168 Yakymova, L., Novotná, A., Kuz, V., & Tamándl, L. (2022). Measuring industry digital transformation with a composite indicator: A case study of the utility industry. Journal of International Studies, 15(1), 168-180. doi:10.14254/2071- 8330.2022/15-1/11 Measuring industry digital transformation with a composite indicator: A case study of the utility industry Larysa Yakymova Department of Economic and Mathematical Modelling, Yuriy Fedkovych Chernivtsi National University, Ukraine l.yakimova@chnu.edu.ua ORCID 0000-0003-1515-6975 Andrea Novotná Institute of Technology and Business in České Budějovice, Research Department of Economics and Natural Resources Management, Czech Republic 27509@mail.vstecb.cz ORCID 0000-0001-6670-1852 Vasyl Kuz Department of Accounting, Analysis and Audit, Yuriy Fedkovych Chernivtsi National University, Ukraine v.kuz@chnu.edu.ua ORCID 0000-0002-6008-7203 László Tamándl Széchenyi István University, Hungary tamandl@sze.hu ORCID 0000-0003-1280-2767 Abstract. Climate change, urban sprawl, a global pandemic, and the general trend of digitizing economies are driving the need for digital transformation of utilities. Policymakers of industry digital transformation need some aggregated metric that captures the essence of this multidimensional concept, identifies the pros and cons of current policies, and guides future directions based on cross-country benchmarking. This study develops the Industry Digital Transformation Index for the utility industry (IDTIu) as a composite indicator. IDTIu provides an aggregate score for the digital transformation of the national utility industry based on 31 indicators grouped into 8 sub-indices. IDTIu scores were calculated for 34 Received: June, 2021 1st Revision: March, 2022 Accepted: March, 2022 https://doi.org/ 10.14254/2071- 8330.2022/15-1/11 Journal of International Studies Scientific Papers © Foundation of International Studies, 2022 © CSR, 2022