FinTech and Corporate Innovation Efficiency

Yantong Wang ()
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Yantong Wang: Southwestern University of Finance and Economics

A chapter in Proceedings of the 2026 4th International Conference on Digital Economy and Management Science (CDEMS 2026), 2026, pp 549-555 from Springer

Abstract: Abstract Based on data from Shanghai and Shenzhen A-share listed companies from 2012 to 2023, this paper empirically examines the impact of FinTech on innovation efficiency. The findings are as follows: (1) The development of FinTech significantly improves corporate innovation efficiency, a conclusion that remains valid after a series of robustness tests. (2) Mechanism analysis indicates that FinTech primarily enhances corporate innovation efficiency by reducing corporate debt financing costs and promoting supply chain digitalization. (3) Heterogeneity analysis reveals that the efficiency-enhancing effect of FinTech is more pronounced in enterprises without material weaknesses and in those located in eastern and central regions. This study not only deepens the understanding of the micro-level mechanisms through which FinTech empowers corporate innovation from an “efficiency” perspective but also provides empirical evidence for differentiated policymaking and corporate digital transformation practices.

Keywords: FinTech; Corporate Innovation Efficiency; Debt Financing Costs; Supply Chain Digitalization (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6239-699-9_59

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DOI: 10.2991/978-94-6239-699-9_59

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