The Digital Inclusive Finance and Enterprise Innovation: Evidence from A-share Market

DOI

10.2991/978-94-6463-054-1_13How to use a DOI?

Keywords

Digital inclusive finance; Enterprise innovation; Financing constraints

Abstract

In China, the integration of digital technology and finance has gradually formed a digital supply mode of inclusive finance, which alleviates the financing limitations of small and medium-sized businesses to a certain extent and is significant for enterprise innovation activities that need financial support. Under the National Innovation-driven Development Strategy, it is particularly meaningful to evaluate whether digital inclusive finance can foster company innovation. This article empirically evaluates the impact of digital inclusive finance on firm innovation and development using data from all listed companies on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2011 to 2018 together with the city level digital inclusive finance index. The result shows how digital inclusive financing may support businesses’ innovative processes, and its role in promoting innovation differs among enterprises of different scales, but such heterogeneity effect can be absorbed by industry effect and time effect. The result of this paper sheds lights on the role of digital inclusive finance in improving enterprise performance by solving the financing dilemma of them, and according to the empirical results, this paper suggests that the support for digital inclusive finance should be further improved in order to promote the good and healthy development of the real economy, which refers to the part of a country’s economy that produces goods and services, rather than the part that consists of financial services such as banks and stock markets.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Bowen Liu
AU  - Xin Wen
AU  - Yufan Zhang
AU  - Xiaomeng Zhong
PY  - 2022
DA  - 2022/12/14
TI  - The Digital Inclusive Finance and Enterprise Innovation: Evidence from A-share Market
BT  - Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
PB  - Atlantis Press
SP  - 101
EP  - 111
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-054-1_13
DO  - 10.2991/978-94-6463-054-1_13
ID  - Liu2022
ER  -