研究成果：Unraveling the performance puzzle of digital transformation: The moderating role of TMT heterogeneity and fault line strength

作者：张晓丹

发表期刊：Journal of Business Research

期刊级别：ABS3

发表时间：2025年5月

摘要：Despite the proven advantages of cutting costs and boosting efficiency through digital transformation (DT), the empirical findings about the relationship between DT and financial performance remain ambiguous. This study attempts to reveal boundary conditions under which DT influences firm performance by examining how two top management team (TMT) characteristics—TMT heterogeneity and TMT fault line strength—moderate this relationship. Using panel data from A-share listed companies in China, the results reveal that DT positively impacts financial performance. However, TMT heterogeneity and TMT fault line strength have negative moderating effects on the relationship between DT and firm performance. Moreover, when heterogeneity creates strong fault line within the TMT, it strengthens the weakening role of heterogeneity on the effectiveness of DT implementation. These findings contribute to existing literature on DT implementation by exploring the role of TMT characteristics and provide valuable insights for managers and policymakers seeking to leverage digital transformation strategically.