Manufacturing enterprise digital transformation, manager cognition, and strategic Risk-Taking—Evidence from China

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE International Review of Economics & Finance Pub Date : 2025-03-01 Epub Date: 2025-01-21 DOI:10.1016/j.iref.2025.103906

Zhongsheng Zhou , Jingyao Zhang , Chao He

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Abstract

Exploring how Chinese manufacturing companies integrate digital technology to transform, upgrade, and enhance strategic risk management is essential in the digital economy age. Our study reveals that the performance expectation gap (both the historical performance expectation gap and the industry performance expectation gap) serves as a critical pathway through which digital transformation negatively influences strategic risk-taking. Furthermore, the study highlights that managers’ digital cognition can moderate the inverse relationship between digital transformation and strategic risk-taking. This moderating effect is particularly significant in companies with a concentrated R&D organizational structure, high levels of resilience, and more educated and higher R&D human resources. This study advances the research on strategic risk-taking and offers guidance for decision-making related to enterprise digital transformation and strategic risk management, thereby providing theoretical and practical value.

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制造业企业数字化转型、管理者认知与战略风险承担——来自中国的证据

在数字经济时代，探索中国制造企业如何整合数字技术进行转型升级，并加强战略风险管理，具有重要意义。我们的研究表明，业绩预期差距（包括历史业绩预期差距和行业业绩预期差距）是数字化转型对战略风险承担产生负面影响的关键途径。此外，研究还强调，管理者的数字化认知可以调节数字化转型与战略风险承担之间的负相关关系。这种调节效应在研发组织结构集中、弹性水平高、受教育程度高、研发人力资源丰富的公司尤为显著。本研究推进了战略风险承担的研究，为企业数字化转型和战略风险管理的相关决策提供了指导，具有理论和实践价值。

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来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.