The Impact of Digital Inclusive Finance on Corporate Risk-Taking
DOI:
https://doi.org/10.54097/sz42kk29Keywords:
Digital Inclusive Finance, Risk-Taking Level, Mechanism Analysis, High-Quality Development.Abstract
In the digital era, where enterprises often show limited risk-taking abilities, this study analyzes panel data from A-share listed companies in China from 2011 to 2022 to systematically explain how digital inclusive finance affects corporate risk-taking levels. The research reveals that digital inclusive finance significantly boosts corporate risk-taking. Through a detailed mechanism analysis using a mediation effect model, the study finds that digital inclusive finance enhances corporate risk-taking by easing financing constraints and promoting digital transformation. Further investigation highlights that the positive impacts of digital inclusive finance are especially evident in older and smaller enterprises. These businesses, which frequently encounter greater difficulties in accessing traditional financial resources, gain considerably from the opportunities provided by digital inclusive finance. This study offers valuable insights for improving corporate risk-taking capabilities and achieving high-quality development.
Downloads
References
[1] Yu Nutao, Zhang Huayu, Zhao Liping. Threat of Large Shareholder Exit and Corporate Risk-Taking: Avoiding Loss or Seeking Opportunity? [J]. Journal of Applied Statistics and Management, 2023, 42 (5): 916-936.
[2] Zhao Bingqi. Digital Inclusive Finance in China and Urban-Rural Income Gap—An Empirical Study Based on Panel Threshold Model [J]. Journal of Social Sciences, 2020, 0 (1): 196-205.
[3] Tang Yong, Lü Taiseng, Hou Jingyuan. Digital Inclusive Finance and Consumption Upgrade of Rural Residents [J]. Wuhan Finance, 2021 (7): 18-26.
[4] Du Jiating, He Yong, Gu Qiannong. Nonlinear Impact of Digital Inclusive Finance on the Consumption Structure Upgrade of Rural Residents [J]. Statistics and Information Forum, 2022, 37 (9): 63-74.
[5] Zhao Jinchun. Can Digital Inclusive Finance Enhance Agricultural Total Factor Productivity?—Empirical Evidence Based on Cross-Country Panel Data [J]. Modern Economic Research, 2024 (3): 109-121.
[6] Fan Zhiying, Du Junping. Digital Inclusive Finance, Risk-Taking, and Technological Innovation [J]. China Certified Public Accountant, 2023 (3): 57-61.
[7] Wen Xuezhou, Wang Jingjing, Yu Yuanyuan. Digital Inclusive Finance, Financing Constraints, and Corporate Sustainable Development Performance [J]. Statistics and Decision, 2024, 40 (8): 168-173.
[8] Wei Mengjie, Li Jingping. Impact of Digital Inclusive Finance on Commercial Bank Credit Risk—A Joint Perspective Based on Deposit and Loan Structure [J]. Economic Issues, 2024 (2): 32-40.
[9] Li Liang, Yin Fengchun. Digital Inclusive Finance, Financing Constraints, and Investment Efficiency of SMEs [J]. Scientific Management Research, 2024, 42 (1): 106-114.
[10] Wang Zhuquan, Ji Dingyun. Can Digital Inclusive Finance Reduce Financial Risk for SMEs—From the Perspective of Information Disclosure and Innovation-Driven [J]. Finance and Accounting Monthly, 2024, 45 (6): 36-42.
[11] Zhang Liao, Zeng Jiacheng. Digital Transformation, Peer Effects, and Corporate Risk-Taking [J]. Business Research, 2024 (3): 113-124.
[12] Faccio M, Marchica M T, Mura R. Large Shareholder Diversification and Corporate Risk-Taking [J]. The Review of Financial Studies, 2011, 24 (11): 3601-3641.
[13] Cai Yanping, Zhu Xuetian. Research on the Impact of Big Data Tax Administration on Corporate Risk-Taking [J]. Journal of Hunan University (Social Science Edition), 2024, 38 (3): 64-73.
[14] Zhao Xin, Li Yanan, Ding Lili. The Impact of Strong Financial Regulation on Corporate Risk-Taking—Empirical Evidence from New Asset Management Regulations [J]. Economy and Management, 2024, 38 (1): 1-8.
[15] Yu Minggui, Li Wengui, Pan Hongbo. Managerial Overconfidence and Corporate Risk-Taking [J]. Journal of Financial Research, 2013 (1): 149-163.
[16] Tian Lin, Guo Mengqi. Research on the Alleviation of Financing Constraints by the Development of Digital Inclusive Finance—Empirical Analysis Based on Agricultural Enterprises [J]. Journal of Chongqing University (Social Science Edition), 2024, 30 (3): 70-85.
[17] Chen Li, Zhang Huilin, Xie Jiazhi. Digital Inclusive Finance and Innovation in Private Enterprises [J]. Finance and Trade Research, 2024, 35 (5): 101-110.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Highlights in Business, Economics and Management
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
How to Cite
