The influence of digital transformation (DT) on corporate credit risk is experimentally investigated in this article from 2015 to 2021 using a sample of listed Chinese intelligent manufacturing enterprises (IMEs). The results indicate a nonlinear relationship between credit risk and DT. Once DT reaches a certain point, credit risk decreases. Overcommitment to DT raises credit risk. Several robustness tests confirm that the conclusion is still valid. DT impacts credit risk through three different mechanisms, according to mechanism analysis: the finance effect, and the innovation effect. According to heterogeneity analysis, the nonlinear impact of DT on credit risk is more pronounced in IMEs with lower governance levels and higher productivity. This study enables us to understand DT 's economic consequences. This paper provides empirical insights for IMEs to develop DT and prevent credit risk rationally.

Yang Li, Liangrong Song, Yashan Peng. Unravelling the credit risk puzzle of digital transformation in intelligent manufacturing enterprises: the moderating role of supply chain finance. The Frontiers of Society, Science and Technology (2025), Vol. 7, Issue 4: 23-30. https://doi.org/10.25236/FSST.2025.070404.

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