Author(s)

Tengfei Gao

Corresponding Author

Tengfei Gao

ABSTRACT

Digital financial inclusion, as an emerging form of integration of finance and technology, has had an important impact on the real economy. The article uses the data of listed companies on the A-share SMEs in China's Shanghai and Shenzhen stock exchanges as a research vehicle to explore the impact of the development of digital financial inclusion on corporate investment efficiency. The study found that the increase in the coverage of digital finance has promoted the improvement of the investment efficiency of small and medium-sized enterprises, and it can be seen that the coverage of digital finance does not have a heterogeneous impact on large and small enterprises, and digital finance is indeed more "inclusive". The research in this article shows that the development of digital finance is an important supplement to the traditional financial industry.

KEYWORDS

Digital finance Small, medium and micro enterprises, Investment efficiency