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Integration of technology and finance with breakthroughs in enterprise digital technology

Author

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  • Wu, Qiwei
  • Wu, Zheng
  • Pang, Jing

Abstract

This study explores the influence of financial technology on corporate digital technological breakthroughs, focusing on the Pilot Program Combining Technology and Finance (PPCTF), which has been gradually implemented in China. Using data from A-share listed companies from 2008 to 2022, we used a difference-in-differences approach to investigate the specific impacts and mechanisms by which PPCTF influences corporate digital technological breakthroughs. Results indicate that PPCTF considerably promotes corporate digital technological breakthroughs. We perform several sensitivity analyses to validate the results’ robustness. Mechanism analysis reveals that PPCTF establishes a long-term mechanism for promoting corporate digital technological breakthroughs by improving corporate human capital and digital infrastructure.

Suggested Citation

  • Wu, Qiwei & Wu, Zheng & Pang, Jing, 2025. "Integration of technology and finance with breakthroughs in enterprise digital technology," Finance Research Letters, Elsevier, vol. 74(C).
    • Handle: RePEc:eee:finlet:v:74:y:2025:i:c:s1544612324017410
    DOI: 10.1016/j.frl.2024.106712
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