Research Article
The Value of SMEs Being Affected by the Development of the Convergence of Digital Technology and Internet Financing: Evidence from China
@INPROCEEDINGS{10.4108/eai.28-10-2022.2328432, author={Yiwen Lou}, title={The Value of SMEs Being Affected by the Development of the Convergence of Digital Technology and Internet Financing: Evidence from China}, proceedings={Proceedings of the International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2022, October 28-30, 2022, Shenzhen, China}, publisher={EAI}, proceedings_a={FFIT}, year={2023}, month={4}, keywords={the breadth of digital finance coverage; small and medium-sized enterprises; enterprise value}, doi={10.4108/eai.28-10-2022.2328432} }- Yiwen Lou
Year: 2023
The Value of SMEs Being Affected by the Development of the Convergence of Digital Technology and Internet Financing: Evidence from China
FFIT
EAI
DOI: 10.4108/eai.28-10-2022.2328432
Abstract
This paper investigates the impact of the breadth of digital finance coverage on the value of Small and medium-sized enterprises (SMEs) in China by measuring the breadth of digital finance coverage using the Peking University Inclusive Digital Finance Index. It is found that the increase in the breadth of coverage of digital finance promotes the enterprise value of SMEs. And heterogeneity analysis was used to find that the breadth of digital finance coverage has a greater impact on the enterprise value of large firms compared to SMEs. Therefore, the state should give more attention and policy support to small enterprises. Finally, the robustness test verifies that the breadth of coverage of digital finance has a significantly positive impact on the value of SMEs. The policy implication of this paper is that the financial management needs to take measures to improve the breadth of coverage of digital finance and consider the variability of different firms and different regional firms when specifying policies.