数字化转型对电商公司绩效影响的实证研究

An Empirical Study on the Impact of Digital Transformation on the Performance of E-Commerce Companies

摘要: 在数字经济飞速发展的背景下，应用数字技术推动企业内部资源整合与能力重构，进而改善企业绩效，已成为企业实现高质量发展的关键路径。电商企业作为数字化转型的先导力量，其绩效表现深受数字化进程的影响。本文以2020~2024年A股上市电商企业为研究对象，实证检验数字化转型对企业绩效的作用效果。研究结果表明，数字化转型对企业绩效具有显著的促进作用。异质性分析进一步发现，数字化转型的绩效提升效应在不同技术维度上存在差异，其中数字技术应用对企业绩效的推动作用尤为突出。数字化转型对不同规模企业的绩效提升均具有显著正向影响，体现出普惠性特征，说明中小企业同样能够通过实施适宜的数字化战略实现绩效改善。此外，研究还通过门槛效应模型识别出企业盈利能力构成关键边界条件：当总资产收益率低于7.03%时，数字化转型显著提升企业绩效。而当超过该阈值时，其促进作用明显减弱。研究结果及结论为电商企业推进数字化转型实践及相关理论研究提供扎实的实证依据。

Abstract: Amidst the rapid development of the digital economy, leveraging digital technologies to promote internal resource integration and capability restructuring, thereby enhancing corporate performance, has become a critical pathway for enterprises to achieve high-quality development. As pioneers in digital transformation, e-commerce companies see their performance significantly influenced by the digitalization process. This paper empirically examines the impact of digital transformation on corporate performance using a sample of A-share listed e-commerce companies from 2020 to 2024. The findings indicate that digital transformation has a significant promoting effect on corporate performance. Heterogeneity analysis further reveals that the performance-enhancing effects of digital transformation vary across different technological dimensions, with the application of digital technology playing a particularly prominent role in driving corporate performance. Furthermore, digital transformation exerts a significantly positive impact on performance improvement for companies of all sizes, demonstrating its inclusive nature and suggesting that small and medium-sized enterprises can also achieve performance improvements by implementing suitable digital strategies. Additionally, the study identifies corporate profitability as a critical boundary condition through a threshold effect model: when the return on assets (ROA) is below 7.03%, digital transformation significantly enhances corporate performance, whereas beyond this threshold, its promoting effect diminishes noticeably. The results and conclusions provide solid empirical evidence for advancing digital transformation practices in e-commerce companies and related theoretical research.