The academic team

On the morning of April 22nd, the 94th jiaohu financial forum of jiangxi university of finance and economics was held in the conference room on the second floor of finance school.Professor Xiao Tusheng from School of Accounting, Central University of Finance and Economics was invited to give a lecture entitled Digitization and Enterprise Division of Labor -- Specialization or Integration.This lecture attracted many teachers and some graduate students from the School of Finance. Dr. Wang Hongjian presided over this lecture.

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At the beginning of the lecture, Dr. Wang Hongjian introduced Professor Xiao Tusheng's tenure and key research direction, and expressed his welcome and thanks for Professor Xiao Tusheng's lecture in the School of Finance.In the lecture, Professor Xiao first introduced the research background of the thesis: with the rapid development of digital technology, digital technology has become an important force in the current economic and social development, and the transformation and upgrading of enterprises with the help of digital means has become an important subject faced by enterprises.The Fifth Plenary Session of the 18th CPC Central Committee, the Fifth Plenary Session of the 19th CPC Central Committee, the 14th Five-Year Plan and the Outline of 2035 Vision Goals all mentioned the development of digital economy.

Professor Xiao then asked the research question: Does digitization have an impact on the division of labor?If so, in what direction?Taking China's A-share listed companies from 2010 to 2018 as the initial research samples, Professor Xiao finally obtained 15,942 annual observed values of 2,359 companies through screening and elimination under certain conditions.The data were used for modeling and analysis, and the endogeneity problem was solved by instrumental variable method, exogenous shock event test method, and difference method based on propensity score matching (PSM-DID).Prof Xiao also uses other robustness tests: the measure of the degree to which firms change their specialisation, the measure of the degree to which firms change their digitalisation, and the exclusion of explanations of firms' strategic behaviour.Finally, the following conclusions are drawn: the promotion of digitalization degree significantly promotes the specialization of enterprises;The digitalization promotes the specialization of the enterprise mainly through reducing the external transaction cost.The promotion effect of digitalization on specialization is more significant in enterprises with lower internal control cost.Digitization improves the total factor productivity of enterprises by promoting specialization.

At the end of the lecture, many teachers had a full exchange with Professor Xiao about the data processing and empirical test of the paper, and put forward some questions and suggestions.

Further reading:

Tusheng Xiao is an associate professor at the School of Accounting, Central University of Finance and Economics, and the director of the Department of Management Accounting. He is also the executive director of China Management Accounting Research and Development Center.He received his PhD in Management (Accounting) from Shanghai University of Finance and Economics in 2013 and was a visiting scholar at Cornell University and the Chinese University of Hong Kong.His main research interests include information disclosure, auditing and other capital market-related accounting and financial frontier issues.Has been TheAccountingReview, JournalofCorporateFinance, ChinaAccountingandFinanceReview, the management of the world, journal of management science and economics (quarterly), accounting research , nankai management reviewAnd other domestic and foreign academic journals published nearly 30 papers.World JournalofCorporateFinance, management, economics (quarterly), nankai management review, China's industrial economy , the study of finance and economics journals such as anonymous referees.His research results have been quoted and reported by the international famous financial media, such as TheEconomist, FinancialTimes, ColumbiaLawSchool's Blog, etc.