摘要
金融科技的创新发展优化了金融服务功能和资源配置效果,从而为夯实和壮大实体经济根基拓展了新的路径。文章以2011—2019年中国A股上市公司数据集为基础,采用固定效应模型实证检验了金融科技对实体企业未来主业发展的影响及其作用机制。研究发现,金融科技促进了实体企业未来主业业绩的增长,其激励效果主要通过降低企业融资成本和增强企业经营效率两个渠道实现。进一步研究发现,金融科技的覆盖广度和使用深度是提升企业未来主业业绩的重要推动力,且总体上对东部地区企业的驱动效果更明显。
The innovative development of fintech has optimized financial service functions and resource allocation effects.Thereby opening new paths for consolidating and strengthening the foundation of the real economy.This article uses the 2011—2019 China A-share listed company data to empirically test the impact of fintech on the future main performance of entity companies and its mechanism.The study found that fintech has promoted the growth of the future main performance of entity enterprises.Its incentive effect is mainly achieved through two channels:reducing corporate financing costs and enhancing corporate operating efficiency.Further research has found that the breadth of coverage and the depth of use of fintech are important driving forces for improving the future main performance of entity enterprises.The promotion effect on enterprises in the eastern region is generally more obvious.
作者
杜金岷
韦施威
刘立夫
Du Jinmin;Wei Shiwei;Liu Lifu(College of Economics,Jinan University,Guangzhou 510632,China;“One Belt One Road”and Guangdong-Hong Kong-Macao Greater Bay Area Research Institute,Jinan University,Guangzhou 510632,China)
出处
《当代经济管理》
CSSCI
北大核心
2021年第11期80-89,共10页
Contemporary Economic Management
基金
国家社会科学基金项目《企业杠杆率影响技术创新的异质性结构、多维机制与内外协同治理研究》(20BJY035)
广东省哲学社会科学规划项目《企业金融化对研发创新的影响机理与治理模式研究》(GD19CYJ20)。
关键词
金融科技
实体企业
未来主业业绩
影响机制
资源配置效率
融资成本
fintech
entity enterprise
future main business performance
influence mechanism
resource allocation efficiency
financing cost
