Digital Finance Boosts the Development of Specialized and Innovative "Little Giant" Enterprises
Specialized and innovative"little giant"enterprises are the vanguard of the development of small and medium-sized enterprises,and the source and main force to promote social and economic development and technological innovation.However,due to the enterprise's own situation,macroeconomic environment and policy implementation results,the development of special-ized and innovative"little giant"enterprises still faces financing constraints and other problems.It is of great practical signifi-cance and theoretical value to study digital finance to promote the development of specialized and innovative"little giant"enter-prises.Based on the 2016-2021 China Digital Inclusive Financial Index and the innovative development level of specialized and ultra-new"little giants"enterprises,this paper empirically analyzes the impact of digital finance on the innovative development of specialized and ultra-new"little giants"enterprises by using OLS model.The research finds that the development of digital fi-nance has effectively promoted the innovative development of specialized and innovative"little giant"enterprises in general,among which the promotion of the refined development of specialized and innovative"little giant"enterprises is the most signifi-cant,followed by the novelization and characte ristic is the last.Therefore,it is necessary to cultivate a multi-level and stable mar-ket structure of specialized and innovative"little giant"enterprises,accelerate the cooperation process between specialized and in-novative"little giant"enterprises in the industrial chain and upstream and downstream enterprises,deepen digital transformation,so that specialized and innovative"little giant"enterprises can better allocate resources to research and development and innova-tion in subdivisions,and improve profitability,financing and R&D output.
Digital financeSpecialized and innovative"little giant"enterprisesInstrumental variable method
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