Shaping the Digital Future: The Role of Corporate Nationalism in Digital Transformation

Drawing on a dataset covering non-financial listed firms in China from 2009 to 2023, this study examines the impact of corporate nationalism on digital transformation. The results indicate that an increase in corporate nationalism significantly facilitates digital transformation. Mechanism analysis demonstrates that commercial credit financing, human capital structure upgrading, and enterprise innovation serve as key factors in this relationship. Furthermore, the analysis reveals that regional characteristics, industrial variations, and corporate attributes function as moderators in the linkage between corporate nationalism and digital transformation. Economic consequence tests indicate that corporate nationalism not only fosters digital transformation but also enhances enterprises’ risk-taking capacity and investment efficiency. This study provides empirical insights into the pivotal role of corporate nationalism in driving digital transformation, offering significant implications for cultivating nationalistic spirit and accelerating digital transformation efforts.