{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,9]],"date-time":"2026-10-09T04:40:13Z","timestamp":1791520813207,"version":"4.3.4"},"reference-count":55,"publisher":"Public Library of Science (PLoS)","issue":"12","license":[{"start":{"date-parts":[[2024,12,5]],"date-time":"2024-12-05T00:00:00Z","timestamp":1733356800000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"Integrated Characteristic Development Project of Guangxi Minzu Normal University","award":["Grant Nos. 1024\/10300130; JGYTH2403; JGYTH2404"],"award-info":[{"award-number":["Grant Nos. 1024\/10300130; JGYTH2403; JGYTH2404"]}]},{"name":"Guangxi Minzu Normal University, High-level Personnel Research Fund Project","award":["2024SBNGCC08"],"award-info":[{"award-number":["2024SBNGCC08"]}]}],"content-domain":{"domain":["www.plosone.org"],"crossmark-restriction":false},"short-container-title":["PLoS ONE"],"abstract":"<jats:p>This study investigates the impact of environmental uncertainty on the digital transformation of Chinese A-share listed companies from 2013 to 2022. Our empirical analysis reveals that environmental uncertainty negatively affects digital transformation by inducing managerial myopia, hindering research and development (R&amp;D) investment, and exacerbating financial constraints. However, these negative effects can be mitigated by increasing management shareholding, which aligns managers\u2019 interests with long-term goals, providing digital transformation subsidies to lower financial barriers, and fostering a favorable legal environment to protect digital investments and innovation. These findings offer valuable insights for understanding how environmental uncertainty influences digital transformation strategies and provide practical implications for enterprises and policymakers in dynamic business environments.<\/jats:p>","DOI":"10.1371\/journal.pone.0314688","type":"journal-article","created":{"date-parts":[[2024,12,5]],"date-time":"2024-12-05T19:17:39Z","timestamp":1733426259000},"page":"e0314688","update-policy":"https:\/\/doi.org\/10.1371\/journal.pone.corrections_policy","source":"Crossref","is-referenced-by-count":6,"title":["Navigating uncertainty: The impact of environmental instability on enterprise digital transformation"],"prefix":"10.1371","volume":"19","author":[{"given":"Feifei","family":"Luo","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-9378-5836","authenticated-orcid":true,"given":"Chia-Hsien","family":"Tang","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"340","published-online":{"date-parts":[[2024,12,5]]},"reference":[{"issue":"1","key":"pone.0314688.ref001","doi-asserted-by":"crossref","first-page":"112","DOI":"10.58729\/1941-6679.1283","article-title":"Cloud computing technology: Leveraging the power of the internet to improve business performance","volume":"29","author":"M. Attaran","year":"2020","journal-title":"Journal of International Technology and Information Management"},{"key":"pone.0314688.ref002","first-page":"263","article-title":"Organizational digital transformation: A systematic literature review and a future research agenda","volume":"136","author":"C. Troise","year":"2022","journal-title":"Journal of Business Research"},{"issue":"6568","key":"pone.0314688.ref003","article-title":"A study on the impact of digital transformation on corporate ESG performance: The mediating role of green innovation","volume":"15","author":"S. Wu","year":"2023","journal-title":"Sustainability"},{"key":"pone.0314688.ref004","first-page":"120509","article-title":"Accelerating digital transformation through innovation and technology adoption","volume":"164","author":"S. Kim","year":"2021","journal-title":"Technological Forecasting and Social Change"},{"key":"pone.0314688.ref005","unstructured":"Accenture. (2023). China Digital Transformation Index 2023. Retrieved from