Digital financial development and inefficient investment: a study based on the dual perspectives of resource and governance effects

doi:10.1057/s41599-023-02411-5

	Digital financial development and inefficient investment: a study based on the dual perspectives of resource and governance effects
	Xue, Liuyang 1; Dong, Junan 2; Jiang, Shiyao3
	2024-01-15
发表期刊	HUMANITIES & SOCIAL SCIENCES COMMUNICATIONS
卷号	11 期号:1
摘要	As one of the most crucial domains within the digital economy, digital finance has garnered significant attention due to its impact on firms. This study empirically examines the influence of digital finance on inefficient investment, using a sample of Chinese non-financial firms from 2011 to 2019. Results show that digital finance effectively mitigates firm inefficient investment, with a more pronounced effect observed in non-state firms and those operating in regions with higher levels of institutional development. Mechanism analysis demonstrates that digital finance mitigates inefficient investment through resource and governance effects. Further analysis shows that the breadth of coverage, use depth, and digital support services of digital finance all contribute to reducing inefficient investment. Moreover, digital finance enhances the willingness and ability of firms to invest and improves their overall investment levels. These results provide evidence for the positive impact of digital finance in mitigating inefficient investment.
DOI	10.1057/s41599-023-02411-5
收录类别	SSCI ; AHCI
语种	英语
WOS研究方向	Arts & Humanities - Other Topics ; Social Sciences - Other Topics
WOS类目	Humanities, Multidisciplinary ; Social Sciences, Interdisciplinary
WOS记录号	WOS:001142978400001
出版者	SPRINGERNATURE
原始文献类型	Article
EISSN	2662-9992
引用统计	被引频次[WOS]：0 [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	http://ir.lzufe.edu.cn/handle/39EH0E1M/35669
专题	工商管理学院
通讯作者	Dong, Junan
作者单位	1.Nankai Univ, Business Sch, Tianjin 300071, Peoples R China; 2.Shandong Univ, Sch Management, Jinan 250100, Shandong, Peoples R China; 3.Lanzhou Univ Finance & Econ, Sch Business Adm, Lanzhou 730020, Gansu, Peoples R China
推荐引用方式 GB/T 7714	Xue, Liuyang,Dong, Junan,Jiang, Shiyao. Digital financial development and inefficient investment: a study based on the dual perspectives of resource and governance effects[J]. HUMANITIES & SOCIAL SCIENCES COMMUNICATIONS,2024,11(1).
APA	Xue, Liuyang,Dong, Junan,&Jiang, Shiyao.(2024).Digital financial development and inefficient investment: a study based on the dual perspectives of resource and governance effects.HUMANITIES & SOCIAL SCIENCES COMMUNICATIONS,11(1).
MLA	Xue, Liuyang,et al."Digital financial development and inefficient investment: a study based on the dual perspectives of resource and governance effects".HUMANITIES & SOCIAL SCIENCES COMMUNICATIONS 11.1(2024).