The integration of technology and finance and corporate innovation boundary
Jian Huang,
Cheng Guo and
Siyu Yan
Finance Research Letters, 2025, vol. 78, issue C
Abstract:
This study investigates how integrated technology-finance initiatives influence corporate innovation, focusing on China's Pilot Policy Promoting the Integration of Technology and Finance (PPPITF) from 2010 to 2022. Analyzing over 19,000 firm-year observations, the research finds that PPPITF significantly boosts innovation productivity in pilot regions. Mediation analysis reveals that the policy mitigates financing constraints and accelerates digital transformation, fostering synergies that enhance organizational innovation capabilities. Through causal relationships validated by rigorous testing, the study highlights how integrated policy frameworks can overcome barriers to financial accessibility and technological development, offering valuable insights for policymakers aiming to stimulate innovation in emerging markets.
Keywords: Technology-finance integration; Corporate innovation; Financial constraints; Digitalization; Policy evaluation (search for similar items in EconPapers)
JEL-codes: G18 L25 O31 O38 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:78:y:2025:i:c:s1544612325003988
DOI: 10.1016/j.frl.2025.107135
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