[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/taf/ecinnt/v33y2024i7p979-1001.html
   My bibliography  Save this article

Can the development of digital finance stimulate enterprise innovation? Empirical evidence from China

Author

Listed:
  • Kai Zhao
  • Haonan Shan
  • Zeping Chen
  • Wanshu Wu
Abstract
Based on the data of China A-share listed enterprises, this paper examines the actual effect and mechanism of the development of digital finance on different innovation behaviors of enterprises, by using the panel data model and regression-based mediation analysis. It is found that the development of digital finance not only promotes the R&D investment of enterprises but also improves the quantity and quality of enterprise innovation output. The incentive effect of digital finance on enterprise R&D investment is stronger than that on innovation output, while the incentive effect of digital finance on enterprise breakthrough innovation is stronger than that of incremental innovation. Both the ‘broadening’ and the ‘deepening’ of digital finance have a significant positive effect on enterprise innovation, while the ‘digitalization degree’ of digital finance has no significant effect on enterprise innovation, and even may hinder the improvement of innovation quality. The incentive effect of digital finance on the innovation output of state-owned enterprises is reflected in ‘quantity’, while the incentive effect on innovation of non-state-owned enterprises is reflected in ‘quality’. Digital finance can stimulate enterprise innovation by easing the financing constraints of enterprises, optimizing the government subsidy system, and improving the business environment.

Suggested Citation

  • Kai Zhao & Haonan Shan & Zeping Chen & Wanshu Wu, 2024. "Can the development of digital finance stimulate enterprise innovation? Empirical evidence from China," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 33(7), pages 979-1001, October.
    • Handle: RePEc:taf:ecinnt:v:33:y:2024:i:7:p:979-1001
    DOI: 10.1080/10438599.2023.2266376
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10438599.2023.2266376
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10438599.2023.2266376?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:ecinnt:v:33:y:2024:i:7:p:979-1001. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/GEIN20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.