房地产企业数字化转型与融资能力
Digitization and Financing Ability of Real Estate Enterprises

伴随着数字技术的推广应用，中国的房地产企业也渐渐认识到了数字化转型的重要性，并开始将数字化转型作为企业未来发展的重要方向。本文基于2013~2022年中国沪深A股房地产业上市公司数据，使用实证分析的研究方法，分析了房地产企业数字化转型对其融资能力的影响。研究结果显示，房地产企业数字化转型能够有效提升其融资能力，经济政策不确定性发挥了调节作用。异质性分析发现，数字化转型对非国有企业和一线城市企业融资能力的提升作用更加显著。本文的研究进一步丰富了数字化转型经济效果的相关理论，能为房地产企业提升其融资能力提供借鉴。
With the advancement and implementation of digital technologies, real estate firms in China have come to recognize the critical significance of digital transformation, positioning it as a key focus for their future growth. Utilizing data from Shanghai and Shenzhen A-share real estate companies spanning from 2013 to 2022, this paper conducts an empirical analysis to explore how the digital transformation of these enterprises influences their financing capabilities. The findings reveal that such transformation can substantially enhance their ability to secure financing, with economic policy uncertainty acting as a moderating factor. Furthermore, a detailed analysis indicates that digital transformation yields even greater benefits for financing capabilities in non-state-owned enterprises and those located in first-tier cities. This research contributes to the existing literature on the economic impacts of digital transformation and can serve as a valuable resource for real estate companies aiming to bolster their financing prospects.