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CEO digital background and corporate digitalization: the role of regional policy

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  • Zhuang, HanYu
  • Gao, Lei
  • Li, Jinhuan

Abstract

The present paper delves into the implications of CEO digital background for corporate digitalization. Employing a large panel of listed companies in Shanghai and Shenzhen Stock Exchanges from 2012 to 2024, this study unveils that CEOs’ digital background dramatically accelerates their firms’ digital transformation. Moreover, this impact is more evident when there are supporting regional policies. Our conclusions are robust to various econometric tests, including the DID method and PSM approach. Furthermore, we also identify crucial mechanisms: improved investment in digital technologies and strengthened training programs. In sum, by gaining novel insights into the link between CEO digital background and corporate digitalization, as well as the moderating role of regional policy, this study advances the extant economics research on the upper echelons theory and digital transformation.

Suggested Citation

  • Zhuang, HanYu & Gao, Lei & Li, Jinhuan, 2026. "CEO digital background and corporate digitalization: the role of regional policy," Finance Research Letters, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:finlet:v:88:y:2026:i:c:s1544612325023840
    DOI: 10.1016/j.frl.2025.109135
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