https:\/\/www.accenture.com\/hk-en\/insights\/strategy\/china-digital-transformation-index-2023"},{"issue":"22","key":"pone.0314688.ref006","doi-asserted-by":"crossref","first-page":"3818","DOI":"10.3390\/electronics11223818","article-title":"Emerging technologies\u2019 contribution to the digital transformation in accountancy firms","volume":"11","author":"A. Tiron-Tudor","year":"2022","journal-title":"Electronics"},{"issue":"1","key":"pone.0314688.ref007","doi-asserted-by":"crossref","first-page":"13","DOI":"10.2307\/3069334","article-title":"Direct and moderating effects of human capital on strategy and performance in professional service firms: A resource-based perspective","volume":"44","author":"L. M. Hitt","year":"2001","journal-title":"Academy of Management Journal"},{"issue":"4","key":"pone.0314688.ref008","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1016\/0304-405X(76)90026-X","article-title":"Theory of the firm: Managerial behavior, agency costs and ownership structure","volume":"3","author":"Michael C. Jensen","year":"1976","journal-title":"Journal of Financial Economics"},{"issue":"3","key":"pone.0314688.ref009","doi-asserted-by":"crossref","first-page":"313","DOI":"10.2307\/2392145","article-title":"Characteristics of organizational environments and perceived environmental uncertainty","volume":"17","author":"R. B. Duncan","year":"1972","journal-title":"Administrative Science Quarterly"},{"issue":"2","key":"pone.0314688.ref010","doi-asserted-by":"crossref","first-page":"188","DOI":"10.1016\/j.aos.2008.07.001","article-title":"Environmental uncertainty and managers\u2019 use of discretio-nary accruals","volume":"34","author":"D. Ghosh","year":"2009","journal-title":"Accounting Organizations&Society"},{"issue":"4","key":"pone.0314688.ref011","doi-asserted-by":"crossref","first-page":"297","DOI":"10.1007\/BF00122574","article-title":"Advances in prospect theory: Cumulative representation of uncertainty","volume":"5","author":"A. Tversky","year":"1992","journal-title":"Journal of Risk & Uncertainty"},{"issue":"16","key":"pone.0314688.ref012","first-page":"9091","article-title":"Does ownership structure affect corporate environmental investment? Evidence from China","volume":"13","author":"K. Li","year":"2021","journal-title":"Sustainability"},{"key":"pone.0314688.ref013","first-page":"101724","article-title":"Economic policy uncertainty and corporate investment: Evidence from China","volume":"72","author":"C. C. Chen","year":"2022","journal-title":"Pacific-Basin Finance Journal"},{"key":"pone.0314688.ref014","doi-asserted-by":"crossref","first-page":"184","DOI":"10.1016\/j.jbusres.2021.09.048","article-title":"Environmental uncertainty, resource orchestration and digital transformation: A fuzzy-set QCA approach","volume":"139","author":"H. Chen","year":"2022","journal-title":"Journal of Business Research"},{"issue":"11","key":"pone.0314688.ref015","first-page":"64","article-title":"How smart, connected products are transforming competition","volume":"92","author":"M. E. Porter","year":"2014","journal-title":"Harvard Business Review"},{"issue":"04","key":"pone.0314688.ref016","first-page":"766","article-title":"Research on the digital transformation of small and medium-sized enterprises under the matching of resources and capabilities","volume":"42","author":"L. Niu","year":"2024","journal-title":"Studies in Science of Science"},{"key":"pone.0314688.ref017","first-page":"365","article-title":"Industry competition, environmental uncertainty, and corporate social responsibility","volume":"179","author":"H. Shen","year":"2022","journal-title":"Journal of Business Ethics"},{"issue":"15","key":"pone.0314688.ref018","first-page":"8543","article-title":"The impact of environmental uncertainty on firm\u2019s financialization: The mediating role of managerial