IDEAS home Printed from https://ideas.repec.org/a/hin/jjmath/2882113.html
   My bibliography  Save this article

Digital Finance, Financing Constraint and Enterprise Financial Risk

Author

Listed:
  • Zhaolin Wang
  • Miaochao Chen

Abstract

With the rapid development of the digital economy, digital finance, as a financial innovation combining Internet information technology with traditional finance, plays an essential role in the financial risk of microenterprises and macroeconomic operations. In this paper, the digital financial inclusion index at the provincial level is matched with the microdata of listed companies in Shanghai and Shenzhen stock markets. And, the panel data from 2011 to 2020 are set up from the theoretical and empirical analysis of digital finance on the impact of enterprise financial risk and its mechanism. Firstly, the development of digital finance in China has significantly reduced enterprise financial risk. In order to control the endogeneity, the Bartik instrumental variable is used to select the instrumental variable. Secondly, financing constraint is the function mechanism of digital finance to reduce enterprise financial risk. Thirdly, for enterprises with low debt levels and enterprises located in the eastern region, digital finance plays a more critical role in reducing financial risk.

Suggested Citation

  • Zhaolin Wang & Miaochao Chen, 2022. "Digital Finance, Financing Constraint and Enterprise Financial Risk," Journal of Mathematics, Hindawi, vol. 2022, pages 1-9, March.
    • Handle: RePEc:hin:jjmath:2882113
    DOI: 10.1155/2022/2882113
    as

    Download full text from publisher

    File URL: http://downloads.hindawi.com/journals/jmath/2022/2882113.pdf
    Download Restriction: no
    File URL: http://downloads.hindawi.com/journals/jmath/2022/2882113.xml
    Download Restriction: no
    File URL: https://libkey.io/10.1155/2022/2882113?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wang, Dong & Wang, Ziwei & Cai, Wanhuan & Wu, Qiuxiang, 2024. "Digital inclusive finance, higher education expansion and regional carbon emissions: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 1091-1101.
    2. Li, Chengming & Wang, Yilin & Zhou, Zhihan & Wang, Zeyu & Mardani, Abbas, 2023. "Digital finance and enterprise financing constraints: Structural characteristics and mechanism identification," Journal of Business Research, Elsevier, vol. 165(C).
    3. Yalin Mo & Yuchen Che & Wenqiao Ning, 2023. "Digital Finance Promotes Corporate ESG Performance: Evidence from China," Sustainability, MDPI, vol. 15(14), pages 1-23, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hin:jjmath:2882113. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mohamed Abdelhakeem (email available below). General contact details of provider: https://www.hindawi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.