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| Research on the Impact and Mechanism of Performance Below Aspiration Level on Enterprise Digital Transformation |
| LI Huiquan，LIN Qingning |
| 1. Qinghai University， Xining， China；2. Chinese Academy of Agricultural Sciences, Beijing, China |
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Abstract Based on corporate behavior and prospect theories, this study conducts an empirical examination of the impact of performance below aspiration level on the digital transformation of Chinese listed companies from 2010 to 2021. The research finds an inverted U-shaped relationship between performance below aspiration level and enterprise digital transformation. Mechanism testing shows that performance below aspiration level affects enterprise digital transformation by influencing the technological innovation and internal control capabilities. Resource redundancy weakens the digital transformation effect under performance below aspiration level, while managers’ macroeconomic cognition strengthens it. Heterogeneity analysis shows that the threshold effect in high-tech and state-owned enterprises is relatively lagged, and their digital transformation response is greater when performance is below the aspiration level.
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Received: 11 June 2024
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