How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supply
By constructing a city-level financial-technology (FinTech) development dataset, this study examines the impact of FinTech on corporate-innovation behavior from a financial-supply perspective. The results reveal that FinTech promotes corporate innovation by reducing corporate-financing constraints...
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2024-11-01
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| Series: | Technological and Economic Development of Economy |
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| Online Access: | https://jeelm.vgtu.lt/index.php/TEDE/article/view/22192 |
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| author | Chi-Chuan Lee Lei Fang Jinsong Zhao Chin-Hsien Yu Jian Zhang |
| author_facet | Chi-Chuan Lee Lei Fang Jinsong Zhao Chin-Hsien Yu Jian Zhang |
| author_sort | Chi-Chuan Lee |
| collection | DOAJ |
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By constructing a city-level financial-technology (FinTech) development dataset, this study examines the impact of FinTech on corporate-innovation behavior from a financial-supply perspective. The results reveal that FinTech promotes corporate innovation by reducing corporate-financing constraints and financing costs, alleviating information asymmetry, and expanding financing channels. This promotion effect is more pronounced for private, small, and young firms, firms with fewer fixed assets, and those located in low-regulation intensity areas. Moreover, credit-based FinTech companies have a greater impact on business innovation. In addition, bank deregulation and increased bank competition crowd out the financial supply of FinTech for innovation financing. Knowledge of these impacts can help corporate managers, governments, and financial regulators to formulate more effective development strategies to promote corporate innovation.
First published online 15 November 2024
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| format | Article |
| id | doaj-art-86f828bac8a842a7afd7235c13a3195b |
| institution | Kabale University |
| issn | 2029-4913 2029-4921 |
| language | English |
| publishDate | 2024-11-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Technological and Economic Development of Economy |
| spelling | doaj-art-86f828bac8a842a7afd7235c13a3195b2024-11-15T16:29:00ZengVilnius Gediminas Technical UniversityTechnological and Economic Development of Economy2029-49132029-49212024-11-0110.3846/tede.2024.22192How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supplyChi-Chuan Lee0Lei Fang1Jinsong Zhao2Chin-Hsien Yu3Jian Zhang4School of Public Administration, Southwestern University of Finance and Economics, Chengdu, ChinaSchool of Statistics, Southwestern University of Finance and Economics, Chengdu, ChinaSchool of Economics, Southwestern University of Finance and Economics, Chengdu, ChinaSchool of Public Administration, Southwestern University of Finance and Economics, Chengdu, ChinaSchool of Economics, Southwestern University of Finance and Economics, Chengdu, China By constructing a city-level financial-technology (FinTech) development dataset, this study examines the impact of FinTech on corporate-innovation behavior from a financial-supply perspective. The results reveal that FinTech promotes corporate innovation by reducing corporate-financing constraints and financing costs, alleviating information asymmetry, and expanding financing channels. This promotion effect is more pronounced for private, small, and young firms, firms with fewer fixed assets, and those located in low-regulation intensity areas. Moreover, credit-based FinTech companies have a greater impact on business innovation. In addition, bank deregulation and increased bank competition crowd out the financial supply of FinTech for innovation financing. Knowledge of these impacts can help corporate managers, governments, and financial regulators to formulate more effective development strategies to promote corporate innovation. First published online 15 November 2024 https://jeelm.vgtu.lt/index.php/TEDE/article/view/22192FinTechfinancial supplycorporate innovationbank competition |
| spellingShingle | Chi-Chuan Lee Lei Fang Jinsong Zhao Chin-Hsien Yu Jian Zhang How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supply Technological and Economic Development of Economy FinTech financial supply corporate innovation bank competition |
| title | How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supply |
| title_full | How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supply |
| title_fullStr | How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supply |
| title_full_unstemmed | How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supply |
| title_short | How does FinTech development drive corporate innovation? Fresh evidence from the perspective of financial supply |
| title_sort | how does fintech development drive corporate innovation fresh evidence from the perspective of financial supply |
| topic | FinTech financial supply corporate innovation bank competition |
| url | https://jeelm.vgtu.lt/index.php/TEDE/article/view/22192 |
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