 Corporate maturity mismatch and enterprise digital transformation: Evidence from ChinaYan Hu, Dexin Che, Fei Wu and Xi Chang Finance Research Letters, 2023, vol. 53, issue C Abstract: This paper sheds light on the impact of corporate maturity mismatch on enterprise digital transformation for the first time. We conduct in-depth text analysis on a huge number of annual reports and construct the earliest digital transformation index in China. The results show that the greater the corporate maturity mismatch is, the worse the enterprise digital transformation is, and this effect is more pronounced in non-SOEs, manufacturing industries and growing or mature firms. Furthermore, corporate maturity mismatch hinders enterprise digital transformation by exacerbating financial distress and distorting investment behavior, and the financial regulation plays a role in mitigating this negative effect. The findings provide insights into how to promote the development of the digital economy in China. Keywords: Corporate maturity mismatch; Enterprise digital transformation; Financial distress; Corporate financialization; Big data; Natural language processing (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:53:y:2023:i:c:s154461232300051x DOI: 10.1016/j.frl.2023.103677 Access Statistics for this article Finance Research Letters is currently edited by R. Gençay More articles in Finance Research Letters from Elsevier |
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