Digital finance, government regulation, and corporate capital market efficiency

Kefen Mou and Bing Xu

Finance Research Letters, 2024, vol. 68, issue C

Abstract: This study explores how digital finance affects corporate capital market efficiency, especially after the new Securities Law. Using data from A-share companies listed on Shanghai and Shenzhen exchanges (2017–2022), we find digital finance significantly boosts capital market efficiency, more so after the new law. Property rights and location also influence efficiency. Both media attention and green innovation mediate this process, enhancing efficiency.

Keywords: Digital finance; Government regulation; Capital market efficiency; Media attention; Green innovation (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:68:y:2024:i:c:s154461232401002x

DOI: 10.1016/j.frl.2024.105972

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