Can Fintech Pave the way for Urban Innovation?——Empirical Evidence from the Entry of Technology Enterprises
Fintech has emerged as a potent catalyst driving the high-quality development of the real economy,ad-dressing the limitations of traditional financial systems in supporting real economic activities.Drawing on urban panel data and national industrial and commercial enterprise registration information spanning 2006 to 2021,this study empiri-cally examines the impact of urban fintech development on the entry of technology enterprises.Our empirical findings confirm a significant positive relationship between urban fintech advancement and the entry of technology enterprises.Moreover,moderation analysis underscores that effective financial supervision,robust human capital levels,and ad-vanced digital infrastructure positively moderate the impact of fintech on technology enterprise entry.Furthermore,em-ploying a dynamic panel threshold model reveals that fintech's promotion effect on technology enterprise entry strength-ens beyond a certain threshold of the moderating variables.Further heterogeneity analysis unveils that fintech's promo-tion effect on technology enterprise entry is more pronounced in traditionally financial-developed cities,Eastern regions,cities housing 211 universities,locales with high innovation and entrepreneurship index rankings,and those boasting ad-vanced levels of financial technology.This study enriches the understanding of factors influencing technology enterprise entry,offering critical theoretical insights and policy directives to harness fintech effectively in serving the technology in-dustry and charting pathways for urban innovation.
NETL
NSTL
万方数据
