一、主题：The Digital Dilemma: Corporate Digital Transformation and Financial Distress

二、汇报人：卢昱霏 2022级金融学硕博连读生

三、时间地点：2024年9月1日下午16:00，沙河校区3号楼217教室

四、报告简介：我院硕博连读生卢昱霏与中央财经大学金融学院吴锴副教授合作的论文《The Digital Dilemma: Corporate Digital Transformation and Financial Distress》经过评审应邀参加“The Indonesian Financial Management Association (IFMA) International Conference”。卢昱霏同学将在校内就该参会论文做出学术报告。

五、报告摘要：In this study, we explore the influence of corporate digital transformation on financial distress risk by analyzing listed firms in the China A-share market from 2007 to 2020. Our results demonstrate that digital transformation increases the riskof financial distress, particularly for firms with higher levels of industry competition, agency costs, managerial risk preference, and labor intensity. We attribute this effect to the elevated investment risk and human capital losses by digital transformation.Furthermore, corporate digital transformation also reduces executive pay-performance sensitivity and intensifies debt maturity mismatches, suggesting decreased executive incentives and financing efficiencies. Our findings demonstrate the potential risks associated with corporate digital transformation.

六、参加会议简介：The Indonesian Financial Management Association (IFMA)是一个成立于2010年的致力于研究和推广金融知识的国家学术组织。该协会通常在8月/12月举办年度学术会议，汇集来自世界各地的数十名专家学者，会议将深刻探讨金融和经济学领域的前沿研究。本次会议主席为斯德哥尔摩经济学院Bo Becker教授，曾担任《Review of Financial Studies》《Management Science》和《and Financial Management》的副主编，其研究发表在顶级经济学和商业期刊《Journal of Finance》《Journal of Monetary Economics》《 the Journal of Financial Economics》和《Review of Financial Studies》。

撰稿：卢昱霏

初审：赵学辉

终审：魏 旭