Digital Finance Development and Corporate Innovation Vitality

Shangqing Yang () and Dongfang Qiu
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Shangqing Yang: Nanjing University of Aeronautics and Astronautics, College of Economics and Management
Dongfang Qiu: Nanjing University of Aeronautics and Astronautics, College of Economics and Management

A chapter in Proceedings of the 2024 3rd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2024), 2024, pp 124-131 from Springer

Abstract: Abstract The ease of enterprise financing made possible by the development of digital finance can partially address the issue of “difficult and expensive financing” for enterprises and offer a fresh approach to meeting the funding needs of R&D innovation and stimulating the innovation vitality of enterprises. Based on the data of GEM-listed companies in 2017-2021, this paper uses the time and industry two-way fixed effect model to empirically examine the relationship between digital finance development and corporate innovation vitality, and it analyses the moderating effect of senior executives’ overseas background on that relationship. Combined with literature research and empirical analysis, the study concludes that the development of digital finance significantly contributes to stimulating the innovation vitality of enterprises, and the overseas background of senior executives plays a positive moderating role in the relationship between digital finance development and corporate innovation vitality. On the basis of the aforementioned empirical research, recommendations are provided for how to support the steady development of digital finance and promote the all-round development of enterprises at the government and enterprise levels.

Keywords: Digital finance; management; innovation vitality; overseas background of senior executives (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-548-5_16

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