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Can digital transformation decrease the debt concentration?
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DOI：10.1111/acfi.13399.png)
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Digital transformation affects a firm's financial decisions. This study examines the relationship between digital transformation and debt concentration. Higher-level corporate digital transformation significantly decreases debt concentration (i.e., firms prefer to choose multiple debt types). Moreover, this relationship is more pronounced for firms with lower accounting information quality, higher default risk, and higher bankruptcy costs. Additional analyses reveal that digital and institutional environments affect the relationship between digital transformation and debt concentration. This study contributes to existing literature by showing the impact of the integration of digital technology on firms' debt structures and the economy.
Keyword:
accounting information quality
coordination cost
debt concentration
digital transformation
financial distress
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2.6
论文数:
1.8K
被引数:
4.5K
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ECOLOGICAL ECONOMICS
ECOLOGICAL ECONOMICSIF6.3
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