Digital technology adoption and enterprise investment efficiency

Qian Jiang, Chaoshuai Zhang and Qianqing Wei

Finance Research Letters, 2025, vol. 72, issue C

Abstract: Digital technology applications have a significant impact on the high-quality development of enterprises. This study investigates the influence of digital technology adoption on enterprise investment efficiency using data from Chinese listed companies between 2001 and 2022. The findings indicate that digital technology adoption can notably enhance enterprise investment efficiency, particularly in non-state-owned enterprises, those with high equity concentration, and technology-intensive enterprises. Digital technology adoption can enhance the effectiveness of corporate investment by mitigating information asymmetry and easing corporate financing constraints. Our study provides policy insights for promoting enterprise investment and improving enterprise investment performance.

Keywords: Digital technology adoption; Investment efficiency; Information asymmetry; Financing constraints (search for similar items in EconPapers)
JEL-codes: C23 C26 G31 G32 O33 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:72:y:2025:i:c:s1544612324016520

DOI: 10.1016/j.frl.2024.106623

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