Digital Inclusive Finance and Technological Innovation of New Energy Enterprises
Technological innovation is the key to global competitive edge for China's new energy enterprises,and digital inclu-sive finance provides financial support for the technological innovation activities of new energy enterprises.And it is of great practical significance to explore the impact of digital inclusive finance on the technological innovation of new energy enter-prises.Based on the data of A-share listed new energy enterprises in Shanghai and Shenzhen stock markets from 2011 to 2020,we made an empirically study on the effect and mechanism of the influence of digital inclusive finance on the technological innovation of new energy enterprises using the fixed effect model and the intermediary effect model.The results show that digital inclusive finance significantly promotes the technological innovation of new energy enterprises by alleviating external financing constraints and reducing internal financial risks.Further analysis shows that the effect of digital inclusive finance on enterprise innovation is heterogeneous to different enterprises,and its impact on non-state-owned enterprises and smaller enterprises is stronger.
digital inclusive financenew energy enterprisestechnological innovationfinancing constraintsfinancial risk
万方数据
维普
