The impact of digital transformation on firms’ value: examining the role of ESG performance and the effect of information interaction

IF 5.5 3区材料科学 Q2 CHEMISTRY, PHYSICAL ACS Applied Energy Materials Pub Date : 2024-05-24 DOI:10.1108/bpmj-06-2023-0469

Disheng Wang, Xiaohong Xia

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Abstract

PurposeThis study aims to examine the impact of digital transformation on firms’ value and explore the mediating impact of ESG performance and moderating impact of information interaction.Design/methodology/approachData was collected from companies listed on the Shanghai and Shenzhen stock exchange between 2012 and 2020 with 21,488 observational samples, featuring a selection of 3,348 companies. Panel data regression techniques were used to test the mediating role of ESG performance and the moderating role of information interaction.FindingsThe study found that digital transformation can improve firms’ ESG performance, which in turn positively affects their value. The firms that engage in more interaction with outsiders benefit more from digital transformation and have a higher value.Originality/valueThis study provides new theoretical insight into improving firms’ value through digital transformation and ESG performance. It is the first to discuss and study the moderating role of information interaction in the relationship between digital transformation and firms’ value.

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数字化转型对企业价值的影响：研究环境、社会和公司治理绩效的作用以及信息互动的影响

目的本研究旨在考察数字化转型对企业价值的影响，并探讨环境、社会和公司治理绩效的中介作用和信息互动的调节作用。数据收集自 2012 年至 2020 年期间在上海和深圳证券交易所上市的公司，共 21488 个观察样本，其中精选了 3348 家公司。研究发现，数字化转型可以提高企业的环境、社会和治理绩效，进而对企业价值产生积极影响。与外界进行更多互动的企业从数字化转型中获益更多，价值更高。原创性/价值本研究为通过数字化转型和环境、社会和公司治理绩效提高企业价值提供了新的理论见解。它首次讨论和研究了信息互动在数字化转型与企业价值关系中的调节作用。

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来源期刊

ACS Applied Energy Materials Materials Science-Materials Chemistry

CiteScore

10.30

自引率

6.20%

发文量

1368

期刊介绍： ACS Applied Energy Materials is an interdisciplinary journal publishing original research covering all aspects of materials, engineering, chemistry, physics and biology relevant to energy conversion and storage. The journal is devoted to reports of new and original experimental and theoretical research of an applied nature that integrate knowledge in the areas of materials, engineering, physics, bioscience, and chemistry into important energy applications.