Digital transformation and financial stability: Does corporate competitiveness make a difference?
Chengsi Zheng, Shuyan Pan, Jiuqiang Chen, Chunzi Zhu
Klíčová slova
digital transformation, financial stability, corporate competitiveness
Abstrakt:
The global economic downturn, intensifying geopolitical tensions, and labor restructuring, coupled with the rapid advancement of digital technologies, have accelerated the digital transformation of enterprises, potentially impacting financial stability. Moreover, the enterprise digital transformation is evolving from a technical concept to an overall strategy, and enterprise competitiveness may play a key role in the success of the transformation. This study uses Chinese listed enterprises as its research sample, categorizing them based on their competitiveness performance. Empirical evidence has demonstrated that the digital transformation of highly competitive groups positively impacts financial stability. This effect is primarily seen in the improvement of financial asset quality and the stabilization of the financial system, achieved by increasing the number of all employees, raising the average salary of ordinary employees, and decreasing commercial credit extended to downstream customers. On the contrary, the digital transformation of the group with lower competitiveness cannot directly foster financial stability. However, it can still indirectly contribute to financial stability by increasing the number of highly educated employees and enhancing the average salary of all employees. Furthermore, the heterogeneity test of regional digital economy development and enterprise ownership attributes yields varying outcomes. This study offers a novel perspective for research into the cross-sector impact of enterprise digital transformation and provides empirical evidence to support more effective strategies for driving the development of the digital economy.
Celý článek ke stažení:
 Digital transformation and financial stability: Does corporate competitiveness make a difference? [PDF soubor] [Velikost souboru: 1.49 MB]
 10.7441/joc.2025.03.01
Pan, S., Zheng, C., Chen, J., & Zhu, C. (2025). Digital transformation and financial stability: Does corporate competitiveness make a difference? Journal of Competitiveness, 17(3), 1-33. https://doi.org/10.7441/joc.2025.03.01
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