Digital Inclusive Finance, Financing Constraints, and Technological Innovation of SMEs—Differences in the Effects of Financial Regulation and Government Subsidies
Sustainability
; 15(9):7144, 2023.
Article
in English
| ProQuest Central | ID: covidwho-2320838
ABSTRACT
Deepening the development of digital inclusive finance, dredging the impact of digital inclusive finance on the innovation path of small and medium-sized enterprises (SMEs), and strengthening financial supervision and government support are of great significance to promoting the technological innovation of SMEs. This paper selects listed companies on the New Third Board as research samples and analyzes and empirically tests the relationship between digital inclusive financial and technological innovation of small and medium-sized enterprises. The results show that digital inclusive finance can significantly promote the technological innovation level of SMEs, especially the higher the degree of digitalization, the more obvious the promotion effect. Upon further testing, it was more pronounced in the sample of high-tech industries and eastern SMEs. Digital inclusive finance can effectively alleviate the financing constraints of SMEs, thereby promoting the technological innovation of SMEs. Reasonable financial supervision and adaptive government subsidies have a positive regulating effect on the innovation incentive effect of digital inclusive finance.
Environmental Studies; digital inclusive finance; SME technology innovation; financing constraints; degree of financial regulation; government subsidies; Technological change; Dredging; Small business; Finance; Subsidies; Market positioning; Innovations; Subsidies (financial); COVID-19; Big Data; Employees; Small & medium sized enterprises-SME; Literature reviews; Bank technology; Coronaviruses; Digitization; Financial services; Digital technology; Regulation of financial institutions; Disease transmission; Financing; United Kingdom--UK; United States--US; China
Full text:
Available
Collection:
Databases of international organizations
Database:
ProQuest Central
Type of study:
Experimental Studies
Language:
English
Journal:
Sustainability
Year:
2023
Document Type:
Article
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