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Analysis of the impact mechanisms of the digital economy and executive risk preference on the intelligent transformation of enterprises

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  • Yang, Yuzhen
  • Tang, Mingfu

Abstract

This paper conducts an empirical analysis using sample data from Chinese listed companies between 2010 and 2023, examining the impact of the digital economy and executives' risk preferences on enterprises' intelligent transformation. The empirical results confirm that the digital economy significantly promotes enterprises' intelligent transformation; executives' risk preferences notably inhibit such transformation; the digital economy plays a moderating role in the relationship between executives' risk preferences and enterprises' intelligent transformation; the digital economy's impact on intelligent transformation demonstrates significant variability when contrasting heavily polluting enterprises with their lightly polluting counterparts; similarly, the impact of executives' risk preferences on intelligent transformation also shows heterogeneity between heavily polluting enterprises and lightly polluting enterprises.

Suggested Citation

  • Yang, Yuzhen & Tang, Mingfu, 2025. "Analysis of the impact mechanisms of the digital economy and executive risk preference on the intelligent transformation of enterprises," International Review of Economics & Finance, Elsevier, vol. 102(C).
  • Handle: RePEc:eee:reveco:v:102:y:2025:i:c:s1059056025005520
    DOI: 10.1016/j.iref.2025.104389
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