With the accelerated evolution of a new generation of digital technologies represented by artificial intelligence，blockchain，cloud computing，and big data，new business forms，new organizations，new models of the digital economy are booming around the world. The Chinese government has attached great importance to the cultivation and development of the digital economy in recent years. #br#The development and expansion of the digital economy and the promotion of the digital transformation of market entities have become an unstoppable development trend. Since the 13th Five-Year Plan，the Chinese government has successively introduced and implemented a package of policies and measures aimed at promoting digital transformation，such as the Internet Power，Broadband China，and the "Internet +" Action Plan，big data，artificial intelligence and blockchain. Especially the 14th Five-Year Plan for the National Economic and Social Development of the Republic of China and the Outline of the 2035 Vision Goal focuses on promoting the deep integration of the digital economy and the real economy and creating a good digital ecology. This shows that digitalization is playing an irreplaceable role in building a new power engine and promoting industrial transformation and upgrading. As the most representative micro-subjects in the economic system，enterprises play an important mission in promoting digital industrialization and industrial digitization. For this reason，it is worth asking how much market value companies can create by implementing costly digital transformation strategies，and whether there are differences in the value created by companies with different attributes through digital transformation. Can digital transformation affect enterprise value creation through indirect mechanisms such as backfeeding technological innovation，improving the allocation of factors，and reducing business risks? It is necessary to systematically analyze and discuss all the above-mentioned issues to objectively judge the pros and cons of the digital transformation of enterprises. In view of this，this article takes Shanghai and Shenzhen listed companies as the research object，clarifies the internal relationship between digital transformation and corporate risk taking through a combination of theoretical analysis and empirical testing. It explores the heterogeneous characteristics and mechanisms of digital transformation affecting corporate risk taking so as to deepen the theoretical understanding of the economic consequences of the digital transformation of micro entities under the background of the Chinese system，and provide a scientific reference for mobilizing the enthusiasm of enterprises for digital transformation and stimulating the vitality of market entities.#br#Based on literature and theoretical analysis，this article starts with the digital transformation of micro-economic entities，examines the mechanism path through which digital transformation affects corporate risk-taking. Based on the data of Chinese listed enterprises from 2007 to 2019，this paper collects the key words of "digital transformation" in the enterprise annual report with the help of crawler technology，creatively depicts the intensity of enterprise digital transformation，and empirically tests the impact of digital transformation on enterprise risk taking and its channel mechanism. It is found that the digital transformation of enterprises has an important impact on the level of enterprise risk. Specifically，the digital transformation of enterprises can significantly increase the level of risk-taking，and achieve an increase in their own financial stability. The heterogeneity test results show that the digital transformation of enterprises has a significant effect on the risk-taking level of state-owned enterprises and non-state-owned enterprises，especially for state-owned enterprises，and it also has a significant positive effect on the improvement of financial stability. It does not show the characteristics of differentiation; while the digital transformation of enterprises has a significant role in promoting the level of risk-taking of high-tech companies，but does not have a statistically significant impact on the level of risk-taking of non-high-tech companies; digital transformation has a positive effect on the financial stability of these two types of companies，but it has not shown significant asymmetric effects. From the perspective of channel mechanism identification and inspection，the digital transformation of enterprises can effectively improve the level of internal control of the enterprise，reduce the environmental uncertainty faced by the enterprise，and improve the profitability of the enterprise. The above findings and conclusions help enterprises improve the level of enterprise risk acceptance，and at the same time improve their financial stability. It is suggested that future research should further find out the more direct and effective mdiated variables connecting the application of digital technology and the level of enterprise risk taking to open the black box between the two，and conduct deeper research on the transmission mechanism.#br#