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Academic Journal of Business & Management, 2023, 5(22); doi: 10.25236/AJBM.2023.052213.

Study on financial flexibility in the digital transformation of enterprises


Cheng Yuqing

Corresponding Author:
Cheng Yuqing

Accounting College, Anhui University of Finance and Economics, Bengbu, China


Since the COVID-19 outbreak in 2020, digital technology and industry have demonstrated its strong role. At the same time, the instability of the external environment requires enterprises to improve the management ability of financial resources and increase the financial flexible reserves to deal with adverse events and grasp the investment opportunities. In this paper, the data of Shanghai-Shenzhen A-share listed companies from 2009 to 2020 are selected to explore the relationship and action mechanism of financial flexibility and digital transformation. The research results show that the financial flexibility has a significant impact on the digital transformation, and the cash flexibility has a more obvious effect on the digital transformation, and the R&D investment and financing constraints play an intermediary role. The research conclusion provides new reference and inspiration for enterprises to improve the level of innovation investment and realize high-quality development.


Financial flexibility; digital transformation; R&D investment; financing constrain

Cite This Paper

Cheng Yuqing. Study on financial flexibility in the digital transformation of enterprises. Academic Journal of Business & Management (2023) Vol. 5, Issue 22: 89-97. https://doi.org/10.25236/AJBM.2023.052213.


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