New-type infrastructure and corporate digital transformation: Evidence from a multimethod machine learning approach

Chen Chen and Zhixin Xue

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

Abstract: This study is an exploration of the impact of new-type infrastructure on corporate digital transformation. The results show that the construction of new-type infrastructure has played a major role in corporate digital transformation. The heterogeneity tests indicate that this positive effect is more significant with higher levels of urbanization and higher levels of human capital at the regional level, less efficient management of liquid assets and higher financing constraints at the firm level. The mechanism results suggest that the internal innovation incentives and the external governance environment are important mechanisms influencing the relationship between new-type infrastructure and corporate digital transformation.

Keywords: New-type infrastructure; Corporate digital transformation; Pre-trained language model; Causal forests; The normalization model (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:s1544612325000212

DOI: 10.1016/j.frl.2025.106756

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