myopia","volume":"13","author":"X. Zhang","year":"2021","journal-title":"Sustainability"},{"issue":"11","key":"pone.0314688.ref019","doi-asserted-by":"crossref","first-page":"1404","DOI":"10.1287\/mnsc.33.11.1404","article-title":"Managerial perspectives on risk and risk taking","volume":"33","author":"J. G. March","year":"1987","journal-title":"Management Science"},{"issue":"19","key":"pone.0314688.ref020","doi-asserted-by":"crossref","first-page":"12846","DOI":"10.3390\/ijerph191912846","article-title":"The Impact of Digital Transformation on Corporate Environment Performance: Evidence from China","volume":"19","author":"W. Xiong","year":"2022","journal-title":"International Journal of Environmental Research and Public Health"},{"key":"pone.0314688.ref021","doi-asserted-by":"crossref","DOI":"10.1515\/9781400830176","volume-title":"Investment under uncertainty","author":"A. K. Dixit","year":"1994"},{"issue":"4","key":"pone.0314688.ref022","doi-asserted-by":"crossref","first-page":"1593","DOI":"10.1093\/qje\/qjw024","article-title":"Measuring economic policy uncertainty","volume":"131","author":"S. R. Baker","year":"2016","journal-title":"The Quarterly Journal of Economics"},{"key":"pone.0314688.ref023","doi-asserted-by":"crossref","first-page":"1468","DOI":"10.1016\/j.procs.2023.10.135","article-title":"Environmental uncertainty and changes in digital innovation strategy","volume":"225","author":"D. Jelonel","year":"2023","journal-title":"Procedia Computer Science"},{"issue":"3","key":"pone.0314688.ref024","doi-asserted-by":"crossref","first-page":"439","DOI":"10.2307\/2392832","article-title":"Technological discontinuities and organizational environments","volume":"31","author":"M. L. Tushman","year":"1986","journal-title":"Administrative Science Quarterly"},{"issue":"4","key":"pone.0314688.ref025","first-page":"2324","article-title":"Managerial behavior and digital transformation: The moderating role of equity incentives","volume":"16","author":"Y. Wang","year":"2024","journal-title":"Sustainability"},{"issue":"05","key":"pone.0314688.ref026","first-page":"24","article-title":"Economic policy uncertainty and firm digital strategy: Effects and mechanisms","author":"J. S. Zhu","year":"2023","journal-title":"Journal of Quantitative and Technical Economics"},{"key":"pone.0314688.ref027","volume-title":"Real options: Managing strategic investment in an uncertain world","author":"M. Amram","year":"1999"},{"key":"pone.0314688.ref028","first-page":"301","article-title":"Digital transformation under uncertainty: Evidence from China","volume":"142","author":"Z. Yuan","year":"2024","journal-title":"Journal of Business Research"},{"key":"pone.0314688.ref029","volume-title":"The second machine age: Work, progress, and prosperity in a time of brilliant technologies","author":"E. Brynjolfsson","year":"2014"},{"issue":"2","key":"pone.0314688.ref030","doi-asserted-by":"crossref","first-page":"488","DOI":"10.1108\/JEIM-09-2022-0333","article-title":"The effects of digital transformation on supply chain resilience: A moderated and mediated model","volume":"37","author":"Y. Yuan","year":"2024","journal-title":"Journal of Enterprise Information Management"},{"issue":"3","key":"pone.0314688.ref031","doi-asserted-by":"crossref","first-page":"1242","DOI":"10.1002\/mde.4067","article-title":"Hear all parties: Peer effect of digital transformation on long-term firm investment in China","volume":"45","author":"K. Chang","year":"2024","journal-title":"Managerial and Decision Economics"},{"issue":"7","key":"pone.0314688.ref032","doi-asserted-by":"crossref","first-page":"509","DOI":"10.1002\/(SICI)1097-0266(199708)18:7<509::AID-SMJ882>3.0.CO;2-Z","article-title":"Dynamic capabilities and strategic management","volume":"18","author":"D. J. Teece","year":"1997","journal-title":"Strategic Management