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Journal articles on the topic 'Digital finance'
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1
Ozili, Peterson K. "Digital Finance, Green Finance and Social Finance: Is thera a Link?" Financial Internet Quarterly 17, no. 1 (March 1, 2021): 1–7. http://dx.doi.org/10.2478/fiqf-2021-0001.
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Abstract Identifying the intersection between digital finance, green finance and social finance is important for promoting sustainable financial, social and environmental development. This paper suggests a link between digital finance, green finance and social finance. Using a simple conceptual model, I show that digital finance offers a smooth, efficient and seamless channel for individuals and corporations to fund social projects that deliver a social dividend, and green projects lead to a sustainable environment. The implication is that digital finance is both an enabler and a channel for efficient green financing and social financing.
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Goddard, G. Jason. "Digital Finance Book Review." Journal of Asia-Pacific Business 21, no. 2 (April 2, 2020): 161–64. http://dx.doi.org/10.1080/10599231.2020.1745052.
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Nurjannah, Ibrahim Daud, Dewi, Achmad Mohyi, Titiek Ambarwati, Yoyok Cahyono, Andrean Eko Haryoko, Agus Leo Handoko, Riyan Sisiawan Putra, Hadion Wijoyo, Aris Ari-yanto, and M. Jihadi. "The effect of digital marketing, digital finance and digital payment on finance performance of Indonesian SMEs." International Journal of Data and Network Science 6, no. 1 (2022): 37–44. http://dx.doi.org/10.5267/j.ijdns.2021.10.006.
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The purpose of this study is to analyze the effect of digital finance, digital marketing and digital payment variables on finance performance. This study uses quantitative methods and data analysis techniques is performed based on Structural Equation Modeling using SmartPLS 3.0 software. The method of selecting the sample using the snowball sampling methods. Online questionnaires were sent to 190 SMEs respondents in the province of Banten Indonesia and evaluated the returned questionnaires. The results of data analysis show that the digital finance had a positive and significant effect on the finance performance, the digital payment had a positive and significant effect on the finance performance and the digital marketing had a positive and significant effect on the finance performance. The findings of this research can provide benefits for MSME actors in developing their business to improve business performance, by paying attention to aspects of MSME digitization and financial literacy of MSME entrepreneurs. Keep in mind, the important role of information technology in business activities requires entrepreneurs to improve their digital literacy.
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Al-Bashir, Fadu. "Digital Finance Role in Islamic Finance Growth Reinforcement." Bait Al Mashura Journal, no. 09 (October 1, 2018): 27–79. http://dx.doi.org/10.33001/m300420180951.
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بدأت معالم الواقع الجديد الذي تعيشه البشرية تتشكل في ظل التقنيات الحديثة؛ وأصبحت الأفكار والمعلومات والمعارف أصولاً قابلةً للتداول؛ من خلال استخدام التقنيات الرقمية التي تستند على السرعة والمرونة. يهدف البحث إلى دراسة متغيرات التحول نحو الاقتصاد الرقمي، كإنترنت الأشياء، والذكاء الاصطناعي، والبيانات الكبيرة، والحوسبة السحابية؛ وبيان مزاياها وسلبياتها، وانعكاسها على الجوانب الاقتصادية، مع التركيز على دور المنصات الرقمية في تعزيز تنامي التمويل الإسلامي، وإحداث نقلة نوعية في أنشطته، باستخدام المنهج الوصفي التحليلي. ويتناول البحث مفهوم الاقتصاد الرقمي ومزاياه، والانتقادات الموجهة له،
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Liao, Gaoke, Zhenghui Li, Mengxin Wang, and Khaldoon Albitar. "Measuring China's urban digital finance." Quantitative Finance and Economics 6, no. 3 (2022): 385–404. http://dx.doi.org/10.3934/qfe.2022017.
