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In an era where digital technology is reshaping business landscapes, understanding the factors that drive corporate digital transformation is essential. In this paper we explore these influencing factors, focusing on Chinese A-share listed companies from 2007 to 2021. Our approach involved a comprehensive analysis of multiple variables through regression techniques to determine their impact on digital transformation. The findings reveal the drive for reform in the digital transformation endeavours of enterprises. Notably, companies with higher gearing, overhead, and accounts receivable ratios exhibit a stronger inclination towards digital transformation. Conversely, enterprises in monopolistic industries and those at the inception stage of their life cycle show less propensity for such transformation. The findings of this research not only shed light on the strategic decisions behind digital transformation in response to financial and competitive challenges but also provide actionable insights for policymakers and business strategists. This study underscores the importance of contextualizing digital transformation efforts within the unique framework of industry characteristics and company development phases.
Zhao et al. (Fri,) studied this question.