Digital Finance Development,Characteristics of Executive Background,and Enterprise Innovation Vitality
This paper selects financial data of Chinese SME Board and China growth enterprise market listed companies from 2011 to 2018 as the research sample to explore the relationship between digital finance development and enterprise innovation vitality,as well as the moderating effects of executives'R&D background and tenure back-ground.Results show that digital finance development can positively stimulate enterprise innovation vitality,with its coverage breadth,usage depth,and digitalization degree all having promoting effects on enterprise innovation vitali-ty.Concurrently,under ceteris paribus conditions,executives'R&D background strengthens the positive impact of digital finance development on enterprise innovation vitality,while executives'tenure background negatively regulate the impact of digital finance development on enterprise innovation vitality.Further analysis reveals that the modera-ting effect of executive background characteristics on the relationship between digital finance and enterprise innova-tion vitality is significant in non-state-owned enterprises but not significant in state-owned enterprises.
digital finance developmententerprise innovation vitalitycharacteristics of executive background
NETL
NSTL
万方数据
