Corporate maturity mismatch and enterprise digital transformation: Evidence from China

被引:60
|
作者
Hu, Yan [1 ]
Che, Dexin [2 ]
Wu, Fei [2 ]
Chang, Xi [2 ]
机构
[1] Guangdong Univ Finance, Sch Finance & Investment, Guangzhou 510521, Peoples R China
[2] Guangdong Univ Finance, Sch Natl Finance, Guangzhou 510521, Peoples R China
基金
中国国家自然科学基金;
关键词
Corporate maturity mismatch; Enterprise digital transformation; Financial distress; Corporate financialization; Big data; Natural language processing; DEBT MATURITY; CAPITAL STRUCTURE; ROLLOVER RISK; INVESTMENT; FIRM;
D O I
10.1016/j.frl.2023.103677
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This paper sheds light on the impact of corporate maturity mismatch on enterprise digital transformation for the first time. We conduct in-depth text analysis on a huge number of annual reports and construct the earliest digital transformation index in China. The results show that the greater the corporate maturity mismatch is, the worse the enterprise digital transformation is, and this effect is more pronounced in non-SOEs, manufacturing industries and growing or mature firms. Furthermore, corporate maturity mismatch hinders enterprise digital transformation by exacerbating financial distress and distorting investment behavior, and the financial regulation plays a role in mitigating this negative effect. The findings provide insights into how to promote the development of the digital economy in China.
引用
收藏
页数:7
相关论文
共 50 条
  • [21] Corporate digital transformation and tax avoidance: evidence from China
    Chen, Meian
    Zhao, Ke
    Jin, Wei
    PACIFIC-BASIN FINANCE JOURNAL, 2024, 85
  • [22] Digital economy, enterprise digital transformation, and digital business model: evidence from China
    Hou, Mingjun
    ASIA PACIFIC BUSINESS REVIEW, 2023, 29 (04) : 1200 - 1210
  • [23] How does corporate digital transformation affect green innovation? Evidence from China's enterprise data
    Zhang, Jian
    Yu, Chin-Hsien
    Zhao, Jinsong
    Lee, Chi-Chuan
    ENERGY ECONOMICS, 2025, 142
  • [24] Enterprise digital transformation and labor structure evolution: evidence from China
    Lv, Kangjuan
    Zhao, Ye
    Zhu, Siwei
    Zhu, Lei
    CHINESE MANAGEMENT STUDIES, 2024,
  • [25] Chairman's IT background and enterprise digital transformation: Evidence from China
    Cai, Yongbin
    Luo, Na
    Xie, Xuejing
    Gong, Yukai
    PACIFIC-BASIN FINANCE JOURNAL, 2024, 83
  • [26] Bank Digital Transformation and Enterprise Innovation-Evidence from China
    Zhou, Hui
    Xu, Lin
    Kyriakopoulos, Grigorios L.
    SUSTAINABILITY, 2023, 15 (22)
  • [27] The impact of digital transformation on enterprise export resilience: Evidence from China
    Li, Hongliang
    Zhang, Zeren
    Miao, Haoran
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2024, 95
  • [28] Impact of enterprise digital transformation on capacity utilization: Evidence from China
    Zhao, Ning
    Ren, Jianxin
    PLOS ONE, 2023, 18 (03):
  • [29] The Impact of Enterprise Digital Transformation on ESG Performance: Evidence from China
    Zhang, Hong
    Liu, Jiehua
    Jiang, He
    MANAGERIAL AND DECISION ECONOMICS, 2025,
  • [30] The impact of maturity mismatch between investment and financing on corporate financial risk: evidence from China
    Yan, Hongguo
    Ling, Yang
    APPLIED ECONOMICS, 2025,