企业数字化转型对财务绩效的影响——基于供应商集中度的中介作用

The Impact of Enterprise Digital Transformation on Financial Performance—The Mediating Role Based on Supplier Concentration

摘要: 随着现下数字技术的发展，进行数字化转型成为了企业适应市场竞争，实现高质量发展的重要选择。探究企业数字化转型通过何种方式对财务绩效产生影响能够帮助企业更加有效地进行数字化转型升级。因此，本文基于数字化转型战略理论研究企业数字化转型对企业财务绩效的影响。此外，基于交易成本理论、竞争战略理论引入供应商集中度作为研究的中介变量，探究其作用机制。并进一步对企业规模和所有权性质做了异质性分析。经实证分析得出以下结论：企业数字化转型能够对财务绩效产生积极影响；数字化转型能够通过降低供应商集中度来进一步促进企业财务绩效且供应商集中度在其中发挥部分中介作用；不同行业、不同规模的企业进行数字化转型对财务绩效产生的影响存在明显差异。因此，企业在实施数字化转型时，需要充分考虑自身的行业特点和企业规模，制定适合自身实际情况的数字化转型策略，以期对财务绩效产生积极影响。综上所述，本研究可以帮助企业更好地理解和应对数字化转型中的挑战和机遇，推动企业实现可持续发展。最后，研究结果也对政府和监管部门制定相关政策具有一定的借鉴意义。

Abstract: With the rapid development of digital technology, digital transformation has become an irreplaceable choice for enterprises to base on market competition and realize high-quality development. Therefore, it is of great significance to explore the impact mechanism of digital transformation on enterprise financial performance to effectively promote enterprise digital transformation. Based on digital transformation strategy theory and competitive strategy theory, this paper studies the impact of enterprise digital transformation on enterprise financial performance. In addition, based on supply chain management theory and transaction cost theory, supplier concentration is introduced as a mediating variable in the study to explore its role mechanism. And further heterogeneity analysis was done on enterprise size and ownership nature. The empirical analysis leads to the following conclusions: enterprise digital transformation can have a positive impact on financial performance; digital transformation can further promote enterprise financial performance by reducing supplier concentration, and supplier concentration plays a partly mediating role in it; there are differences in the performance of enterprises in different industries and different sizes in the process of digital transformation. Therefore, when implementing digital transformation, enterprises need to fully consider their own industry characteristics and enterprise size, and formulate reasonable digital transformation strategies to positively impact financial performance. This study can help enterprises better understand and respond to the challenges and opportunities in digital transformation and promote sustainable development. Finally, the results of the study are also useful for governments and regulators to formulate relevant policies.