Media Oversight and Corporate Digital Transformation: Empirical Evidence from Chinese A-Share Listed Firms
0
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
In the era of digital economy, media oversight has emerged as a critical external governance mechanism influencing firms’ strategic transformation. Drawing on Reputation Theory, Agenda-Setting Theory, Upper Echelons Theory, and Dynamic Capabilities Theory, this study explores how media oversight affects enterprise digital transformation, with enterprise innovation investment as a mediator and executives’ IT background as a moderator. Using panel data of Chinese A-share listed companies from 2011 to 2023 and applying a two-way fixed effects model, the results show that media oversight significantly promotes digital transformation. Further analysis reveals that this effect operates through increased innovation investment, confirming the mediating role of R&D activity. Moreover, the positive impact of media oversight is amplified when a higher proportion of board members possess IT-related backgrounds, indicating a boundary-enhancing moderating effect. These findings not only extend the literature on institutional governance and digital strategy but also highlight the importance of top management’s digital competence in leveraging external pressures. Practically, the study offers implications for platform media, corporate governance, and digital talent selection, especially under policy-driven and high-uncertainty environments.
Abstract
In the era of digital economy, media oversight has emerged as a critical external governance mechanism influencing firms’ strategic transformation. Drawing on Reputation Theory, Agenda-Setting Theory, Upper Echelons Theory, and Dynamic Capabilities Theory, this study explores how media oversight affects enterprise digital transformation, with enterprise innovation investment as a mediator and executives’ IT background as a moderator. Using panel data of Chinese A-share listed companies from 2011 to 2023 and applying a two-way fixed effects model, the results show that media oversight significantly promotes digital transformation. Further analysis reveals that this effect operates through increased innovation investment, confirming the mediating role of R&D activity. Moreover, the positive impact of media oversight is amplified when a higher proportion of board members possess IT-related backgrounds, indicating a boundary-enhancing moderating effect. These findings not only extend the literature on institutional governance and digital strategy but also highlight the importance of top management’s digital competence in leveraging external pressures. Practically, the study offers implications for platform media, corporate governance, and digital talent selection, especially under policy-driven and high-uncertainty environments.