Digital technologies have been rapidly changing traditional industries. In the given context, this study reveals the internal influence mechanism of digital transformation on the corporate performance of the manufacturing industry based on the resource-based view theory. We build a theoretical...

This paper constructs an index of firm’s perception of economic policy uncertainty (FEPU) with text-mining method and investigates its impact on cash holdings. With a sample of Chinese listed firms from 2012 to 2020, our empirical results show that firms tend to hold less cash when they...

Current Economic Policy Uncertainty (EPU) indicators are highly correlated with macroeconomic growth. To better reveal the EPU perceived by each firm, a firm-level EPU index is constructed using a text mining method. Using data of Chinese A-share listed companies from 2011 to 2020, this study...