Digital Finance's Influence on the Asset-Liability Ratio of China's Real Economy -Analysis of Provincial Panel Data Technology from China

Abstract

The regression model is established by using the panel data of 30 provinces in China from 2011 to 2020 using STATA statistical software. The empirical results show that: the application of information technology and big data technology in the financial sector have significantly reduced the asset-liability ratio of enterprises; At the same time, the use of computer technology in finance plays a more remarkable effect on the assetliability ratio of enterprises in the eastern region. Further analysis found that the effect of finance + IT on the asset-liability ratio of enterprises presents a significant inverted Ushaped effect relationship; Robustness test still meets the conclusion; The research is helpful to understand the role of growth of the combination of finance and technology in improving the asset-liability ratio of enterprises, driving entity enterprises to improve quality and efficiency, and enhancing the sustainable growth ability of manufacturing enterprises.