Peer Effects in Corporate Digital Transformation within Supply Chain Networks

Digital transformation has become an inevitable choice for enterprises to survive and compete. This article aims to investigate mechanisms and impacts of peer effects in digital transformation within supply chain networks. Using a sample of listed companies in China from 2011 to 2020, the findings suggest the existence of peer effects in the digital transformation of enterprises within supply chain networks. These effects become more significant as the perception of uncertainty and environmental uncertainty increase. Further analysis reveals that the greater the disparity in discourse power and the degree of digital transformation among peer enterprises within the supply chain, the stronger the peer effects. The study also examines various scenarios in which enterprises operate, finding that greater supply chain stability significantly enhances the peer effects of digital transformation. Heterogeneity tests indicate that peer effects in digital transformation are more evident when peer enterprises within the supply chain are located in different regions, operate in different industries, are non-state-owned, have directorial connections and common institutional ownership, and possess fluctuating executive teams. Additionally, the study discusses the spillover effects of digitalization among peer enterprises on the focal company. This research provides a micro-level exploration of the peer effects of digital transformation from a supply chain perspective, offering theoretical references and practical insights for enterprises seeking to achieve digital transformation.