Digitalization and Firm Performance: Empirical Evidence from Forbes-listed Companies

Oumeima Toumia, R. Mefteh, Marc Cowling
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Abstract

As the world goes digital, many companies have found that their performance improves when they digitize their operations. This is especially true in light of the COVID-19 pandemic, as companies must rely more on digital tools to survive. Our paper aims to examine the connection between digital competitiveness and the financial performance of 86 digital businesses at the country level before, during, and after the COVID-19 pandemic over the period 2017--2021. Unlike previous findings that relied on qualitative methods, our research relies on quantitative methods. More precisely, we empirically examine the impact of digital competitiveness (i.e., an index) on financial performance (i.e., measured by return on assets) through linear regression models and panel data regressions for three specific periods (2017-2019 pre-pandemic, 2020 pandemic, and 2021 post-pandemic). We found that COVID-19 allows firms to adopt digitalization. More specifically, comparing the three periods, we discovered that digital competitiveness positively influences business financial performance in the post-Covid era. Looking ahead to the post-Covid world, it is clear that companies must prioritize digital competitiveness to ensure their long-term success. Governments can learn important lessons from this research on how to help companies digitize."
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数字化与公司业绩:福布斯上市公司的经验证据
随着世界走向数字化,许多公司发现,当他们实现数字化运营时,他们的业绩也会随之提高。在 COVID-19 大流行的情况下尤其如此,因为企业必须更加依赖数字化工具才能生存。我们的论文旨在研究 2017-2021 年期间,在 COVID-19 大流行之前、期间和之后,86 家数字企业在国家层面上的数字竞争力与财务业绩之间的联系。与以往依赖定性方法的研究结果不同,我们的研究依赖定量方法。更确切地说,我们通过线性回归模型和三个特定时期(2017-2019 年大流行前、2020 年大流行期间和 2021 年大流行后)的面板数据回归,实证检验了数字竞争力(即指数)对财务业绩(即以资产回报率衡量)的影响。我们发现,COVID-19 允许企业采用数字化。更具体地说,比较三个时期,我们发现数字化竞争力对后科维德时代的企业财务绩效有积极影响。展望后科维德时代,企业显然必须优先考虑数字化竞争力,以确保其长期成功。各国政府可以从这项研究中汲取重要经验,了解如何帮助企业实现数字化"。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Journal of Innovation Management
Journal of Innovation Management Engineering-Engineering (miscellaneous)
CiteScore
3.50
自引率
0.00%
发文量
21
审稿时长
25 weeks
期刊最新文献
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