Journal"},{"issue":"10\u201311","key":"pone.0314688.ref033","doi-asserted-by":"crossref","first-page":"1105","DOI":"10.1002\/1097-0266(200010\/11)21:10\/11<1105::AID-SMJ133>3.0.CO;2-E","article-title":"Dynamic capabilities: What are they?","volume":"21","author":"K. M. Eisenhardt","year":"2000","journal-title":"Strategic Management Journal"},{"issue":"4","key":"pone.0314688.ref034","doi-asserted-by":"crossref","first-page":"655","DOI":"10.2307\/2937861","article-title":"Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior","volume":"104","author":"J. C. Stein","year":"1989","journal-title":"The Quarterly Journal of Economics"},{"key":"pone.0314688.ref035","first-page":"121104","article-title":"Digital transformation and managerial short-termism: The moderating role of corporate governance","volume":"173","author":"C. Matarazzo","year":"2021","journal-title":"Technological Forecasting and Social Change"},{"issue":"2","key":"pone.0314688.ref036","doi-asserted-by":"crossref","first-page":"391","DOI":"10.1111\/j.1467-937X.2007.00426.x","article-title":"Uncertainty and investment dynamics","volume":"74","author":"N. Bloom","year":"2007","journal-title":"Review of Economic Studies"},{"key":"pone.0314688.ref037","first-page":"121377","article-title":"Environmental uncertainty and corporate technological innovation: Evidence from China","volume":"175","author":"H. Xiong","year":"2022","journal-title":"Technological Forecasting and Social Change"},{"key":"pone.0314688.ref038","first-page":"113719","article-title":"Digital transformation, corporate social responsibility, and financial constraints","volume":"160","author":"Y. Li","year":"2023","journal-title":"Journal of Business Research"},{"issue":"3","key":"pone.0314688.ref039","first-page":"393","article-title":"Credit Rationing in Markets with Imperfect Information","volume":"71","author":"J. E. Stiglitz","year":"1981","journal-title":"The American Economic Review"},{"key":"pone.0314688.ref040","first-page":"125585","article-title":"Environmental regulations and green innovation: The moderating role of firm ownership and labor intensity","volume":"288","author":"S. Ren","year":"2021","journal-title":"Journal of Cleaner Production"},{"key":"pone.0314688.ref041","first-page":"113872","article-title":"Digital transformation, competitive intensity, and firm performance: Evidence from emerging markets","volume":"161","author":"P. Sharma","year":"2023","journal-title":"Journal of Business Research"},{"key":"pone.0314688.ref042","first-page":"574","article-title":"Digital transformation in business and management research: An overview of the current field and future research directions","volume":"123","author":"S. Kraus","year":"2021","journal-title":"Journal of Business Research"},{"issue":"3","key":"pone.0314688.ref043","doi-asserted-by":"crossref","first-page":"1200","DOI":"10.3390\/su16031200","article-title":"Effect of Digital Transformation on Firm Performance in the Uncertain Environment: Transformational Leadership and Employee Self-Efficacy as Antecedents of Digital Transformation","volume":"16","author":"L. Gun","year":"2024","journal-title":"Sustainability"},{"key":"pone.0314688.ref044","doi-asserted-by":"crossref","first-page":"102466","DOI":"10.1016\/j.ijinfomgt.2021.102466","article-title":"Digital transformation in business and management research: An overview of the current status quo","volume":"63","author":"S. Kraus","year":"2022","journal-title":"International journal of information management"},{"key":"pone.0314688.ref045","doi-asserted-by":"crossref","first-page":"889","DOI":"10.1016\/j.jbusres.2019.09.022","article-title":"Digital transformation: A multidisciplinary reflection and research agenda","volume":"122","author":"P. C. Verhoef","year":"2021","journal-title":"Journal of Business Research"},{"issue":"1","key":"pone.0314688.ref046","first-page":"3","article-title":"Antecedents