| The fast advancement and widespread use of digital technology have resulted in the digital economy with the ongoing development of social information technology.The digital economy considers data resources to be the most essential component,contemporary information networks to be the primary carrier,and information technology integration application scenario and all-factor digital transformation to be the most vital driving force.In this form,the fairness and efficiency of resource allocation and utilization have been further developed.With the fast expansion of the digital economy,numerous insurance businesses are implementing digital innovations at a quick pace,and actively study the Internet of digital technologies,which can impact how insurance firms develop their products,run their businesses,manage their operations,and make decisions.A crucial element of insurance firms is their corporate governance structure,corporate governance is also a key factor affecting the long-term competitive advantage of insurance companies,but also the key to increase corporate performance development.Clarifying the link between digitalization degree and corporate governance level is one benefit of the research of this relationship,but there are other benefits as well,and helpful to study the influence mechanism between the two,and provide new experience for insurance companies to carry out digitization and improve corporate governance level.In the past,there were few studies on the connection between the level of corporate governance and the degree of digitization;the majority of these studies focused on publicly traded companies.This study examines the impact of digitization degree on corporate governance level using life and property insurance companies as research samples and agency cost as a moderating variable.This article is based on the basic theory of resource basic theory,information asymmetry,digital governance theory,and entrusted agency theory,and examines relevant domestic and international literature and materials for an empirical investigation of the relationship between insurance company governance level and degree of digitalization,this article used the yearly data of 77 life insurance companies and 82 property insurance companies from 2016 to 2021.The heterogeneity of insurance companies and the influence mechanism of digitalization degree on corporate governance level are examined.The outcomes demonstrate: 1)The degree of digitalization has a significant positive impact on the governance level of insurance companies.2)The relationship between corporate governance level and degree of digitalization is moderated significantly negatively by agency cost.3)The influence of digitization degree on the governance level of insurance companies is heterogeneous.The digitization of small and medium-sized insurance companies makes it easier to improve the governance level of insurance firms,and the digitization of property insurance companies makes it easier to improve the governance level of insurance firms.According to the study conclusions in the previous article,the following suggestions are made in this article.At the policy level,accelerate the establishment of data sharing mechanism within the industry,enhance the openness of information about the industry;Enhance the scientific level of enterprise decision-making and encourage the development of intelligent decision-making systems;We will quickly push for the development of relevant systems and enhance data and information security.To make disclosure of information more effective,establish the idea of sharing and mutual benefit at the insurance company level;Enhance the organization’s governance structure and governance level;Construct intelligent decision system to improve the level of company decision;Strengthen intellectual property protection and enhance digital technology’s competitiveness;Establish a reasonable incentive system to discourage managers from acting in their own interests and reduce agency costs. |
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