数字金融激励中小企业科技创新研究
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摘要:
利用创业板2011-2020年上市公司作为样本,实证检验了数字金融对中小企业科技创新的激励效应及传导逻辑.结果发现:数字金融显著提升中小企业的科技创新水平,且具有结构性特征和长期效应.作用机制检验显示数字金融主要通过缓解中小企业的融资约束实现其对科技创新水平的激励作用.异质性检验表明,数字金融的激励效应存在地区异质性和行业异质性,具体来说,东部和中部地区数字金融的激励效应更为显著,而且数字金融对高科技企业具有较强的正向激励效应.
This study empirically investigates the impact and transmission mechanism of digital finance on technological innovation in SMEs,using a sample of companies listed on the Growth Enterprise Market from 2011 to 2020.The findings reveal that digital financing greatly enhances the level of technological innovation in SMEs,displaying both structural characteristics and long-term effects.The analysis of the mechanism test shows that digital finance primarily stimulates technological innovation by alleviating their financing constraints faced by SMEs.Heterogeneity test demonstrate regional and industry disparities in the incentive effect of digital finance.Specifically,the eastern and central regions exhibit more pronounced effects of digital finance,particularly in high-tech enterprises where it exerts a stronger positive influence.
作者:
任经辉 李爱真
Ren Jinghui;Li Aizhen(Institute of Intelligent Social Issues,Henan Institute of Technology,Xinxiang 453003,China;School of Economics,Henan Institute of Technology,Xinxiang 453003,China)
机构地区:
河南工学院智能化社会问题研究所 河南工学院经济学院
出处:
《betway官方app 学报:自然科学版》 CAS 北大核心 2023年第5期74-81,I0007,I0008,共10页
Journal of Henan Normal University(Natural Science Edition)
基金:
国家社基重大项目(21&ZD084) 河南省重点研发与推广专项(软科学)(222400410157)。
关键词:
数字金融 中小企业 科技创新 融资约束
digital finance small and medium-sized enterprises technology innovation financing constraints
分类号:
F276.3 [经济管理—企业管理]
