Effects of digital finance on enterprise total factor productivity: Evidence from the perspective of innovation level

Xiaoxu Guo and Yihan Wang

Finance Research Letters, 2025, vol. 72, issue C

Abstract: This study focuses on A-share listed companies in China from 2012 to 2022, aiming to analyze how digital finance affects the total factor productivity (TFP) of enterprises. The research reveals that digital finance has a significant effect on enhancing enterprise TFP; compared with state-owned enterprises, digital finance demonstrates stronger efficacy in boosting TFP among non-state-owned enterprises; furthermore, digital finance further promotes the growth of enterprise TFP by stimulating their innovation vitality.

Keywords: Digital finance; Total factor productivity of enterprises; Enterprise innovation level (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:72:y:2025:i:c:s1544612324015988

DOI: 10.1016/j.frl.2024.106569

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