Whether the Development of Banking Fintech Can Promote the Digital Transformation of Enterprises: A Study Based on Financing Constraints and Innovation Incentive Mechanism
Whether the Development of Banking Fintech Can Promote the Digital Transformation of Enterprises: A Study Based on Financing Constraints and Innovation Incentive Mechanism
YU Maomao1, LU Xiaoqi2
1. School of International Economics and Trade, University of International Business and Economics, Beijing 100029, China; 2. Institute of Economics, Jiangxi Academy of Social Sciences, Nanchang 330077, China
Abstract Based on the data of A-share listed companies in the Shanghai and Shenzhen stock markets from 2013 to 2022, this study investigates the impact of financial technology development on the digital transformation of enterprises. The study has shown that the improvement of bank financial technology level can significantly promote the digital transformation level of credit enterprises. Heterogeneity analysis indicates that the above effect is more significant for the samples of non-state-owned enterprises, manufacturing enterprises, non-high-tech enterprises, non-state-owned banks and outlets with high competition degree. Further mechanism analysis shows that the improvement of bank financial technology level can alleviate corporate financing constraints by improving the availability of credit funds and preventing maturity mismatching between “ short-term loans and long-term investments ”. At the same time, it can significantly solve the problem of information asymmetry between banks and enterprises, and enhance the willingness of enterprises to perform digital transformation by enhancing research and development strength and efficiency. This conclusion provides empirical evidence and ideas for promoting banks’ fintech empowerment to help enterprises’ digital transformation and accelerate the formation of new quality productivity.
YU Maomao,LU Xiaoqi. Whether the Development of Banking Fintech Can Promote the Digital Transformation of Enterprises: A Study Based on Financing Constraints and Innovation Incentive Mechanism. Economic Survey, 2024, 41(3): 0134.
2024, Vol. 41 
