Digital inclusive finance plays a guiding and promoting role in the digitalization of enterprises.This article com-pares city-level digital inclusive finance data from 2011 to 2021 with data from listed companies in China,and takes a closer look at the impact of digital inclusive finance and corporate digital transformation.The results show that the development of comprehen-sive digital finance has a significant driving effect on the digital transformation of enterprises,and there is a threshold effect between the non-linear influence between the two,which is most evident in state-owned enterprises,small and medium-sized enterprises and high-tech enterprises.Further research on the transmission mechanisms of both shows that digitally inclusive finance supports companies'digital transformation through three channels:easing financing constraints,optimizing financial mismatches,and in-creasing R&D investments.Based on this,this article proposes policy recommendations for promoting digital transformation of enter-prises by providing digital inclusive financial services to the real economy.
关键词
数字普惠金融/企业数字化转型/面板固定效应模型/融资约束/门槛效应/金融错配/研发投入/数实融合
Key words
digital financial inclusion/digital transformation of enterprises/panel fixed-effect model/financing con-straints/threshold effect/financial mismatches/R&D investments/digital real fusion
万方数据