The Impact Of Digital Financial Transformation On The Financial Performance Of Enterprises

In the last few years,the digital economy has been the new impetus of China’s economic development.As an important part of the digital transformation,more and more enterprises have begun to realize the importance of financial digital transformation.As the backbone of China’s economic development,mainboard listed enterprises are in a leading position in various industries.At the same time,there are also problems such as complex organizational levels and low efficiency of information communication.In particular,the full outbreak of the COVID-19 has had a huge impact on the earnings of listed companies on the main board.Therefore,whether the mainboard listed enterprises can comply with the tide of the development of the digital economy and achieve long-term corporate benefits in an uncertain external environment through digital transformation is an important issue of concern to the academic and industrial circles at present.In view of the above-mentioned background,this thesis makes research on the influence and action path of finance digitalization on the financial performance of listed companies,hoping to provide reference suggestions for enterprises that are or plan to carry out digital transformation.This paper discusses its connotation and theoretical basis from the perspective of financial digital transformation;Secondly,on the basis of previous studies,we further expand the existing research and put forward the research hypothesis of this paper;Thirdly,using the method of combining text mining and panel regression analysis,we selected 2566 enterprises and 21932 samples listed on the main board of China from 2012 to 2021 as the research object to conduct empirical research,and explored the internal mechanism of the impact of the financial digitalization transformation of the main board listed enterprises on financial performance;Finally,according to the results of the empirical analysis,the paper gives the strategic suggestions for the listed companies on the main board of China to carry out the financial digital transformation.The research results show that:(1)The financial digitalization transformation of listed companies on the main board has significantly improved their financial performance;(2)In the process of financial digitalization transformation affecting enterprise financial performance,the level of information symmetry plays a positive intermediary role;(3)In the process of financial digital transformation affecting the financial performance of enterprises,the operating cost rate plays a negative intermediary role;(4)The level of information symmetry and the operating cost rate play a chain intermediary effect in the impact of financial digital transformation on financial performance;(5)Compared with East,middle and west financial digitalization transition has a more remarkable influence on finance performance.Therefore,in the wave of rapid development of digital economy,listed companies on the main board should actively carry out financial digital transformation,build an efficient financial information sharing platform through digital technology,and focus on the cost control in the course of finance digitalization and business management.