Research On The Impact Of Digital Transformation On The Corporation Value

Over the years,the digital economy has increased in scale,which is an engine driving high-quality growth of our economy.Advanced digital technology has developed rapidly,which has had an immeasurable impact on society.To maximize corporation value,increasing companies are transforming digitally.First,this thesis introduces the backdrop and meaning,and combs the document of digital transformation,corporation value and the relationship between them.Second,it elaborates the mechanism of digital transformation affecting corporation value from the theoretical level.Then it analyzes the influence of digital transformation on corporation value and channel and the heterogeneity difference.Then,taking Midea Group as the object,it elaborates the situation and digital transformation path.It compares the difference of corporation value of Midea Group before and after digital transformation,and analyzes the influence mechanism and the heterogeneity difference.Finally,based on the present situation,some targeted suggestions are put forward.The conclusions are as follows:(1)Digital transformation increases corporation value.(2)Digital transformation increases corporation value by innovating input-output mechanism and cost reduction mechanism.(3)In the eastern region,digital transformation increases corporation value,but in the central and western regions,digital transformation doesn’t increase corporation value;the digital transformation of large companies has a superior influence on the improvement of corporation value,while middle and small scale companies are relatively small.(4)The path includes digitalization of management,product,operation and total value chain.(5)After the digital transformation,the corporation value of Midea Group is higher than that before the transformation,and maintains an overall growth trend during the transformation.(6)The digital transformation of Midea Group has reduced various costs and increases corporation value;Through the implementation of digital transformation,Midea Group has increased the intensity of investment in research and development,and also carried out business innovation,organizational structure innovation and business model innovation,which increases corporation value.(7)The digital transformation of Midea Group increase corporation value.The digital transformation of Liugong Machinery and Hualian Holdings had no significant effect on the increase of corporation value.Therefore,the government should increase policy support for transformation,strengthen guidance for transformation and increase financial support to set up favorable external environment.Enterprises should improve the ability of independent innovation,lay emphasis on the training of talents,improve the construction of digital infrastructure,but also reduce various costs,rationalize the allocation of resources,controllable production process,improve the level of data processing and mining.