混合所有制改革对国有企业数字化转型的影响研究

Research on the impact of mixed ownership reform on digital transformation of state-owned enterprises

混合所有制改革是国有企业完善内部治理结构、提高市场化程度的重要举措。数字经济蓬勃发展背景下,国有企业能否通过混合所有制改革赋能数字化转型,值得探索。本文选取2008—2021年国有上市公司为研究样本,借助固定效应模型实证检验混合所有制改革对国有企业数字化转型的影响及作用机制。研究结果表明:(1)混合所有制改革能显著促进国有企业数字化转型;(2)混合所有制改革对国有企业数字化转型的促进作用主要通过抑制管理者短视和提高战略激进度两条路径实现;(3)在中央企业、国有股东相对控股和所属行业竞争程度较高的国有企业中,混合所有制改革对国有企业数字化转型的促进作用更加显著。本文丰富了国有企业混合所有制改革经济后果的相关研究,揭示了混合所有制改革促进国有企业数字化转型的内在作用机制,为进一步推动国有企业数字化转型,促进数字经济高质量发展提供经验证据。

The reform of mixed ownership is an important measure for state-owned enterprises to improve their internal governance structure and improve the degree of marketization.In the context of vigorous development of digital economy,it is worth exploring whether state-owned enterprises can empower digital transformation through mixed ownership reform.This paper selected the state-owned listed companies from 2008 to 2021 as the research sample,and empirically examined the impact and mechanism of mixed ownership reform on the digital transformation of state-owned enterprises with the help of a fixed-effect model.The results showed that:(1)mixed ownership reform can significantly promote the digital transformation of state-owned enterprises;(2)the promotion effect of mixed ownership reform on the digital transformation of state-owned enterprises is mainly achieved by inhibiting the managerial myopia and increasing the degree of strategic aggressiveness;(3)among Chinese central state-owned enterprises,companies where there is the relatively controlling position of state-owned shareholders and state-owned enterprises with high degree of competition in the relative industry,the promotion effect of mixed ownership reform on the digital transformation of state-owned enterprises is more significant.This paper will enrich the research on the economic consequences of the mixed-ownership reform of state-owned enterprises,reveal the internal mechanism of mixed-ownership reform to promote the digital transformation of state-owned enterprises,and provide empirical evidence for further promoting the digital transformation of state-owned enterprises and promoting the high-quality development of the digital economy.