SSRN Electronic Journal,
Год журнала:
2024,
Номер
unknown
Опубликована: Янв. 1, 2024
In
the
policy
context
of
China's
CTAIS-3
project,
we
study
impact
tax
enforcement
on
corporate
digital
transformation
(CDTM).
We
find
that
enhanced
suppresses
CDTM.
This
effect
is
mainly
realized
through
three
channels:
increasing
burden
enterprises,
reducing
enterprise
investment
and
suppressing
innovation.
And
our
heterogeneity
test
indicates
negative
enhancement
CDTM
more
pronounced
for
corporates
located
in
provinces
with
lower
financial
accessibility,
cities
Internet
penetration
higher
fiscal
pressure.
Distinguished
at
firm
level,
strengthening
has
a
significant
dampening
enterprises
are
industries
levels
concentration,
firms
not
state-owned,
governance.
Our
sheds
light
potential
economic
consequences
micro-firm
level
changes
informs
future
reforms
developing
countries.
Applied Economics,
Год журнала:
2024,
Номер
unknown, С. 1 - 18
Опубликована: Авг. 6, 2024
This
paper
examines
the
influence
of
digital
transformation
in
finance
companies
within
business
groups
on
financing
constraints
enterprises.
In
this
paper,
we
demonstrate
that
can
markedly
alleviate
enterprises
same
group
through
'information
effect'.
Specifically,
reduce
information
asymmetry
between
supply
and
demand
sides
funds
thus
help
to
group.
Our
findings
remain
robust
after
conducting
various
tests,
such
as
replacing
dependent
variables,
excluding
other
policy
disruptions,
employing
a
placebo
test.
Heterogeneity
analysis
indicates
has
greater
impact
subsidiaries
have
higher
proportion
shares
held
by
ultimate
controller.
The
alleviating
effect
under
their
control
is
stronger
for
originally
had
less
prominent
roles
lending,
entrusted,
guaranteed
businesses.
Heliyon,
Год журнала:
2024,
Номер
10(22), С. e40401 - e40401
Опубликована: Ноя. 1, 2024
This
study
explores
the
connection
between
environmental,
social,
and
governance
(ESG)
performance,
financing
constraints,
corporate
investment
efficiency.
The
hypotheses
in
this
are
formulated
based
on
principles
of
stakeholder
agency
theories.
We
used
secondary
data
from
Chinese
A-share
listed
companies
2010
to
2021
conduct
an
empirical
analysis
using
Ordinary
Least
Squares
(OLS)
Fixed
Effect
(FE)
estimators.
results
indicate
that
good
ESG
performance
can
enhance
Compared
over-investment,
has
a
more
pronounced
effect
mitigating
under-investment.
Using
mediating
model,
we
also
find
exerts
inhibitory
influence
both
under-
over-investments
by
constraints.
Heterogeneity
indicates
enhancing
efficiency
is
significant
non-state-owned
corporations,
low-pollution
corporations
with
higher
proportion
institutional
investors.
provides
insights
for
improve
capital
allocation
promote
sustainable
development.
Sustainability,
Год журнала:
2024,
Номер
16(21), С. 9245 - 9245
Опубликована: Окт. 24, 2024
Corporate
digital
transformation,
primarily
driven
by
data
and
leveraging
technologies
mathematical
algorithms
such
as
Internet+,
big
data,
cloud
computing,
artificial
intelligence,
blockchain,
is
a
crucial
enabler
of
sustainable
development.
This
transformation
integrates
various
aspects
corporate
production
operations,
enhancing
the
level
operations
ultimately
contributing
to
high-quality
paper,
based
on
from
listed
companies
in
China’s
A-shares
2007
2021,
theoretically
articulates
intrinsic
mechanism
between
governance
level,
with
focus
sustainability.
It
empirically
finds
that
higher
degree
correlates
an
improved
governance,
fostering
practices.
Further
investigation
reveals
elevates
innovation
capabilities,
reducing
information
asymmetry,
promoting
strategies.
paper
provides
policy
insights
for
means
achieve
sustainability
goals
optimizing
management’s
long-term
success.
SSRN Electronic Journal,
Год журнала:
2024,
Номер
unknown
Опубликована: Янв. 1, 2024
In
the
policy
context
of
China's
CTAIS-3
project,
we
study
impact
tax
enforcement
on
corporate
digital
transformation
(CDTM).
We
find
that
enhanced
suppresses
CDTM.
This
effect
is
mainly
realized
through
three
channels:
increasing
burden
enterprises,
reducing
enterprise
investment
and
suppressing
innovation.
And
our
heterogeneity
test
indicates
negative
enhancement
CDTM
more
pronounced
for
corporates
located
in
provinces
with
lower
financial
accessibility,
cities
Internet
penetration
higher
fiscal
pressure.
Distinguished
at
firm
level,
strengthening
has
a
significant
dampening
enterprises
are
industries
levels
concentration,
firms
not
state-owned,
governance.
Our
sheds
light
potential
economic
consequences
micro-firm
level
changes
informs
future
reforms
developing
countries.