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<abstract> <p>With the full integration of digital information technology and financial services, digital finance has developed rapidly. As there are significant differences in the development level of FinTech and traditional financial sectors in different cities, it is important to evaluate the development level of urban digital finance. This study aimed to compile an index of urban digital finance to present an accurate and in-depth depiction of how urban digital finance has developed in China. Our sample covers 278 cities in China, over the period 2010–2020. This paper firstly constructs the urban digital financial index system from the three dimensions of digital financial services, digital financial technology, and digital financial operating environment, and then adopts a combination of subjective and objective methods to measure the urban digital financial index. This paper study revealed that China's urban digital finance has been on an upward trend from 2010 to 2020, and the digital finance operating environment is an important driving force for the growth of the urban digital finance index. The convergence of China's urban digital finance is decreasing, indicating that the gap in digital financial development between cities is increasing. Urban digital finance has positive spatial agglomeration, but this spatial agglomeration is decreasing.</p> </abstract>
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Zaripov, I. "Digital Banking: Modern Finance Paradigm Shifting." Scientific Research and Development. Economics of the Firm 11, no. 1 (March 31, 2022): 13–22. http://dx.doi.org/10.12737/2306-627x-2022-11-1-13-22.
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The article provides an author's view of the current problems facing the banking system of the Russian Federation as part of the transition to digital banking services, especially aggravated due to the massive using remote channels of interaction due to the restrictions of the pandemic period. The author analyzes the current problems of financial sector due to increased criminal cyber attacks and offers recommendations to counter these crimes. There is evidence of the need to revise the concepts and strategies of the development of banks in connection with digitalization, to improve approaches to information security. And the author concludes that it is information security that is a key element in the process of digitalization of banking activities, and the soundness of banking institutions can be ensured only by the joint efforts of the state, banks and their customers, which will play a key role in stabilizing the domestic financial sector.
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Jamuna, Dr S., Dr J. R. Gaur, Anshu Singh, and Dharam Barot. "FRAUDS IN FINANCE." American Journal of Management and Economics Innovations 05, no. 01 (January 23, 2023): 1–7. http://dx.doi.org/10.37547/tajmei/volume05issue01-01.
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Reserve Bank of India observes Financial Literacy week every year since its starting from 2016. The financial literacy week is been observed with an aim to literate the public financially across our country. Last year (2022) it was observed between 14th February to 18th February with the core motto “Go Digital, Go Secure”. Last year’s financial literacy weak gave stress on creating financial awareness on convenience and security of digital transactions and also protection of digital transactions. The highest bank of our country advised all other banks to disseminate information and create awareness to the general public. RBI has planned for a media campaign at a larger level to spread basic financial awareness messages to the common public. This initiative tells us the importance of financial literacy in our country. As the present government is keen on the development front through digitalisation, the literacy on financial transactions becomes more vital. General public may not involve in high number of transactions at a time in a day but the transactions collectively result to a huge amount in a day. So, being aware of each and every small transaction and the crimes connected to those transactions become more important for the mitigation and prevention of such frauds. In this context, this article tries to join hands with RBI to literate the public on the frauds and their mitigation.
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Alnasery, Asmaa Habeeb, Ibrahim Khaleel Ibrahim, and Mayada Mahmood Ahmed. "Digital Finance and COVID-19." International Journal of Engineering, Business and Management 6, no. 3 (2022): 39–46. http://dx.doi.org/10.22161/ijebm.6.3.5.
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The COVID-19 pandemic has impacted digital financial inclusion trends across the world in many and complex ways. In developing and emerging contexts, this crisis also holds the potential to propel an unprecedented acceleration in the process of financial digitization and turn out to be a game-changer for digital financial inclusion. The aim of this study is to illustrate the opportunities and risks associated with the surge in uptake and use of digital financial service, providing ideas on how to leverage the paradigm changes affecting the overall approach and perspective towards digital financial services on the part of various stakeholders to advance financial inclusion and development. It also seeks to showcase how digital financial services have been used in both traditional and innovative ways to mitigate the impact of the COVID-19 crisis on economies and societies, by both public and private actors.
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Ozili, Peterson K. "Contesting digital finance for the poor." Digital Policy, Regulation and Governance 22, no. 2 (May 18, 2020): 135–51. http://dx.doi.org/10.1108/dprg-12-2019-0104.
