经济政策不确定性是当前企业面临的重要挑战之一,而数字化转型是为企业提供新质生产力的重要途径。本文基于2012~2022年中国A股制造业上市公司数据,采用文本分析法构建了企业层面的经济政策不确定性感知系数和数字化转型指标,探讨了企...经济政策不确定性是当前企业面临的重要挑战之一,而数字化转型是为企业提供新质生产力的重要途径。本文基于2012~2022年中国A股制造业上市公司数据,采用文本分析法构建了企业层面的经济政策不确定性感知系数和数字化转型指标,探讨了企业经济政策不确定性感知对数字化转型的影响。研究表明:企业的经济政策不确定性感知会抑制企业的数字化转型,这表明当企业感知到政策的不确定性时,出于谨慎考虑会降低其数字化转型的意愿从而规避风险。异质性分析表明,相对于国有企业,非国有企业在感知到经济政策不确定性时,其数字化转型意愿更低;东部地区企业受经济政策不确定性的影响更加明显。本文根据研究结论,从保持经济政策的连贯统一性、加大对企业数字化转型支持力度等角度提出了有价值的政策建议。Economic policy uncertainty is one of the important challenges faced by enterprises, and digital transformation is an important way to provide enterprises with new quality productivity. Based on the data of China’s A-share manufacturing listed companies from 2012 to 2022, this paper uses text analysis to construct the economic and political uncertainty perception coefficient and digital transformation index at the enterprise level, and discusses the impact of enterprise economic policy uncertainty perception on digital transformation. The results show that the perception of economic policy uncertainty will inhibit the digital transformation of enterprises, which indicates that when enterprises perceive policy uncertainty, they will reduce their willingness to digital transformation out of caution and avoid risks. Heterogeneity analysis shows that compared with state-owned enterprises, non-state-owned enterprises have a lower willingness to digitally transform when they perceive economic policy uncertainty. Enterprises in the eastern region are more affected by economic policy uncertainties. Based on the research conclusions, this paper puts forward valuable policy suggestions from the perspectives of maintaining the coherence and unity of economic policies and increasing support for enterprise digital transformation.展开更多
文摘经济政策不确定性是当前企业面临的重要挑战之一,而数字化转型是为企业提供新质生产力的重要途径。本文基于2012~2022年中国A股制造业上市公司数据,采用文本分析法构建了企业层面的经济政策不确定性感知系数和数字化转型指标,探讨了企业经济政策不确定性感知对数字化转型的影响。研究表明:企业的经济政策不确定性感知会抑制企业的数字化转型,这表明当企业感知到政策的不确定性时,出于谨慎考虑会降低其数字化转型的意愿从而规避风险。异质性分析表明,相对于国有企业,非国有企业在感知到经济政策不确定性时,其数字化转型意愿更低;东部地区企业受经济政策不确定性的影响更加明显。本文根据研究结论,从保持经济政策的连贯统一性、加大对企业数字化转型支持力度等角度提出了有价值的政策建议。Economic policy uncertainty is one of the important challenges faced by enterprises, and digital transformation is an important way to provide enterprises with new quality productivity. Based on the data of China’s A-share manufacturing listed companies from 2012 to 2022, this paper uses text analysis to construct the economic and political uncertainty perception coefficient and digital transformation index at the enterprise level, and discusses the impact of enterprise economic policy uncertainty perception on digital transformation. The results show that the perception of economic policy uncertainty will inhibit the digital transformation of enterprises, which indicates that when enterprises perceive policy uncertainty, they will reduce their willingness to digital transformation out of caution and avoid risks. Heterogeneity analysis shows that compared with state-owned enterprises, non-state-owned enterprises have a lower willingness to digitally transform when they perceive economic policy uncertainty. Enterprises in the eastern region are more affected by economic policy uncertainties. Based on the research conclusions, this paper puts forward valuable policy suggestions from the perspectives of maintaining the coherence and unity of economic policies and increasing support for enterprise digital transformation.
