Influence of Digital Finance on Efficacy of Entrepreneurship by Returning Migrant Workers

Xiong, Chuanxi; Fu-sheng, Zeng

doi:10.1155/2021/3798106

Cited by 7 publications

(4 citation statements)

References 26 publications

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“…We add risk-free interest rate in the regression model as it can reflect the macroeconomic environment when M&As occur. Figures in model (9) show that the significance of DF does not change after adding macroeconomic factors, thus the conclusion is convincing.…”

Section: Robustness Testmentioning

confidence: 77%

Digital finance and M&As: An empirical study and mechanism analysis

et al. 2023

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With the rapid growth and wide application of digital technology, enterprises have entered the digital era with both opportunities and challenges existing. Mergers and acquisitions are one of the most efficient ways to integrate resources and achieve profit growth, giving enterprises advantages in competing in the new mode of economic growth. Based on this, this research tries to explore whether the development of digital finance will contribute to the emergence of M&As activities through combining M&As data of the Chinese stock market with the digital finance inclusion index between 2012 and 2020. The results show that the development of digital finance largely influences M&As activities through lower acquirers’ financial constraints. We further replace digital finance with three sub-indexes including coverage breadth, usage depth, and digitalization level to explore the impact of different dimensions of digital finance on M&As. Results show that coverage breadth plays a more important role. In addition, heterogeneity tests reveal that the relationship between the development of digital finance and M&As activities varies significantly. The influences of digital finance on private and western and central enterprises are more significant compared with state-owned and eastern enterprises. According to the study, since the development of digital finance can be an efficient way to ease financial constraints and boost M&As activities, the government should promote the development of digital finance while companies strive to make the most use of it.

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Section: Robustness Testmentioning

confidence: 77%

Digital finance and M&As: An empirical study and mechanism analysis

et al. 2023

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“…Digital financial inclusion can effectively raise the income level of migrant workers and improve their labor supply. On the one hand, digital financial inclusion expands the scope of financial services, focuses on the “long-tail group, “helps to alleviate the financing constraints of migrant workers, provides financial support for migrant workers, promotes innovation and entrepreneurship of migrant workers, facilitates labor reproduction of migrant workers, reduces the incidence of poverty, and increases the income level of migrant workers ( 37 ). On the other hand, digital financial inclusion will improve the financial literacy of migrant workers, which is conducive to their financial investment.…”

Section: Theoretical Analysis and Research Hypothesesmentioning

confidence: 99%

Can digital financial inclusion help reduce migrant workers’ overwork? Evidence from China

Zhang,

Li,

Zhuang

et al. 2024

Front. Public Health

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IntroductionMigrant workers in China are migrants from the rural to the urban areas who usually work in the cities and return to the countryside after a certain period. Due to China’s strict household registration system, they differ significantly from urban residents’ access to public services. However, at the same time, China’s workers are facing a severe phenomenon of overwork, and the group of migrant workers is even more hard-hit by overwork, which will cause various adverse effects on workers and society and should attract the attention of all sectors of society.MethodsThis paper focuses on the impact of digital financial inclusion on the overwork of migrant workers. This study considered cross-sectional data containing 98,047 samples based on the 2017 China Migrants Dynamic Survey 2017 (CMDS) and China Municipal Statistical Yearbook after robustness tests and heterogeneity analysis using probit models.Results(1) digital financial inclusion can effectively alleviate overwork among migrant workers; (2) the impact of digital finance on overwork is more significant for the new generation, digitized industries, and self-employed migrant workers; it is also more significant for the South, East, and small and medium-sized cities than for the North, the Midwest, and large cities; (3) job quality and income are crucial factors in how digital financial inclusion affects overwork among migrant workers. Digital financial inclusion can improve the quality of employment for migrant workers and alleviate overwork. However, the income substitution effect partially reduces the inhibitory impact of digital financial inclusion on overwork.ConclusionContinuously promote the development of digital inclusive finance, improve laws and regulations, and protect the labor rights and interests of migrant workers. At the same time, vocational training and skills upgrading for rural migrant workers should be strengthened to improve the quality of their employment so that they can leave the secondary labor market and enter the primary labor market.

