DIGITAL TRANSFORMATION AND ENTERPRISES’ OFDI DECISIONS: EVIDENCE FROM CHINESE LISTED COMPANIES

We explore whether enterprises’ digital transformation affects enterprises’ OFDI decisions based on the digital transformation intensity and the OFDI data of Chinese A-share listed enterprises from 2010 to 2020. According to the findings: digital transformation affects the willingness and amount of money to OFDI of enterprises. According to heterogeneity analysis, the above findings are differences between SOEs and private firms, financial sector firms and non-financial sector firms. Further analysis shows that board size and ownership concentration affect the relationship between enterprises’ digital transformation and enterprises’ OFDI. This paper provides new ideas for exploring enterprises’ OFDI and provides relevant evidence for understanding the effect of digital transformation.