How digital marketing capabilities mitigate the impact of financing constraints on investment performance in industrial enterprises

Jialin Li

Finance Research Letters, 2025, vol. 75, issue C

Abstract: Using data from listed companies in China's industrial sector spanning the years 2011 to 2022, this paper empirically verifies the negative impact of financing constraints on corporate investment performance and reveals the crucial role of digital marketing capabilities in mitigating this negative effect. The study also finds that the quality of internal control plays an important moderating role between financing constraints and investment performance, while digital marketing capabilities significantly enhance corporate investment performance.

Keywords: Financing constraint; Digital marketing capability; Investment performance (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325001473

DOI: 10.1016/j.frl.2025.106882

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