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Purpose This paper aims to critically assess digital finance as a pro-poor intervention in the development finance space. Design/methodology/approach Using critical policy discourse analysis, this paper explains the turn from microfinance to digital finance, and thereafter discusses four issues: the lack of evidence that digital finance for poor people actually promotes socioeconomic development; the risks that poor people are exposed to, which arises from their exposure to digital finance technology; the lack of evidence that digital finance actually brings poor people immediate benefits; and the weak business rationale for digital finance. Findings The expectation for digital finance serving as a major pro-poor private sector intervention lacks justification. Originality/value The paper reflects on the effect of digital finance for poor people.
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Natia Shengelia, Natia Shengelia, Zhuzhuna Tsiklauri Zhuzhuna Tsiklauri, Agnieszka Rzepka Agnieszka Rzepka, and Revaz Shengelia Revaz Shengelia. "The Impact of Financial Technologies on Digital Transformation of Accounting, Audit and Financial Reporting." Economics 105, no. 03 (April 15, 2022): 385–99. http://dx.doi.org/10.36962/ecs105/3/2022-385.
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FinTech is a combination of Finance and Technology which involves use of modern smart technology like big data analytics, cloud computing, artificial intelligence, machine learning, and robotics, for doing finance. Financial technology development has influenced nearly all financial services industry, from granting to insurance, from accounting to consultancy, from consumer finance to investment banking. As a result of digital transformation, preparation of XBRL-based structured digital Financial Reports, block-chain trading, accounting of new digital assets, cryptocurrency has assigned more strategic functions to accountants, while simultaneously supported the auditing to reduce the risk at the minimum level. In order to obtain or retain competitive advantage it is essential to invest money, time into implementing in innovations. A cloud system is part of the basic infrastructure now. When the entire business model changes so do change the ways of accounting, auditing and financial reporting that are inevitable components of business. The integration of modern digital technologies into finances, has enabled finance professionals to achieve greater efficiency, work speed, and financial transparency. Keywords: Financial technologies; Digital Accounting and IFRS; Cryptocurrency; Blockchain; XBRL-standard; Audit; Financial Reporting;
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Jiang, Ziyu, Guojian Ma, and Wenyue Zhu. "Research on the impact of digital finance on the innovation performance of enterprises." European Journal of Innovation Management 25, no. 6 (June 22, 2022): 804–20. http://dx.doi.org/10.1108/ejim-02-2022-0094.
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PurposeThe purposes of this paper are to analyze whether digital finance can contribute to enterprises' innovation performance and to determine the mediating effect of government subsidies.Design/methodology/approachThis paper empirically examines the impacts of digital finance on enterprises' innovation performance by looking at Chinese companies listed on the SME and GEM boards from 2011 to 2018 to build an econometric model to test our hypotheses. The mediating effect of government subsidies, the moderating effect of financial constraints are examined, as well as shareholding of the largest shareholders in each selected company and the asset-liability ratio.FindingsThe results show that digital finance has a significant promotional effect on firms' innovation performance and that government subsidies play a partial mediating role in digital finance's contribution to firms' innovation performance. In addition, financial constraints and the shareholding of the largest shareholders in each selected company have a negative moderating effect on the relationship between government subsidies and firms' innovation performance. On the contrary, the asset-liability ratio is found to positively affect the relationship.Originality/valueThere has been limited research to date on the relationship between digital finance and firms' innovation performance, particularly with regard to the extent to which digital finance can influence innovation performance and the mechanisms for doing so. Therefore, it is of great significance to examine the relationship between digital finance and enterprises' innovation performance, which can also provide guidance for both the Chinese government and enterprises.
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Liu, Xinmin, Xinjiang Wang, and Wencheng Yu. "Opportunity or Challenge? Research on the Influence of Digital Finance on Digital Transformation of Agribusiness." Sustainability 15, no. 2 (January 6, 2023): 1072. http://dx.doi.org/10.3390/su15021072.
