In the context of the rapid advancement of the digital economy, enterprise digital transformation has become a core strategic choice for enterprises to enhance operational efficiency, adapt to market changes, and maintain competitive advantages. Meanwhile, digital finance, driven by technologies such as big data, artificial intelligence, blockchain, and cloud computing, has emerged as a critical force reshaping financial services and supporting economics. This paper focuses on exploring the impact of digital finance on enterprise digital transformation, aiming to clarify its internal mechanisms and practical pathways through theoretical analysis, mechanism deduction, and multi-dimensional impact assessment. Drawing on theories including financial development theory, resource-based view, technology acceptance model, and dynamic capability theory, the study argues that digital finance influences enterprise digital transformation through four key mechanisms: financing constraint mitigation, technology empowerment, data element activation, and ecological synergy. Specifically, digital finance promotes enterprises’ investment in digital infrastructure, deepens the application of digital technologies, and accelerates the reconstruction of digital organizational models by reducing financing costs, providing technical tools, facilitating data circulation, and integrating industrial ecosystems. However, the impact exhibits heterogeneity due to differences in enterprise size, industry characteristics, and regional digital finance development levels. Finally, targeted recommendations are proposed for enterprises and policymakers to leverage digital finance effectively in advancing high-quality digital transformation 1.
Jiali Wu (Wed,) studied this question.