当代财经 ›› 2023, Vol. 0 ›› Issue (11): 93-105.

• 企业管理 • 上一篇    下一篇

连锁股东对企业数字化转型的影响

陈泽艺1, 黄玉清2   

  1. 1.广东金融学院 会计学院,广东 广州 510521;
    2.集美大学 工商管理学院,福建 厦门 361021
  • 收稿日期:2023-02-21 修回日期:2023-08-08 出版日期:2023-11-15 发布日期:2023-11-08
  • 通讯作者: 黄玉清,集美大学副教授,管理学博士,主要从事公司治理研究,联系方式huangyuqing@126.com。
  • 作者简介:陈泽艺,广东金融学院副教授,管理学博士,主要从事资本市场财务问题研究。
  • 基金资助:
    国家自然科学基金项目“承销商跟投制度的治理效应研究:基于科创板的经验证据”(72062016); 国家自然科学基金项目“注册制下IPO现场检查抽中撤单对承销商声誉的惩戒效应”(72302107); 广东省哲学社会科学规划项目“大股东股权质押风险对企业数字化转型的影响与防范对策研究”(GD23XGL039); 广东省教育厅科研项目“控股股东股权质押对粤港澳大湾区制造业数字化转型的影响路径与治理机制研究”(2022WTSCX077)

The Impact of Chain Shareholders on Corporate Digital Transformation

CHEN Ze-yi1, HUANG Yu-qing2   

  1. 1. Guangdong University of Finance, Guangzhou 510521;
    2. Jimei University, Xiamen 361021, China
  • Received:2023-02-21 Revised:2023-08-08 Online:2023-11-15 Published:2023-11-08

摘要: 在加快推进企业数字化转型的背景下,探索数字化转型的影响因素对企业资源配置优化与高质量发展至关重要。广泛存在的连锁股东网络深刻地影响着企业的重大经营决策,连锁股东能否赋能企业数字化转型值得关注。以2013—2020年A股上市公司为样本,检验连锁股东对企业数字化转型影响的研究发现,连锁股东在企业数字化转型过程中发挥了协同效应,助力数字化转型的加速。机制检验结果表明,连锁股东在参与企业经营决策、筹集资金、优化人力资本结构和提升技术创新能力等方面发挥了协同效应,提升了数字化转型能力,进而推动了企业的加速转型。进一步地,连锁股东对国有企业和高科技企业数字化转型的推动作用更强。此外,数字化转型有助于推动企业成长,提升了企业绩效。基于上述结论,建议合理地引入连锁股东、充分挖掘股东网络的资源和信息优势以促进企业数字化转型和经济高质量发展。

关键词: 连锁股东, 数字化转型, 股东网络, 治理协同

Abstract: In the context of accelerating the digital transformation of enterprises, exploring the influencing factors of digital transformation is crucial for optimizing the enterprise resource allocation and the high-quality development. The widespread network of chain shareholders has a profound impact on the major business decisions of enterprises, and it is worth paying attention to whether chain shareholders can empower the digital transformation of enterprises. Taking A-share listed companies from 2013 to 2020 as samples, this paper examines the impact of chain shareholders on digital transformation of enterprises. The findings show that the chain shareholders are playing a synergistic effect in the process of digital transformation, helping to accelerate digital transformation. The mechanism test results indicate that chain shareholders have played a synergistic effect in participating in business decision-making, raising funds, optimizing human capital structure, and enhancing technological innovation capabilities, which has enhanced digital transformation capabilities, and thus promoting the accelerated transformation of the enterprise. Furthermore, chain shareholders have a stronger role in promoting the digital transformation of state-owned and high-tech enterprises. In addition, digital transformation helps drive business growth and improve business performance. Based on the above conclusions, it is recommended to reasonably introduce chain shareholders and fully tap into the resources and information advantages of shareholder networks, so as to promote the digital transformation of enterprises and the high-quality economic development.

Key words: chain shareholders, digital transformation, shareholder network, coordination in governance

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