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The rapid development of digital finance in China has subtly influenced many aspects of social and economic development. However, agricultural enterprises can hardly enjoy the same digital dividend as traditional enterprises because of special attributes such as internal and external resource constraints, environmental constraints and cyclicality. To clarify the relationship between digital finance and digital transformation of agribusiness, and also to explore the factors that influence the effectiveness of digital finance, we use the “Peking University Digital Finance Index” to evaluate the micro impact of digital finance on the digital transformation of agribusiness. The results show that there is a “transition period” in which digital finance contributes to the digital transformation of agribusinesses, i.e., the two show a U-shaped non-linear relationship. This effect still exists after considering endogeneity and a series of robustness tests. In addition, further research determined that financing constraints and financial risk are the key paths through which digital finance affects the digital transformation of agribusinesses. Effective financial regulation weakens the U-shaped relationship between digital finance and agribusiness digital transformation and is an important means of attenuating the negative impact of digital finance. Overall, we provide a micro explanation for the accelerated popularization of digital finance in emerging markets, which is urgently needed for most agribusinesses seeking high-quality development.
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Sova, Olena, Tetiana Ganushchak, Valentyna Khrapkina, and Oksana Onyshchenko. "Development of remote identification the enterprises by digital technologies." SHS Web of Conferences 120 (2021): 02004. http://dx.doi.org/10.1051/shsconf/202112002004.
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The article is devoted to the formulation of electronic remote identification of enterprises by digital technologies. The paper determines a practical aspect of using electronic remote identification between the bank and the organizations. The article emphasizes that BankID system has great social importance and wide practical application in Nordics and Ukraine. It is analyzed the level of Ukrainian enterprises’ computerization in various industries. The shares of some industries in the structure of the Ukrainian’s GDP with the construction of a trend line are given. Authors compare states of electronic identification in the northern countries and advantages of BankID systems. The recommendations for improvement electronic remote identification the enterprises by digital technologies are made. Keywords: digitalization of finances, finance, finance of enterprises, remote identification, digital technologies, BankID, banking.
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Oh, Junggun, and Soonhyun Kwon. "Expanding Financial Inclusion Using Digital Finance." APEC Studies Association of Korea 12, no. 1 (June 30, 2020): 23–38. http://dx.doi.org/10.52595/jas.12.1.23.
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Zaripov, I. A. "Digital Banking: Modern Finance Paradigm Shifting." World of new economy 16, no. 2 (July 4, 2022): 51–63. http://dx.doi.org/10.26794/2220-6469-2022-16-2-51-63.
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The article presents author’s view on the current problems facing the banking system of the Russian Federation as part of the transition to digital banking services, especially aggravated due to the massive using of remote channels of interaction caused by the restrictions of the pandemic period. The author analyses the current problems of financial sector due to increased criminal cyber attacks and offers his recommendations to counter these crimes. There is evidence of the needs to revise the concepts and strategies of the development of banks in connection with digitalization, to improve approaches to information security. Finally, the author concluded that a key element in the process of digitalization of banking activities is information security, and the soundness of banking institutions can be ensured only by the joint efforts of the state, banks, and their customers.
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Huang, Yiping, Takatoshi Ito, Kazumasa Iwata, Colin McKenzie, and Shujiro Urata. "Digital Finance in Asia: Editors' Overview." Asian Economic Policy Review 17, no. 2 (July 2022): 163–82. http://dx.doi.org/10.1111/aepr.12397.
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Agosto, Arianna, and Paolo Giudici. "COVID-19 contagion and digital finance." Digital Finance 2, no. 1-2 (May 11, 2020): 159–67. http://dx.doi.org/10.1007/s42521-020-00021-3.
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Nwagu, Kingsley. "Impact of Digital Finance Technologies on Agricbusiness Development in Nigeria." Revista Gestão Inovação e Tecnologias 11, no. 4 (July 10, 2021): 1729–50. http://dx.doi.org/10.47059/revistageintec.v11i4.2232.
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Xu, Yalan. "Does Digital Finance Promote Green Economic Growth?" Frontiers in Business, Economics and Management 7, no. 1 (December 20, 2022): 47–52. http://dx.doi.org/10.54097/fbem.v7i1.3694.
