| Digital transformation has provided both major opportunities and significant challenges to organizations.The decision ‘to be or not to be digital’is a challenge for decision-makers.By integrating the behavioral theory of the firm into how firms behave in digital transformation,this study employs the combination of willingness and capacity perspectives to establish links between firms’ performance feedback and digital transformation.Using a longitudinal dataset of Chinese listed manufacturing firms from 2012 to 2019,the results suggest that firms with positive performance-aspiration discrepancies are more likely to be engaged in digital transformation,whereas there is no direct relationship between negative performance-aspiration discrepancies and digital transformation.Strategic orientations and regional-level digital infrastructure moderate the relationship between performance-aspiration discrepancies and digital transformation.This study contributes to the literature on the behavior of the firm and enriches our understanding of digital transformation. |
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