Author(s)

Zhesheng Yu

Corresponding Author

Zhesheng Yu

Abstract

The integration of financial services and Internet technology, known as fintech, has the potential to positively influence numerous aspects of enterprise development. This paper evaluates the relationship and mechanism between corporate technological innovation and fintech using data from Chinese A-share listed companies from 2010 to 2022. The research discovers that fintech has the potential to considerably enhance the technological innovation of enterprises. This conclusion remains valid following a series of robustness tests and endogeneity treatment. In terms of mechanism, this paper demonstrates that fintech can foster corporate technological innovation by enhancing the level of digitalization and increasing R&D investment. Additional research indicates that the promotion effect of fintech on technological innovation is more substantial in high-tech enterprises and non-state-owned enterprises. This paper enhances the research on the economic repercussions of fintech, investigates the mechanism of action between the two, and offers targeted development recommendations from the perspective of enterprises and governments, which have a certain practical significance.

Keywords

Fintech; Enterprise technology innovation; Level of digitization; R&d investment