数字化转型与企业集团权力配置:变革的力量

Digital Transformation and Power Allocation of Corporate Groups:The Power of Change

推动企业数字化转型是实现数字经济发展的重要方式,其通过重构治理逻辑深刻地影响企业集团的行为和决策偏好。文章以2010—2020年A股上市公司为研究对象,从管理权集散的视角考察数字化转型与企业集团权力配置的关系。研究发现,数字化转型会促进企业集团管理分权,当企业业绩承压、行业竞争加剧以及管理层心态积极时,此种分权行为尤为显著;机制检验表明,企业数字化转型从及时响应市场需求、促进人力资本结构升级和降低代理成本三方面对集团的管理分权决策产生影响;进一步研究显示,数字化转型下的分权管理有助于提高企业经营的稳健性。文章拓展了企业集团权力配置在会计实证中的应用,为数字化转型下的企业集团优化权力配置提供了参考。

Power allocation optimization plays an important role in driving the efficiency of group organization operations,and whether digital transformation has an impact on the power allocation of corporate groups is a new issue worth attention.Theoretically,digital transformation may affect the power allocation of corporate groups in the fllowing ways:First,digital transformation spawns new business models that require firms to respond more quickly to changes in market demand.Second,digital transformation enhances the professionalism of employment and promotes the upgrading of human capital structure.Third,digital transformation improves information transparency and reduces agency costs between parent and subsidiary companies.Taking China's A-share listed companies from 2010 to 2020 as the sample,this paper investigates whether and how digital transformation affects the power allocation of corporate groups.The results show that digital transformation facilitates the management decentralization within corporate groups,and this decentralization behavior is more pronounced for firms with greater performance pressure,fiercer industry competition,and more optimistic executives.Mechanism testing shows that digital transformation affects the management decentralization within corporate groups in three ways:timely response to market demand,promotion of human capital structure upgrading,and reduction of agency costs.Moreover,decentralized management under digital transformation helps to improve business operation stability.The possible contributions of this paper are that:(1)It constructs indicators for management decentralization and conducts empirical research,extending the application of power allocation in corporate groups in accounting empirical research.2)It incorporates digital transformation into the research framework of the power allocation of corporate groups,enriching the research on corporate governance in the era of the digital economy.(3)It provides new ideas for further discussions on the related issues of"power allocation optimization of corporate groups".