Digital finance and enterprise financing constraints: Structural characteristics and mechanism identification

Li, Chengming; Wang, Yilin; Zhou, Zheng; Wang, Zeyu; Mardani, Abbas

doi:10.1016/j.jbusres.2023.114074

Cited by 80 publications

(15 citation statements)

References 38 publications

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“…Their research provides experiential support and decision-making references for promoting the sustainable development of the mining industry. Li [ 44 ] analyzed the performance of Chinese A-share listed companies regarding corporate financing constraints, particularly discussing the impact of regional digital financial development. They found that digital finance significantly alleviates corporate financing constraints, especially for small and medium-sized enterprises (SMEs) and private enterprises, correcting discrimination against them by traditional finance.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimizing green supply chain circular economy in smart cities with integrated machine learning technology

Liu,

Guan,

Wang

et al. 2024

Heliyon

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Section: Literature Reviewmentioning

confidence: 99%

Optimizing green supply chain circular economy in smart cities with integrated machine learning technology

Liu,

Guan,

Wang

et al. 2024

Heliyon

Self Cite

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“…This was of great significance for protecting the ecological environment and realizing the sustainable utilization of resources. Li et al ( 30 ) investigated the influence of regional digital finance development on corporate financing constraints. It was found that digital finance can significantly alleviate the financing constraints of enterprises, and the impact on small and medium-sized enterprises and private enterprises was more significant.…”

Section: Literature Reviewmentioning

confidence: 99%

The influence of digital platform on the implementation of corporate social responsibility: from the perspective of environmental science development to explore its potential role in public health

Wang,

Yuan,

Guan

et al. 2024

Front. Public Health

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IntroductionThis paper aims to explore the intersection of corporate social responsibility (CSR) and public health within the context of digital platforms. Specifically, the paper explores the impact of digital platforms on the sustainable development practices of enterprises, seeking to comprehend how these platforms influence the implementation of environmental protection policies, resource management, and social responsibility initiatives.MethodsTo assess the impact of digital platforms on corporate environmental behavior, we conducted a questionnaire survey targeting employees in private enterprises. This survey aimed to evaluate the relationship between the adoption of digital platforms and the implementation of environmental protection policies and practices.ResultsAnalysis of the survey responses revealed a significant positive correlation between the use of digital platforms and the environmental protection behavior of enterprises (r=0.523;p<0.001), Moreover, the presence of innovative environmental protection technologies on these platforms was found to positively influence the enforcement of environmental policies, with a calculated impact ratio of (a∗b/c=55.31%). An intermediary analysis highlighted that environmental innovation technology plays a mediating role in this process. Additionally, adjustment analysis showed that enterprises of various sizes and industries respond differently to digital platforms, indicating the need for tailored environmental policiesDiscussionThese findings underscore the pivotal role of digital platforms in enhancing CSR efforts and public health by fostering improved environmental practices among corporations. The mediating effect of environmental innovation technologies suggests that digital platforms not only facilitate direct environmental actions but also enhance the efficiency and effectiveness of such initiatives through technological advances. The variability in response by different enterprises points to the importance of customizable strategies in policy formulation. By offering empirical evidence of digital platforms’ potential to advance CSR and public health through environmental initiatives, this paper contributes to the ongoing dialogue on sustainable development goals. It provides practical insights for enterprises and policy implications for governments striving to craft more effective environmental policies and strategies.

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“…We refer to the studies of Li et al (2023) and Tang et al (2019). In this paper, we control for the following variables: growth opportunity (Growth), enterprise size (Size), enterprise age (Age), asset-liability ratio (Lev), return on assets (ROA), shareholding concentration (Top1), and year and industry.…”

Section: Control Variablesmentioning

confidence: 99%

“…We draw on the study of Li et al (2023) and use the change in variable measure for the robustness testing.…”

Section: Robustness Testsmentioning

confidence: 99%

Supplier innovativeness, supplier relationships, and enterprises' finance constraints

Li,

Chen

2023

Manage Decis Econ

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In this study, we adopt the perspective of supplier innovation and manually collect samples of enterprises and their suppliers listed on China's Shanghai and Shenzhen A‐shares markets from 2008 to 2021 to investigate whether supplier innovativeness affects enterprises' financing constraints. We find that supplier innovativeness can significantly alleviate enterprises' financing constraints; this effect is more significant when the relationship between enterprises and suppliers is more stable and their economic dependence is higher. The analysis of the mechanism of action reveals that supplier innovativeness can alleviate enterprises' financing constraints by enhancing their innovativeness. The heterogeneity analysis finds that the alleviation effect of supplier innovativeness on enterprises' financing constraints is more significant in nonstate‐owned enterprises. We examine the factors influencing enterprises' financing constraints from the unique perspective of supplier innovativeness, enrich the literature on financing constraints and provide new ideas for enterprise managers and policymakers.

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Digital finance and enterprise financing constraints: Structural characteristics and mechanism identification

Cited by 80 publications

References 38 publications

Optimizing green supply chain circular economy in smart cities with integrated machine learning technology

Optimizing green supply chain circular economy in smart cities with integrated machine learning technology

The influence of digital platform on the implementation of corporate social responsibility: from the perspective of environmental science development to explore its potential role in public health

Supplier innovativeness, supplier relationships, and enterprises' finance constraints

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