数字政府建设与中小企业投资:来自中小企业融资服务平台建立的证据  

Digital Government Construction and Corporate Investment:Financing Service Platform for SMEs

作　　者：张萌萌 余明桂 ZHANG Mengmeng;YU Minggui(School of Economics and Management,Wuhan University,Wuhan 430072,China;School of Finance,Zhongnan University of Economics and Law,Wuhan 430073,China)

机构地区：[1]武汉大学经济与管理学院,武汉430072 [2]中南财经政法大学金融学院,武汉430073

出　　处：《计量经济学报》2024年第5期1364-1380,共17页China Journal of Econometrics

基　　金：国家社会科学基金(22AZD132);中南财经政法大学中央高校基本科研业务费专项基金(2722024AL002)。

摘　　要：数字政府建设如何通过健全数据基础设施建设赋能实体经济高质量发展,成为实践探索的重要议题.本文以地方政府中小企业融资服务平台作为数字政府建设的外生冲击,研究这种数字政府建设对中小企业投资的影响.研究发现,融资服务平台的建立显著提高了中小企业的投资水平.机制分析发现,融资服务平台主要通过缓解融资约束和加强监督治理提高中小企业的投资水平.异质性分析表明,融资服务平台对企业投资水平的积极影响主要发生在抵押品价值较低、投资不足的企业中和法律保护程度较高地区的企业中.本研究拓展了数字政府建设以及企业投资的相关文献,对政府如何引导金融机构为企业特别是中小企业提供高质量金融服务具有启示意义.How can digital government construction empower real economy highquality development through a sound data base system?This paper takes the local government SME financing service platform as an exogenous shock of digital government construction to study the impact of such digital government construction on SME investment.This paper finds that the establishment of the financing service platform significantly increases the investment level of SMEs.Heterogeneity analysis shows that the impact of the financing service platforms on corporate investment is more significant among firms with lower collateral value,underinvestment and among firms in areas with higher legal protection.Mechanism analysis further indicates that financing service platforms mainly improve the investment level of small and mediumsized enterprises by alleviating financing constraints and strengthening supervision and governance.This study expands the relevant literature on digital government construction and enterprise investment,and has enlightening significance for the government to guide financial institutions to provide high-quality financial services for enterprises,especially small and medium-sized enterprises.

关 键 词：数字政府建设 中小企业融资服务平台 企业投资 监督治理 

分 类 号：D63[政治法律—政治学] F49[政治法律—中外政治制度] F276.3[经济管理—产业经济]