Abstract
Digital transformation has become an important means for cultural and tourism enterprises to achieve high-quality development. The role of digital transformation in driving the development of cultural and tourism enterprises deserves to be fully explored. Based on the data of 98 listed cultural and tourism companies in China, this paper uses Python text mining, a two-way fixed effects model, and other methods to find that digital transformation could promote high-quality development of cultural and tourism enterprises. The positive effects of digital transformation are not limited by the nature of enterprise ownership, enterprise growth, or the competitive environment. The positive influence of digital transformation is significant when facing a high degree of marketization. Mechanism tests show that improvement in management efficiency, operational efficiency, quality of workforce, and industry spillovers are effective ways for digital transformation to promote high-quality development of cultural and tourism enterprises. The findings provide a decision-making basis for cultural and tourism enterprises to explore the potential of digital technology and cultivate digital transformation as an important driving force for high-quality development of enterprises.
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The data are available from the corresponding author on reasonable request.
Notes
Marketability index data is from China Provincial Marketization Index Database, the website is https://cmi.ssap.com.cn/.
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PRC National Social Science Foundation Youth Program, 23CJY047, Rui Tang.
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Tang, R., Xiu, P. & Dong, H. Research on Digital Transformation Driving the High-Quality Development of Cultural and Tourism Enterprises—Evidence Based on Listed Cultural and Tourism Companies. J Knowl Econ (2024). https://doi.org/10.1007/s13132-024-01972-3
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DOI: https://doi.org/10.1007/s13132-024-01972-3