Research On The Effect Of Digital Transformation On Enterprise Performance

Digital transformation is a kind of change behavior that realizes resource optimization allocation and business innovation through digitalization,networking and intelligentization.In the report of the 20 th National Congress of the Communist Party of China,it is proposed to speed up the innovation and development of digital economy,vigorously promote the combination of digital economy and real economy,adhere to the development of real economy as the focus of economic development,accelerate the pace of industrialization transformation,and strive to build a cyber power and digital China.Under the support of relevant policies,the attention degree of digital construction in China is increasing day by day,and the development is changing with each new day.Information and digital construction provide strong support for China to speed up the construction of network power and digital China.At the same time,the vast majority of enterprises begin to put the focus of strategic deployment on digital transformation and change,digital transformation has become the new direction of enterprise transformation and development.In recent years,the digital transformation of Chinese enterprises has produced remarkable results.On the one hand,digital technology improves enterprise operation efficiency through multiple channels;on the other hand,digital transformation of enterprises may also cause problems such as "information technology productivity paradox".Therefore,digital transformation is a reform measure with great cost and risk for enterprises,and whether it can effectively improve enterprise performance has become a hot topic of social concern.In this context,this paper adopts the relevant data of Chinese A-share listed enterprises in Shanghai and Shenzhen from 2012 to 2021.Based on the resource-based view theory,stakeholder theory and high ladder team theory,this paper uses the fixed-effect model to empirically study the impact of digital transformation on enterprise performance.At the same time,it explores the role of enterprise ESG performance and executive background characteristics in this process.The empirical results show that:(1)Digital transformation can significantly promote enterprise performance.Further research shows that this driving effect is more obvious in state-owned enterprises and digital enterprises.(2)Enterprise ESG performance plays a partial mediating role in the impact of digital transformation on enterprise performance.(3)The average age of the top management team negatively regulates the impact of digital transformation on corporate performance;The education level and overseas background of the top management team positively moderates the impact of digital transformation on enterprise performance.The research conclusions of this paper enrich the discussion on the influence factors of the digital transformation of listed A-share enterprises on corporate performance,and have certain significance for the strategic deployment of enterprise organizations and the development of digital transformation.