Digital transformation and corporate creditworthiness

Xiaofei Zhen and Yiyang Zhou

Finance Research Letters, 2025, vol. 74, issue C

Abstract: Utilizing panel data from China's A-share listed companies spanning 2007 to 2022, this paper examines the effects of digital transformation on corporate creditworthiness, focusing on the underlying mechanisms at play. The findings of this study provide compelling evidence that digital transformation constitutes a significant driver of corporate creditworthiness enhancement. The mediation effect tests indicate that digital transformation enhances corporate creditworthiness through the improvement of internal control quality. The heterogeneity analysis shows that state-owned enterprises, high-tech firms, and companies facing intense market competition experience a greater positive impact on their creditworthiness from digital transformation.

Keywords: Digital transformation; Corporate creditworthiness; Internal control (search for similar items in EconPapers)
JEL-codes: G32 L21 M14 O33 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:74:y:2025:i:c:s1544612325000078

DOI: 10.1016/j.frl.2025.106742

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