The Impact of Fintech on the Sustainable Development Ability of Enterprises-Based on the Perspective of Shadow Banking of Non-Financial Enterprises
In the post-epidemic era,the sustainable development ability of enterpri-ses is the basis of high-quality economic development,and the development of fin-tech helps to improve the sustainable development ability of enterprises.However,fintech has also aggravated the problem of shadow banking of non-financial enter-prises.In order to study the above problems and their solutions,based on the data of China's A-share listed companies from 2016 to 2021,this paper finds that:first,fin-tech has a significant inverted U-shaped relationship with the sustainable develop-ment ability of enterprises;secondly,the development of fintech will improve the level of shadow banking of non-financial enterprises,thus reducing the sustainable development ability of enterprises;finally,the promotion effect of fintech on the shadow banking of non-financial enterprises is more significant for non-state-owned en-terprises and large-scale enterprises.The research conclusions show that in order to im-prove the sustainable development ability of enterprises,the state should guide the health-y development of fintech,deepen the supervision of shadow banking business,and strengthen the policy support for the development of non-financial enterprises.
FintechSustainable Development Ability of EnterprisesShadow Bank-ing of Non-financial EnterprisesEconomic Disengagement from Reality to Virtuality
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