在移动互联网等新兴技术迅猛发展的背景下,企业数字化转型是否能够改善企业非效率投资问题这一话题愈发被关注,投资作为企业日常生产经营活动、企业利润增长、可持续发展能力提高等不可或缺的一环,能够反映一个企业的发展状况和未来的...在移动互联网等新兴技术迅猛发展的背景下,企业数字化转型是否能够改善企业非效率投资问题这一话题愈发被关注,投资作为企业日常生产经营活动、企业利润增长、可持续发展能力提高等不可或缺的一环,能够反映一个企业的发展状况和未来的发展趋势,也在一定程度上助力国家经济的迅猛增长。除此以外,数字化转型、委托代理问题以及投资效率这三者之间存在的关系也是本文研究的重点,即企业数字化转型是否可以缓解委托代理问题、减少委托代理成本从而提高其投资效率。由于2013年数字技术开始逐步发展,因此,本文将沪深A股2013~2023十一年间的数据作为研究样本,以数字化转型为解释变量,投资效率为被解释变量,委托代理成本为中介变量,进行回归分析研究它们之间的关系,并得出了企业数字化转型对投资效率有促进作用以及企业数字化转型能够通过缓解委托代理问题从而提高其投资效率这两个结论,这样的结论能够有效地为企业以及政府等提供合理的建议。In the context of the rapid development of emerging technologies such as mobile Internet, the topic of whether enterprises’ digital transformation can improve enterprises’ inefficient investment has attracted increasing attention. Investment, as an indispensable part of enterprises’ daily production and operation activities, profit growth and sustainable development ability improvement, can reflect the development status and future development trend of an enterprise. To a certain extent, it also contributed to the rapid growth of the national economy. In addition, the relationship between digital transformation, principal-agent problem and investment efficiency is also the focus of this paper, that is, whether the digital transformation of enterprises can alleviate the principal-agent problem, reduce the principal-agent cost and improve the investment efficiency. Due to the gradual development of digital technology in 2013, this paper takes the data of Shanghai and Shenzhen A-shares from 2013 to 2023 as the research sample, with digital transformation as the explanatory variable, investment efficiency as the explained variable, and principal-agent cost as the intermediary variable. The relationship between them is studied by regression analysis and two conclusions are drawn: enterprise digital transformation can promote investment efficiency and enterprise digital transformation can improve investment efficiency by alleviating principal-agent problems. Such conclusions can effectively provide reasonable suggestions for enterprises and governments.展开更多
文摘在移动互联网等新兴技术迅猛发展的背景下,企业数字化转型是否能够改善企业非效率投资问题这一话题愈发被关注,投资作为企业日常生产经营活动、企业利润增长、可持续发展能力提高等不可或缺的一环,能够反映一个企业的发展状况和未来的发展趋势,也在一定程度上助力国家经济的迅猛增长。除此以外,数字化转型、委托代理问题以及投资效率这三者之间存在的关系也是本文研究的重点,即企业数字化转型是否可以缓解委托代理问题、减少委托代理成本从而提高其投资效率。由于2013年数字技术开始逐步发展,因此,本文将沪深A股2013~2023十一年间的数据作为研究样本,以数字化转型为解释变量,投资效率为被解释变量,委托代理成本为中介变量,进行回归分析研究它们之间的关系,并得出了企业数字化转型对投资效率有促进作用以及企业数字化转型能够通过缓解委托代理问题从而提高其投资效率这两个结论,这样的结论能够有效地为企业以及政府等提供合理的建议。In the context of the rapid development of emerging technologies such as mobile Internet, the topic of whether enterprises’ digital transformation can improve enterprises’ inefficient investment has attracted increasing attention. Investment, as an indispensable part of enterprises’ daily production and operation activities, profit growth and sustainable development ability improvement, can reflect the development status and future development trend of an enterprise. To a certain extent, it also contributed to the rapid growth of the national economy. In addition, the relationship between digital transformation, principal-agent problem and investment efficiency is also the focus of this paper, that is, whether the digital transformation of enterprises can alleviate the principal-agent problem, reduce the principal-agent cost and improve the investment efficiency. Due to the gradual development of digital technology in 2013, this paper takes the data of Shanghai and Shenzhen A-shares from 2013 to 2023 as the research sample, with digital transformation as the explanatory variable, investment efficiency as the explained variable, and principal-agent cost as the intermediary variable. The relationship between them is studied by regression analysis and two conclusions are drawn: enterprise digital transformation can promote investment efficiency and enterprise digital transformation can improve investment efficiency by alleviating principal-agent problems. Such conclusions can effectively provide reasonable suggestions for enterprises and governments.
