金融科技对企业数字化转型的影响研究——基于企业能力、外部监督的调节效应

A Study of FinTech's Role in Digital Transformation of Enterprises:Focusing on the Moderating Effects of Intrinsic Capabilitiesand Extrinsic Supervisory Mechanisms

本文以2011~2021年沪深A股上市公司为研究样本,借助Python爬虫技术和文本挖掘技术定量测度企业数字化转型程度和金融科技发展水平,从企业能力、外部监督视角出发,旨在阐明金融科技对企业数字化转型升级的影响,破解企业数字化安全转型升级之谜。结果显示,金融科技能显著驱动企业数字化转型,且对非国有企业、非高科技企业、低市场化地区企业以及中西部地区数字化转型的促进作用更大,更多发挥着“雪中送炭”的作用。调节检验表明企业内部控制水平和风险承担水平的提升、媒体监督的加持、国家监管的效能都可强化金融科技对企业数字化转型的正向影响。本研究不仅为金融科技推动企业数字化安全转型提供微观证据,也对国家进一步制定相适配的政策措施,推动金融科技和企业高质量发展提供有益借鉴。

This paper conducts an empirical analysis of A-share listed companies in Shanghai and Shenzhen from 2011 to 2021,leveraging Python web crawler and text mining techniques to quantitatively assess their progress in digital transformation and fintech maturity.It aims to elaborate on how fintech impacts the advancement of enterprise digital transformation,considering both the inherent corporate capabilities and extrinsic supervisory frameworks.The findings reveal that fintech significantly catalyzes the digital transformation process,particularly in non-state-owned,non-high-tech,and less marketized regional enterprises,as well as those in the central and western regions,playing a pivotal role in critical situations.The moderation tests indicate that enhancements in internal control standards,risk tolerance,media oversight,and the effectiveness of national regulatory policies can intensify fintech's positive influence on digital transformation.This study provides empirical evidence at the micro-level,supporting the role of fintech in facilitating secure digital transformation in enterprises.Additionally,it offers insights for national policy formulation aligned with the qualitative advancement of both fintech and corporate sectors.