Economic evaluation features of management effectiveness in the enterprise in the digital transformation context

An analysis method of enterprise digital transformation effect based on investor data of public companies

“…In order to verify whether the three types of final controllers, namely founders, industrial investors and financial investors, have different impacts on enterprises' digital transformation, this paper constructs the following basic regression model (1) :…”

“…Generally speaking, the ultimate controller of the enterprise needs a certain amount of time to complete the industrial digital transformation. Assuming that the required time is lagged by one period and two periods respectively, the main independent variables are lagged by one period and two periods respectively, and then put into the regression model (1). From the regression results in columns ( 4) -(9) of Table 6, it can be seen that the regression results of founders are still positive in the case of lagged one and two periods, and the regression results of financial investment controllers lagged one and two periods are still significantly negative at the confidence level of 1%.…”

“…Published by Francis Academic Press, UK -65-bridge the error problem caused by sample bias. In the propensity score matching method, the nearest samples are matched in a ratio of 1:1, and then the matching results are repeated in the basic regression model (1). In the two-stage least square method, the instrumental variable of the main endogenous explanatory variable is obtained by selecting the average level of different types of controllers in the same industry in the same year.…”

“…According to the survey results of Internet data center (IDC), 67% of the top 1000 enterprises in the world regard Digital transformation as their core development strategy. However, from 2019 to 2020, about 70% of Digital transformation failed to meet expectations [1].…”

“…The possible contributions of this paper are mainly reflected in: (1) The existing research focusing on the ultimate controller mainly considers the property right attribute, while this paper has subdivided the research of the founding controller, financial investment controller and industrial investment controller on the Digital transformation of the enterprise based on the differences of the controllers who have obtained control for different merger and acquisition purposes, enriching the relevant research of the enterprise controller; (2) In the context of the rapid development of the digital economy, studying the impact of enterprise controllers on the Digital transformation of enterprises can analyze the attitude differences, promotion process and influencing factors of micro subject behavior in the digital economy, which is conducive to improving the theoretical research related to the digital economy from a micro perspective; (3) The test of the regulatory effect of digital finance and control, the further analysis of the heterogeneity of the three types of controllers, and the investigation of the theoretical mechanism reveal the influence and difference of controllers on Digital transformation in a more detailed and comprehensive way. These studies have certain reference value for enterprises to actively promote the process of Digital transformation to maintain and consolidate competitive advantages, relevant departments to formulate preferential policies, and promote high-quality development of enterprises and society.…”