Financial Ecosystem, Core Competency Construction, and the Growth of Enterprises

Changlin Ji, Xingnan Guo and Yaning Zhang

Chapter 40 in Internet Finance and Digital Economy:Advances in Digital Economy and Data Analysis Technology, 2023, pp 547-556 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Based on the unbalanced panel data of 35 medium and large-sized cities from 2015 to 2020, this paper empirically examines the relationship among the financial ecology environment, core competence construction, and the growth of enterprises, focusing on the impact of the improvement of the financial ecology environment on the resource allocation for enterprise development. It is found that a favorable financial ecology environment can induce enterprises to invest more resources in the construction of core competencies. And the construction of core competencies is a continuous process, which shows a lagging effect on the growth of enterprises. Therefore, formal institutional reforms in the political, economic, and social fields lead to the coordinated development and improvement of various aspects, such as the quality of government and social development environments, the active promotion of which can reduce the uncertainty of development and reduce transaction costs. So companies can focus on building core competencies to a larger extent.

Keywords: Internet Economy; Online Finance; Financial Engineering; Big Data; Blockchain; Supply Chain; E-commerce (search for similar items in EconPapers)
JEL-codes: G2 O33 (search for similar items in EconPapers)
Date: 2023
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