Author(s)

Bing Shan

Corresponding Author

Bing Shan

ABSTRACT

The development of digital inclusive finance is changing the payment and clearing structure of traditional finance and the way financial information is matched. As a combination of finance and technology, digital finance offers clear benefits, as it involves almost all financial business in China. Digital finance is becoming an integral part of the financial system. However, the impact of digital financial inclusion on the financialization of enterprises remains unclear. Based on empirical tests, this paper uses the enterprise data of Shanghai and Shenzhen A-shares from 2011 to 2018 to measure whether the influence of digital financial inclusion is promoting or inhibiting. It is found that digital inclusive finance promotes the degree of financialization of enterprises, and the above conclusion still holds after robustness tests. The research of this paper provides new ideas for enterprises to adapt to the development of the digital economy.

KEYWORDS

Digital finance, financialization, empirical research