The Impact of Urban FinTech Development on the Sustainability of Corporate Innovation
Enhancing corporate innovation sustainability is essential for improving the long-term effectiveness of innovation and overcoming the"low-quality and low-efficiency"innovation dilemma.Using data from A-share listed companies in Shanghai and Shenzhen,this paper examines the impact of urban fintech development on corporate innovation sustainability and its underlying mechanisms.The findings indicate that urban fintech develop-ment positively influences corporate innovation sustainability.Mechanism analysis reveals that fintech empowerment promotes sustained corporate innovation by alleviating financing constraints,curbing managerial short-sightedness,and fostering a fair competitive market environment,thereby enhancing innovation persistence.Heterogeneity analy-sis shows that fintech development has a more pronounced effect on innovation persistence in high-tech and non-state-owned enterprises.This paper offers insights for advancing financial technology development,strengthening institutional support for sustained corporate innovation,and promoting the construction of an innovation-driven e-conomy.
万方数据
维普