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“…DIF has the function of improving the existing imbalance of financial capital (Agnello et al, 2012) and reducing the gap between rich and poor in society (Peng and Mao, 2023). Previous DIF-related literature has focused on the macroeconomic impact (Wang and Fu, 2021;Xiong and Zeng, 2021), and less on the impact of DIF development on complex household economic behavior, which to some extent ignores the impact of DIF on the game relationship of household decision-making. Fortunately, there are more mature studies on the impact of DIF on the single economic behavior of households.…”

Section: Digital Inclusive Financementioning

confidence: 99%

Unraveling the influence and mechanism of digital inclusive finance on household financial substitution: evidence from China

Sui

2023

APJML

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PurposeThe development of digital inclusive finance (DIF) has increased households' financial investments and consumption. However, few studies have considered whether DIF strengthens the substitution of household financial investment for consumption behavior. To clarify the relationship between DIF, household financial investment and household consumption behavior, the authors combine matched data from the China Family Panel Studies (CFPS) and Peking University Digital Inclusive Finance Index (2011–2018) to explore the impact of DIF on household financial substitution. This study aims to discuss the aforementioned objectives.Design/methodology/approachThis study's empirical analysis applies ordinary least squares (OLS) to answer how DIF affects household financial investment substitution for consumption. This study uses three approaches to examine the robustness of the benchmark regression model. These three approaches are replacing the core explanatory variables, using the lagged Digital Inclusive Finance Index and using the data of additional years. This article also assesses endogeneity by applying the instrumental variable method.FindingsThe results indicate that DIF significantly enhances household financial substitution. This article also assesses endogeneity by applying the instrumental variable method and robustness test methods. The impact mechanism test shows that DIF positively affects household financial substitution, by improving information dissemination efficiency and enhancing financial participation. Further research finds that the impact of DIF on household financial substitution is more pronounced in households with low to moderate savings rates, low to average income households and homes without family members who start their businesses.Research limitations/implicationsThis study analyzed the effect and mediating mechanisms of digital financial inclusion on household financial substitution. Like all studies, the research had some limitations. First, due to differences in culture and infrastructure development, people do not understand and judge economic behaviors, such as household financial investment and consumption, in the same way. It can lead to certain biases in their understanding and study responses. Second, the study is mainly based on data from China. Future studies should be extended to foreign countries for comparative analysis. Third, the development of DIF has not yet completed a full cycle, and many problems have not been fully identified.Practical implicationsThis study provides some practical implication. First, the public sectors should effectively weigh the spending relationship between household financial investment and consumption. Second, the public sector should focus on the policy optimization and consistency of DIF. The public sector should both enhance the breadth of coverage and depth of impact of DIF and focus on long-tail groups to fully reflect the equity and inclusiveness of DIF.Originality/valueThis study responds to the discussion on the relationship between financial investment, saving and consumption games in household expenditures and enhances our understanding of how DIF affects households' complex economic behavior. The most revealing finding is that DIF reinforces the substitution of household financial investment for household consumption. DIF positively affects household financial substitution by improving the efficiency of information dissemination and increasing financial participation, which is a valid extension of the study on the mechanisms of information dissemination and financial participation in financial investment and consumption proposed.

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Influence of Digital Finance on Efficacy of Entrepreneurship by Returning Migrant Workers

Cited by 7 publications

References 26 publications

Digital finance and M&As: An empirical study and mechanism analysis

Digital finance and M&As: An empirical study and mechanism analysis

Can digital financial inclusion help reduce migrant workers’ overwork? Evidence from China

Unraveling the influence and mechanism of digital inclusive finance on household financial substitution: evidence from China

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