The Impact of Enterprise Digital Transformation on the Cost of Debt Financing

In the environment of today's era, the rapid improvement of digital technology and the strength of intelligent technology has promoted the development of digital transformation. Changes in the economic environment in recent years have made the financing cost more and more important in enterprises, and how to reduce the financing cost has become an important issue. This paper selects all A-share listed Chinese enterprises to study the impact of enterprise digital transformation on the cost of debt financing. The empirical process concludes that promoting enterprise digital transformation reduces the cost of debt financing and proves the robustness of the conclusion. Meanwhile, the heterogeneity test shows that the differences in corporate nature and governance structure affect the effect of corporate digital transformation on debt financing cost reduction.