金融科技、企业数字化转型与技术创新绩效  

Fintech,Digital Transformation,and Enterprise Technological Innovation Performance

作　　者：刘琳[1] 赵海旭 王洪伟 LIU Lin;ZHAO Haixu;WANG Hongwei(School of Economics and Management,Beijing University of Chemical Technology,Beijing 100029,China;Beijing World Trade Corporation Limited,Beijing 100020,China)

机构地区：[1]北京化工大学经济管理学院,北京100029 [2]北京国际贸易有限公司,北京100020

出　　处：《南京财经大学学报》2024年第5期45-56,共12页Journal of Nanjing University of Finance and Economics

基　　金：国家社会科学基金一般项目“碳风险对企业融资决策的影响机制与对冲策略研究”(23BGL096);中央高校基本科研业务费专项资金资助(ZY2429)。

摘　　要：利用2011-2021年沪深A股非金融上市公司的数据,实证检验了金融科技发展对企业技术创新的影响及作用机制。研究结果表明,金融科技发展能够显著提升企业技术创新绩效,且数字化转型在其中发挥了中介作用。异质性检验发现,在非国有企业、高科技企业和东部地区企业,金融科技对企业创新绩效的促进作用更为明显。进一步分析发现,金融科技能够通过缓解企业融资约束和降低企业融资成本,进而促进企业技术创新绩效,并且地区市场化程度和商业信用水平对两者关系具有正向调节作用。研究结论不仅为企业抓住数字化时代的机遇,提高自身技术创新能力和竞争力带来了启示,也为推动金融科技与实体经济的深度融合,加快实施创新驱动发展战略提供了经验证据。Using data from Shanghai and Shenzhen A-share non-financial listed companies from 2011 to 2021,this paper empirically examines the impact of fintech development on the technological innovation performance of enterprises and the intermediary effect of digital transformation.The research results show that the development of fintech can significantly improve enterprises technological innovation performance,and digital transformation plays an intermediary role in this process.Heterogeneity tests find that fintech has a more significant role in promoting innovation performance in non-state-owned enterprises,high-tech enterprises,and enterprises in the eastern region.Further analysis shows that fintech can promote enterprises technological innovation performance by easing the financing constraints and reducing the financing costs of enterprises,while the regional marketization degree and business credit level have a positive moderating effect on the relationship between the two.This study not only offers inspiration for enterprises to seize the opportunities of the digital age and improve their technological innovation ability and competitiveness but also provides empirical evidence for promoting the deep integration of financial technology and the real economy and accelerating the innovation-driven development strategy.

关 键 词：金融科技 数字化转型 创新绩效 融资约束 

分 类 号：F273.1[经济管理—企业管理]