and contingencies of the financial performance effects of R&D spending: A meta-analysis","volume":"33","author":"A. Kock","year":"2016","journal-title":"Journal of Product Innovation Management"},{"issue":"5","key":"pone.0314688.ref047","doi-asserted-by":"crossref","first-page":"1909","DOI":"10.1093\/rfs\/hhq009","article-title":"New evidence on measuring financial constraints: Moving beyond the KZ index","volume":"23","author":"C. J. Hadlock","year":"2010","journal-title":"Review of Financial Studies"},{"issue":"4","key":"pone.0314688.ref048","doi-asserted-by":"crossref","first-page":"1927","DOI":"10.1111\/j.1540-6261.2006.00893.x","article-title":"Industry concentration and average stock returns","volume":"61","author":"K. Hou","year":"2006","journal-title":"The Journal of Finance"},{"issue":"6","key":"pone.0314688.ref049","doi-asserted-by":"crossref","first-page":"1173","DOI":"10.1037\/0022-3514.51.6.1173","article-title":"The moderator\u2013mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations","volume":"51","author":"R. M. Baron","year":"1986","journal-title":"Journal of Personality and Social Psychology"},{"issue":"2","key":"pone.0314688.ref050","doi-asserted-by":"crossref","first-page":"197","DOI":"10.1086\/651257","article-title":"Reconsidering Baron and Kenny: Myths and truths about mediation analysis","volume":"37","author":"X. Zhao","year":"2010","journal-title":"Journal of Consumer Research"},{"issue":"2","key":"pone.0314688.ref051","doi-asserted-by":"crossref","first-page":"197","DOI":"10.1086\/651257","article-title":"Reconsidering Baron and Kenny: Myths and truths about mediation analysis","volume":"37","author":"X. Zhao","year":"2010","journal-title":"Journal of Consumer Research"},{"issue":"4","key":"pone.0314688.ref052","doi-asserted-by":"crossref","first-page":"717","DOI":"10.3758\/BF03206553","article-title":"SPSS and SAS procedures for estimating indirect effects in simple mediation models","volume":"36","author":"K. J. Preacher","year":"2004","journal-title":"Behavior Research Methods, Instruments, & Computers"},{"issue":"3","key":"pone.0314688.ref053","first-page":"1071","article-title":"Digital transformation: A review, synthesis, and opportunities for future research","volume":"45","author":"S. Nadkarni","year":"2021","journal-title":"Management Information Systems Quarterly"},{"issue":"1","key":"pone.0314688.ref054","doi-asserted-by":"crossref","first-page":"17","DOI":"10.1177\/01492063211006458","article-title":"Omitted Variable Bias: Examining Management Research With the Impact Threshold of a Confounding Variable (ITCV)","volume":"48","author":"J. R. Busenbark","year":"2022","journal-title":"Journal of Management"},{"key":"pone.0314688.ref055","doi-asserted-by":"crossref","first-page":"105444","DOI":"10.1016\/j.frl.2024.105444","article-title":"Talking and walking: Corporate digital transformation and government subsidies","volume":"64","author":"X. Fan","year":"2024","journal-title":"Finance Research Letters"}],"container-title":["PLOS ONE"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/dx.plos.org\/10.1371\/journal.pone.0314688","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,12,5]],"date-time":"2024-12-05T19:18:00Z","timestamp":1733426280000},"score":1,"resource":{"primary":{"URL":"https:\/\/dx.plos.org\/10.1371\/journal.pone.0314688"}},"subtitle":[],"editor":[{"given":"Mingming","family":"Li","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"editor"}]}],"short-title":[],"issued":{"date-parts":[[2024,12,5]]},"references-count":55,"journal-issue":{"issue":"12","published-online":{"date-parts":[[2024,12,5]]}},"URL":"https:\/\/doi.org\/10.1371\/journal.pone.0314688","relation":{},"ISSN":["1932-6203"],"issn-type":[{"value":"1932-6203","type":"electronic"}],"subject":[],"published":{"date-parts":[[2024,12,5]]}}}