Digital Finance,Technological Innovation and Enterprise Value:Analysis of A-share Manufacturing Enterprises
With the rapid development of the digital economy,the role of digital finance in supporting the inte-gration and development of the digital economy and the real economy is becoming increasingly significant. The development of digital finance can effectively improve the efficiency of financial services for the manufacturing industry. This paper uses the fixed effect model to empirically analyze the data of A-share manufacturing enter-prises from 2011—2021 . The research shows that the development of digital finance can significantly enhance the value and technological innovation of manufacturing enterprises. The heterogeneity test results found that digital finance has a significant promoting effect on the value enhancement of non-state-owned enterprises and manufacturing enterprises in the eastern and western regions.
Digital financeTechnological innovationEnterprise valueEnterprise heterogeneity
万方数据
