融资约束与企业数字化转型信息披露迎合行为——基于资源获取视角

王治; 邱妍

融资约束与企业数字化转型信息披露迎合行为——基于资源获取视角

引用本文：王治,邱妍.融资约束与企业数字化转型信息披露迎合行为——基于资源获取视角[J].财经理论与实践,2025,(3):103-108

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作者	单位
王治,邱妍	（长沙理工大学经济与管理学院，湖南长沙 410114）

中文摘要:基于资源获取视角，依据2013—2023年沪深A股制造业上市公司数据，考量融资约束对企业数字化转型信息披露迎合行为的影响。结果显示，融资约束诱发企业数字化转型信息披露迎合行为，且在管理层短视程度较高企业表现突出，而在分析师关注度高和机构投资者持股比例较高的企业会被有效抑制。鉴于此，建议强化企业信息披露责任意识，完善数字化转型信息披露制度，提升金融机构甄别能力，优化市场治理环境。

中文关键词:数字化转型信息披露融资约束迎合行为

Financing Constraints and Catering Behavior of Corporate Digital Transformation Information Disclosure —A Resource Acquisition Perspective

Abstract:Based on the resource acquisition perspective, we consider the impact of financing constraints on the disclosure catering behavior of firms’ digital transformation based on the data of A-share manufacturing companies in Shanghai and Shenzhen from 2013 to 2023. The results show that financing constraints can induce the disclosure catering behavior of digital transformation, and it is more significant in firms with higher degree of management short-sightedness, while it is effectively suppressed in firms with higher analysts’ attention and institutional investors’ shareholding ratio. In view of this, it is recommended to strengthen the awareness of corporate disclosure responsibility, improve the information disclosure system for digital transformation, enhance the screening ability of financial institutions, and optimize the market governance environment.

keywords:digital transformation information disclosure financing constraints catering behavior

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