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This paper constructs a balanced panel model of 285 cities in China to study the impact of digital finance on green economic growth. It is found that digital finance has a significant contribution to green economic growth. Green finance can increase green economic growth by promoting industrial structure upgrading. The contribution of green finance to green economic growth is higher in eastern cities and western cities than in the east. Digital finance has a significant threshold effect on green economic growth, and when the depth of digital finance exceeds the threshold value, the promotion effect of digital finance on green economic growth is greater.
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Dong, Hai, Meng Du, and Xiangjun Zhou. "Spatial-Temporal Differentiation and Dynamic Evolution of Digital Finance Inclusive Development in the Yangtze River Delta Economic Cluster of China." Mobile Information Systems 2022 (October 3, 2022): 1–12. http://dx.doi.org/10.1155/2022/5470373.
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Clarifying the sources of the digital finance inclusive development gap helps profoundly understand the regional characteristics of inclusive digital finance and benefits and formulate and implement specific policies scientifically and reasonably. Based on the 2011–2020 “Peking University Digital Finance Inclusive Index,” this study explores the regional disparity in digital finance inclusive development and its sources in the Yangtze River Delta economic cluster using the methods of the center of gravity shift, standard deviation ellipse, nested Theil index difference decomposition, and Kernel density. We found that inclusive digital finance shows a rising trend year by year, with evident heterogeneity and spatial agglomeration characteristics; interprovincial differences are the primary sources of the overall differences in inclusive digital finance in the Yangtze River Delta. The spatial effect of digital inclusion finance between the Yangtze River Delta regions has continuity. Because of the significant positive spatial correlation of digital inclusion finance between regions, digital inclusion finance in this region is vulnerable to potential shocks from neighboring regions. Moreover, with or without the spatial lag term, the level of inclusive digital finance in all regions of the Yangtze River Delta shows a leap forward. This paper looks at the regional gap of inclusive digital finance and its structural decomposition in the Yangtze River Delta city cluster from three perspectives: time trend, spatial structure, and dynamic evolution. This gives an empirical basis for the different kinds of digital finance inclusive development policies and a guide for making decisions to speed up the formation of a regional digital finance inclusive synergistic development path.
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Zhanbayev, Rinat, and Wenchao Bu. "How does digital finance affect industrial transformation?" Journal of Information Economics 1, no. 1 (January 17, 2023): 18–30. http://dx.doi.org/10.58567/jie01010002.
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With the continuous advancement of technological revolution and industrial transformation, digital finance supported by big data and artificial intelligence has become an important engine for promoting carbon neutrality. We measured the industrial structure transformation index (ISU) of 30 provinces in China, and discussed the spatial spillover effect and transmission mechanism between digital finance and ISU using the spatial Durbin model. The research results demonstrate that the digital finance development can significantly improve the local ISU. Interestingly, the impact of digital finance on the ISU of adjacent areas has a significantly negative spatial spillover effect, which still exists under the different spatial weight matrix. Digital finance can improve ISU by improving green technology innovation, upgrading industrial structure, and alleviating capital allocation. We also found that the higher degree of marketization and environmental regulation can increase the positive influences of digital finance on ISU. This research proves the effectiveness of the digital finance in improving energy efficiency, and it encourages policymakers around the world to rely on digital finance to promote ecological governance and achieve high-quality economic development.
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Tian, Geng. "Influence of Digital Finance on Household Leverage Ratio from the Perspective of Consumption Effect and Income Effect." Sustainability 14, no. 23 (December 6, 2022): 16271. http://dx.doi.org/10.3390/su142316271.
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Household leverage ratio is an important factor affecting family stability. Digital finance has changed the means of payment and consumption frequency, but the relationship between digital finance and household leverage ratio is still unclear. The existence of household debt is defined as the existence of leverage. The higher the household debt, the greater the household leverage. Based on the matching data of the China Household Finance Survey (CHFS) 2019 and the China Digital Inclusive Finance Index, this paper studies the impact of digital finance on household leverage ratio and explores its mechanism theoretically and empirically. This research finds that digital finance can significantly promote the household leverage ratio and this conclusion is still valid after instrumental variable method and robustness test. The mechanism analysis shows that digital finance can promote household over-consumption and further expand household leverage ratio. Digital finance can also reduce household leverage ratio by increasing household income. The heterogeneity analysis suggests that the role of digital finance in expanding leverage ratio is stronger for urban areas and households with low educational level. For households with higher assets, digital finance helps to reduce leverage ratio. Therefore, the government should guide residents to consume rationally and give full play to the entrepreneurship-facilitating and income-increasing effect of digital finance. Meanwhile, the residents themselves should speed up the cultivation of digital financial literacy, which is of vital significance for lowering household leverage ratio and systemic financial risks. China’s development level of digital finance ranks among the top in the world. Studying the role of digital finance in China is helpful to provide experience reference for countries around the world.
