Impact of Digital Finance on Corporate Efficient: Evidence from Empirical Research in China
DOI:
https://doi.org/10.54691/bcpbm.v15i.219Keywords:
Digital Finance; Enterprise Investment Efficiency; Financialization of Enterprises.Abstract
Based on the annual corporate data of Shanghai and Shenzhen A-shares from 2011 to 2018 and the Digital Financial Inclusion Index of Peking University, this paper empirically examines the impact of China's digital finance development on the investment efficiency of enterprises. The research finds that: the development of digital finance reduces the investment efficiency of enterprises. This may be due to the development of digital finance leading to the financialization of enterprises. This paper puts forward how to guide digital finance in a good direction to influence the investment efficiency of enterprises.
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