Risk Evaluation and Cause Analysis of Digital Assets in Z Enterprise under the Background of Digital Transformation

Abstract

With the in-depth advancement of digital transformation, digital assets have become core strategic resources for enterprises, but they also face diverse risks such as evaluation, investment, maintenance, and financing. This study focuses on Z Enterprise, a representative enterprise in the digital transformation process, to conduct in-depth research on digital asset risk evaluation and cause analysis. Through a combination of research methods including questionnaire surveys, Analytic Hierarchy Process (AHP), fuzzy evaluation method, correlation analysis, and regression analysis, this study identifies the types of digital asset risks faced by Z Enterprise, verifies the impact of risk management dimensions on risk response effectiveness, and clarifies the current risk level and underlying causes of the enterprise. The results show that: (1) The questionnaire used in the study has high reliability (Cronbach’s α = 0.949) and validity (KMO = 0.949), ensuring the credibility of the data; (2) Z Enterprise faces four major digital asset risks: evaluation risk, investment risk, maintenance risk, and financing risk, among which investment risk (normalized score = 0.257) and maintenance risk (normalized score = 0.255) are the most prominent; (3) Digital asset evaluation risk management, investment risk management, maintenance risk management, and financing risk management all have a significant positive impact on the effectiveness of digital asset risk response (p < 0.01); (4) The comprehensive digital asset risk level of Z Enterprise is rated as "poor" (comprehensive score = 2.35), and the main causes include difficulties in financial statement disclosure, lack of comparison benchmarks for asset value confirmation, insufficient response to asset fluctuations, and abnormal financing compatibility structure. This study provides a scientific basis for Z Enterprise to optimize digital asset risk management strategies and offers reference for similar enterprises in the same industry to cope with digital asset risks during digital transformation.