关键词:

企业数字化转型, 金融资产, 动态调整, 偏离程度

Abstract:

Based on the data of A-share listed enterprises from 2007 to 2021，this paper explores the digital transformation of enterprises and the dynamic adjustment of financial assets with different term structures. The results show that enterprises have target financial assets and will adjust to the target financial assets dynamically; the digital transformation of enterprises has an inverted U-shaped relationship with the adjustment speed of short-term financial assets, while the digital transformation of enterprises has a U-shaped relationship with the adjustment speed of long-term financial assets. The analysis of economic consequences shows a negative correlation between the deviation of short-term financial assets and corporate financial risk and a negative correlation between the deviation of long-term financial assets and the corporate core performance. From a dynamic perspective, this paper expands the research boundary of corporate financial assets with different term structures and the economic consequences of corporate digital transformation, which provides empirical evidence for government departments to actively guide the digital transformation of enterprises.

Key words:

enterprise digital transformation, financial asset, dynamic adjustment, deviation degree