Can FinTech improve corporate investment efficiency? Evidence from China

Panpan Lv and Hu Xiong

Research in International Business and Finance, 2022, vol. 60, issue C

Abstract: Exploiting a large sample of Chinese listed companies and provincial panel data over the period from 2011 to 2018, this study investigates whether and how FinTech improves the investment efficiency of listed firms. We find that corporate investment efficiency is positively associated with the level of FinTech, and this relation is concentrated in areas with low urbanization rates and low marketization, indicating the inclusive nature of FinTech. Moreover, both diversified ownership of enterprises and the separation of ownership and management significantly strengthen the positive association, which reflects a complementary effect between the influence of FinTech on corporate investment efficiency and the two governance mechanisms.

Keywords: FinTech; Digitization of finance; Corporate investment efficiency (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (37)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0275531921001926
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:60:y:2022:i:c:s0275531921001926

DOI: 10.1016/j.ribaf.2021.101571

Access Statistics for this article

Research in International Business and Finance is currently edited by T. Lagoarde Segot

More articles in Research in International Business and Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().