摘要
在数字经济加速发展的背景下,企业需要通过数字化转型来优化资源配置、提高供应链韧性,以降低债务融资成本。基于此,本文以2014~2023年A股上市公司数据为样本,运用实证分析检验数字化转型对债务融资成本的影响。研究结果表明,数字化转型可以显著降低企业债务融资成本,这一作用效果可通过提高供应链韧性来实现。进一步的异质性检验结果显示,国有企业与大规模企业的数字化转型水平对企业债务融资成本的降低效应更大。上述研究结果为提升企业数字化转型水平、降低企业债务融资成本、促进企业供应链韧性发展提供了理论基础和实践指导。
In the context of accelerated development of the digital economy,enterprises need to optimize resource allocation and improve supply chain resilience through digital transformation to reduce debt financing costs.Based on this,this article uses data from A-share listed companies from 2014 to 2023 as samples to empirically analyze the impact of digital transformation on debt financing costs.The research results indicate that digital transformation can significantly reduce the cost of corporate debt financing,and this effect can be achieved by improving supply chain resilience.Further heterogeneity testing results show that the level of digital transformation between state-owned enterprises and large-scale enterprises has a greater effect on reducing the cost of corporate debt financing.The above research results provide theoretical basis and practical guidance for improving the level of digital transformation of enterprises,reducing the cost of corporate debt financing,and promoting the resilience development of enterprise supply chains.
出处
《浙江金融》
2025年第5期68-80,共13页
Zhejiang Finance
基金
湖南工业大学研究生科研创新项目资助“数字化转型、绿色创新质量与企业碳信息披露——内部控制的调节效应”(项目编号LXBZZ2403)
湖南省社会科学成果评审委员会课题:同群效应下企业ESG表现对非效率投资的影响研究(项目编号XSP24YBZ088)
关键词
数字化
供应链
债务融资成本
Digitization
Supply Chain
Debt Financing Cost
