Research on the Impact of Financial Sharing on Corporate Performance under the Transformation of Financial Numerical Intelligence The Mediating Effect Based on the Level of Corporate Governance

This paper takes financial sharing-corporate governance level-firm performance as the research framework, based on the data of A-share listed companies from 2005 to 2023.It applies the double-difference bivariate fixed model and mediation effect model to explore the relationship between financial sharing, corporate governance level and firm performance.The paper further analyses the heterogeneity of the nature of equity. The results of the study show that the establishment of financial sharing centre by the company significantly enhances the performance of the company. The effect is more significant in non-state-owned firms compared to state-owned firms. Corporate governance plays a partial mediating role in it.