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Can financial technology enhance corporate investment efficiency? Evidence from the COVID-19 pandemic

Author

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  • Hu, Lei
  • Zhu, Ziyan
  • Dong, Liang

Abstract

We quantify the FinTech development level by textual analysis. The results show that the intensification of the COVID epidemic adversely affects corporate investment efficiency, but the development of FinTech mitigates such a negative effect by alleviating financing constraints.

Suggested Citation

  • Hu, Lei & Zhu, Ziyan & Dong, Liang, 2024. "Can financial technology enhance corporate investment efficiency? Evidence from the COVID-19 pandemic," Economics Letters, Elsevier, vol. 243(C).
    • Handle: RePEc:eee:ecolet:v:243:y:2024:i:c:s0165176524003951
    DOI: 10.1016/j.econlet.2024.111911
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    More about this item

    Keywords

    Financial technology; COVID-19 pandemic; Investment efficiency; Financing constraint;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General

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