Digital maturity and its impact on firm performance and valuation : industry antecedents and the moderating role of firm age | |
| Author | Kriangkrai Cherngwiwatkit |
| Call Number | AIT Diss. no. DBA-SOM-24-12 |
| Subject(s) | Organizational change Business enterprises--Technological innovations |
| Note | A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Business Administration, School of Management |
| Publisher | Asian Institute of Technology |
| Abstract | This study examines the impact of digital maturity on firm performance and valuation, using data from 440 listed companies in Thailand. Specifically, it explores the relationships between digital maturity, firm performance, and valuation, while also considering the role of industry characteristics as antecedents of digital maturity and the moderating effect of firm age in the digital maturity-performance relationship. The findings reveal several important insights. First, while digital maturity positively impacts firm valuation, this effect is fully mediated by improved performance, suggesting that investors value digital transformation only when it translates into measurable operational gains. Additionally, the study highlights that the effects of industry competition and dynamism in emerging markets may differ from those observed in developed economies. Contrary to prior research, highly dynamic industries in the study are found to be associated with lower digital maturity, while competition is not a significant driver of digital maturity. These divergences from prevailing understanding suggest a need to explore contextual factors unique to emerging markets that may account for these differences. IT intensity is confirmed as a significant driver of digital maturity, aligning with the Resource-Based View, which emphasizes the role of IT infrastructure in achieving competitive advantage. Furthermore, firm age is found to negatively moderate the relationship between digital maturity and firm performance, supporting existing literature and highlighting the need for firms to address age-related barriers in their digital transformation efforts. This research contributes to the literature by advancing the understanding of how digital maturity interacts with industry characteristics and firm age to influence performance and valuation in emerging markets. It underscores the importance of tailored strategies to address the specific challenges and opportunities in these markets and offers practical insights for managers and policymakers seeking to optimize digital transformation efforts. |
| Year | 2024 |
| Type | Dissertation |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Doctor of Philosophy in Business Administration (Publication code = DBA-SM, SM) |
| Chairperson(s) | Badir,Yuosre F.M.; |
| Examination Committee(s) | Khan, Syed Shurid;Cruz, Simon Guerrero; |
| Scholarship Donor(s) | AIT Scholarship; |
| Degree | Thesis (Ph.D.) - Asian Institute of Technology, 2024 |