Digital Finance,Financing Constraints and Corporate Sustainability Performance
How digital finance can better empower micro enterprises is an important issue in the current deep integration of digital financial system and real enterprises.Selecting the data of Shanghai and Shenzhen A-share enterprises from 2011 to 2022,the study empirically examines the relationship between digital finance and the sustainable development performance of enterprises and the mechanism of the relationship between digital finance and the sustainable development performance of enterprises by utilizing the financial performance and environmental performance to measure the sustainable development performance of enterprises.It is found that digital finance significantly improves both financial and environmental performance as well as the level of corporate sustainability performance.Further in the mechanism test,it is found that digital finance promotes corporate sustainability performance by alleviating corporate financing constraints,and there are property rights and regional differences in the impact of digital finance on corporate sustainability performance.This study enriches the theory of the effective integration of digital finance and real enterprises,and provides decision-making reference for promoting the construction of ecological civilization and achieving the goal of"double carbon"in China.
Digital FinanceFinancial PerformanceEnvironmental PerformanceFinancing ConstraintsSustainable Development Performance
万方数据
维普
