金融科技对企业新质生产力的影响研究  

Fintech Empowers Firms to Develop New Quality Productivity

作　　者：牛彪 辛晓楠 王建新 Niu Biao;Xin Xiaonan;Wang Jianxin

机构地区：[1]中国财政科学研究院,北京100142

出　　处：《金融理论与实践》2024年第12期17-28,共12页Financial Theory and Practice

摘　　要：数字技术发展催生新型金融业态,金融科技成为企业实现核心竞争力跨越式提升的重要驱动力。以2011—2021年沪深A股非金融上市公司为研究对象,实证检验金融科技对企业新质生产力的影响及作用机制。研究发现,金融科技对企业新质生产力具有显著的促进作用,研究结论在经过一系列稳健性检验后依然成立。作用机制检验表明,金融科技主要通过优化要素资源配置、提高内部治理水平两条路径实现对企业新质生产力的提升。异质性分析表明,金融科技对非国有企业、中小规模企业、银企关系弱和行业竞争度高的企业新质生产力提升的促进作用更为显著。研究结论为企业加快构建科技创新驱动的现代金融体系,以价值赋能实现新质生产力发展提供了路径参考。The development of digital technology has spawned new forms of financial business,and financial technology has become an important driving force for enterprises to achieve leapfrog im⁃provement of core competitiveness.Taking Shanghai and Shenzhen A-share non-financial listed companies from 2011 to 2021 as the research object,this paper examines the influence and mecha⁃nism of fintech on new quality productivity of enterprises.The results show that:Fintech has a signif⁃icant positive impact on new quality productivity of enterprises.The Conclusion is still valid after a series of robust tests.Mechanism analysis finds that optimizing factor resource allocation and improv⁃ing internal governance play an intermediary role in the relationship between fintech and new quali⁃ty productivity of enterprises.Heterogeneity analysis shows that in non-state-owned enterprises,small and medium-sized enterprises,enterprises with weak bank-enterprise relationship and high industry competition,fintech has a more significant role in promoting the new quality productivity of enterprises.The research conclusion provides a path reference for enterprises to accelerate the con⁃struction of modern financial system driven by scientific and technological innovation and realize the development of new quality productivity with value empowerment.

关 键 词：金融科技 企业新质生产力 要素配置 治理效应 

分 类 号：F832[经济管理—金融学]