财经理论与实践2024，Vol.45Issue(1)：83-90,8.DOI:10.16339/j.cnki.hdxbcjb.2024.01.011
数字化转型能否降低企业资本成本
Can Digital Transformation Reduce the Cost of Capital for Corporationsof Capital for Corporations
摘要
Abstract
Based on the data of listed companies in China from 2007 to 2020,the impact of digital transformation on the cost of capital of enterprises is examined.The results show that dig-ital transformation can effectively reduce the cost of corporate capital.Mechanism test results show that digital transformation reduces the cost of corporate capital through the paths of allevia-ting information asymmetry,strengthening corporate innovation dynamics,and improving the quality of internal control.Further research finds that the effect of digital transformation in re-ducing enterprise cost of capital is more significant in high-tech enterprises and when enterprises face higher environmental uncertainty.The above findings provide empirical evidence on how companies can advance their digital transformation strategies from the perspective of reducing cor-porate capital costs.关键词
数字化转型/资本成本/信息不对称/创新动能/内部控制Key words
digital transformation/cost of capital/information asymmetry/innovation dy-namics/internal control分类
管理科学引用本文复制引用
邱妍,王治,江媛..数字化转型能否降低企业资本成本[J].财经理论与实践,2024,45(1):83-90,8.基金项目
湖南省社会科学成果评审委员会重大课题(XSP2023ZDA003) （XSP2023ZDA003）
湖南省教育厅科学研究重点项目(20A006) （20A006）
湖南省社会科学成果评审委员会课题(XSP22YBZ042) （XSP22YBZ042）
湖南省智能财会研究中心研究生专项项目(21ckzx04) （21ckzx04）
湖南省研究生科研创新项目(CX20220931) （CX20220931）
