{"title":"Can digital transformation promote high-technology firms’ trans-regional investment?","authors":"Hongrui Yang, Yuan Zhang","doi":"10.1016/j.frl.2024.106575","DOIUrl":null,"url":null,"abstract":"This study investigates the correlation between the trans-regional investment of high-tech firms and digital transformation. We employ a two-fixed model based on listed firms from 2011 to 2022 to investigate the effects and fundamental mechanisms. Findings suggest that digital transformation can encourage high-tech firms to invest in trans-regional markets. This investment is accomplished by reducing costs, eliminating information asymmetry, and improving specialization and division of labor. This study examines how digital economic development is altering regional economic geography on a small scale, providing novel evidence and insights.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"59 1","pages":""},"PeriodicalIF":7.4000,"publicationDate":"2024-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1016/j.frl.2024.106575","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
This study investigates the correlation between the trans-regional investment of high-tech firms and digital transformation. We employ a two-fixed model based on listed firms from 2011 to 2022 to investigate the effects and fundamental mechanisms. Findings suggest that digital transformation can encourage high-tech firms to invest in trans-regional markets. This investment is accomplished by reducing costs, eliminating information asymmetry, and improving specialization and division of labor. This study examines how digital economic development is altering regional economic geography on a small scale, providing novel evidence and insights.
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