Exploring the synergistic effect of CEO power and technological expertise in driving corporate digital transformation

IF 9.8 1区经济学 Q1 BUSINESS, FINANCE International Review of Financial Analysis Pub Date : 2025-02-01 Epub Date: 2025-01-05 DOI:10.1016/j.irfa.2025.103918

Bingquan He , Lu Gan

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Abstract

Drawing upon a dataset encompassing non-financial listed firms in China spanning the years 2011 to 2022, this research delves into the influence exerted by CEO authority and technical background on the process of corporate digital transformation. Our findings suggest that an elevation in CEO power positively contributes to the advancement of corporate digital transformation. Furthermore, a discernible positive association exists between a CEO's technical background and the extent of corporate digital transformation. The analysis also uncovers that firm size acts as a moderator in the relationship linking CEO power to corporate digital transformation. Through mechanism exploration, we reveal that Research and Development (R&D) investment serves as a crucial mediator in this relationship. Additionally, an examination of heterogeneity highlights notable disparities in the impact of CEO power on digital transformation when comparing high-tech versus non-high-tech sectors. This study presents empirical insights elucidating the pivotal role of CEOs in driving corporate digital transformation and carries substantial implications for refining corporate governance frameworks and accelerating digital transformation efforts.

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探索CEO权力和技术专长在推动企业数字化转型中的协同效应

本研究以2011年至2022年中国非金融类上市公司为样本，探讨CEO权威和技术背景对企业数字化转型过程的影响。我们的研究结果表明，CEO权力的提升对企业数字化转型的推进有积极的贡献。此外，CEO的技术背景与企业数字化转型程度之间存在明显的正相关关系。分析还发现，企业规模在CEO权力与企业数字化转型之间的关系中起着调节作用。通过机制探索，我们发现研发投资在这一关系中起着至关重要的中介作用。此外，对异质性的研究表明，在比较高科技和非高科技行业时，CEO权力对数字化转型的影响存在显著差异。本研究提供了实证见解，阐明了ceo在推动企业数字化转型中的关键作用，并对完善公司治理框架和加速数字化转型工作具有重大意义。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.