深化数字中国建设的重要抓手。本文采用中国沪深A股上市公司数字化转型的文本数据,从女性高管视角考察“她力量”对企业数字化转型的作用机理。研究结果表明:第一,企业数字化转型存在“她力量”,即女性高管是企业数字化转型的重要驱动因素,该研究结论在考虑内生性问题后基本成立。第二,企业融资约束与企业社会责任是女性高管驱动企业数字化转型的重要机制。第三,考虑外部资源效应与内部能力效应,政府补贴在女性高管与企业数字化转型之间产生正向调节效应,而高管学术经历在女性高管与企业数字化转型之间产生负向调节效应,说明外部资源与内部知识能力分别具备“她力量”驱动下的互补性价值与替代性价值。第四,随着女性高管比例的不断提升,女性高管驱动企业数字化转型逐步放缓,呈现出非线性效应,说明女性高管驱动企业数字化转型存在最优性别结构;女性高管驱动企业数字化转型在国有产权、无政治关联企业以及制造业企业中更为明显。

As digital enterprises serve as the micro-organizational foundation of the digital economy,digital transformation becomes the key for enterprises to gain a competitive advantage in the evolution of the digital economy.However,there are still obstacles hindering enterprise digital transformation.Therefore,from both theoretical and practical perspectives,it is crucial to promote strategic-oriented digital transformation among enterprises.This paper examines the strategic rationale behind enterprise digital transformation from the perspective of female executives in strategic decision-making.It further investigates the transmission mechanism and boundary conditions of female executives’impact on digital transformation based on samples of A-share listed companies in Shanghai and Shenzhen stock exchanges.The findings are as follows.Firstly,female executives play a crucial role in driving enterprise digital transformation;however,there is an optimal gender structure issue regarding the promotion effect of female executives on digital transformation.Secondly,financing constraints and corporate social responsibility serve as important mechanisms through which female executives promote enterprise digital transformation.Thirdly,considering the external resource and internal capability effects,government subsidies and academic executives exert synergistic and alternative regulatory effects respectively on the relationship between female executives and enterprise digital transformation.Lastly,digital transformation led by female executives enhances enterprises’financial competitiveness,and their role in driving digital transformation is indispensable in state-owned enterprises and manufacturing industries.This paper provides valuable insights for enterprises to develop digital transformation strategies and for governments to design effective policies.For enterprises,the top management team should fully recognize the impact of digital transformation on business value and take digital transformation as a strategic choice within the competitive market.Additionally,the diversity of age and gender among executives should be prioritized during the appointment.As for the government,it is essential to optimize top-level system designs for industrial and innovation policies specific to different types of enterprises and create a collaborative ecosystem conducive to enterprise digital transformation.The contribution of this paper is threefold.Firstly,it expands the research on the antecedents of strategic decision-making in the digital transformation of enterprises,providing empirical evidence of women’s digital competence from a gender perspective.Secondly,it enriches the strategic decision-making value of female executives in strategic decision-making contexts.Thirdly,it offers insights for enterprises to rationalize the gender structure of executive teams in digital transformation.