The Impact of Corporate FinTech Level on Stock Volatility

Xuehong Deng ()
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Xuehong Deng: Guangdong Ocean University

A chapter in Proceedings of the 2026 11th International Conference on Social Sciences and Economic Development (ICSSED 2026), 2026, pp 1021-1029 from Springer

Abstract: Abstract Based on panel data of A-share listed companies from 2010 to 2023, this paper empirically investigates the impact of corporate FinTech level on stock volatility. By constructing a corporate FinTech index through textual analysis and employing a two-way fixed effects model to control for individual and time effects, the study finds a significant negative correlation between corporate FinTech level and stock volatility, indicating that FinTech development helps curb abnormal stock price fluctuations. This conclusion remains robust after a series of robustness tests. Mechanism analysis reveals that FinTech reduces stock volatility primarily through three channels: improving information disclosure quality, optimizing capital allocation efficiency, and enhancing corporate risk governance capability. Heterogeneity analysis further shows that the above effects are more pronounced in non-state-owned enterprises, high-tech industries, and regions with developed financial markets. This study provides micro-level evidence for understanding the role of FinTech in stabilizing capital markets and offers practical implications for promoting corporate digital transformation and improving financial regulatory policies.

Keywords: corporate FinTech level; stock volatility; two-way fixed effects model (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6239-701-9_105

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DOI: 10.2991/978-94-6239-701-9_105

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