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Li, Shi. "Digital Inclusive Finance and Regional Innovation Performance." Frontiers in Business, Economics and Management 7, no. 2 (February 7, 2023): 256–60. http://dx.doi.org/10.54097/fbem.v7i2.5061.
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Digital inclusive finance is a new industry generated by inclusive finance in the context of the development of big data and the Internet. The development of digital inclusive finance promotes regional innovation, while the optimization and upgrading of industrial structure and the development of financial agglomeration provide good external conditions for the development of digital inclusive finance and regional innovation. Based on panel data from 248 prefectures from 2011-2019, this paper examines the impact of digital inclusive finance on regional innovation and the moderating role of the advanced development of industrial structure and financial agglomeration in this promotion process at the prefecture level. The study finds that digital inclusive finance promotes regional innovation; in terms of the transmission mechanism of the effect, it is found that the advanced industrial structure and financial agglomeration can strengthen the promotion effect of digital inclusive finance on regional innovation. Therefore, the development of digital inclusive finance can be promoted in terms of industrial structure optimisation and attracting financial agglomeration to enhance China's regional innovation performance.
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Kotina, Hanna, Maryna Stepura, and Pavlo Kondro. "HOW DOES ACTIVE DIGITAL TRANSFORMATION AFFECT THE EFFICIENCY OF GOVERNANCE AND THE SUSTAINABILITY OF PUBLIC FINANCE? THE UKRAINIAN CASE." Baltic Journal of Economic Studies 8, no. 1 (January 30, 2022): 75–82. http://dx.doi.org/10.30525/2256-0742/2022-8-1-75-82.
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The challenges of the digital economy are leading to radical changes in public governance, creating conditions for convenient and prompt access to public services and public information. Moreover, the pandemic has caused drastic changes in the use of digital public service – it has become a necessity. Ukraine has significant prerequisites for the development and effective transformation of public administration to a higher technological level. Furthermore, during the time of crisis (2013-2014, 2020-2021), the government priorities were shifted to support digital transformations to improve the effectiveness of public administration and ensure the sustainability of public finance. The purpose of the paper is to investigate and assess a correspondence between efficiency of governance and sustainability of public finance based on digital transformations under the Ukrainian approach. The main scientific question was: How does the active digital transformation in public governance affect the sustainability of public finance in Ukraine? Methodology. Seeking the solution, own methodological developments were used; correlation analysis of main indicators of government effectiveness and sustainability of public finance was estimated. To assess the impact of digitalization on public governance efficiency, Ukrainian governance practices over the past 13 years were analyzed, expressed by indicators of governance effectiveness, through the introduction of digital technologies. Results. Based on empirical research, it has been found that due to several limitations, a strong direct relationship between active digital transformation and the sustainability of public finances (debt security) has not been identified. But at the same time, significant progress has been made in efficiency of public governance through the implementation of costly but effective digital change. This correspondence is especially noticeable during the crisis caused by the pandemic (2020-2021), during which the involvement of citizens in digital services is very high. Practical implications and value/originality. The convergence of synergies between key aspects – public governance, digitalization, finance, and security – has great potential for relevant solutions that provide a broader view of sustainable development issues. It can be noted that this issue is extremely relevant for further research in the field of public administration and finance in the context of sustainable development of the digital economy.
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郭, 慧晶. "Digital Inclusive Finance, Digital Transformation of Enterprises and Financing Constraints." Advances in Applied Mathematics 11, no. 08 (2022): 6062–69. http://dx.doi.org/10.12677/aam.2022.118638.
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Melnyk, V. O. "Modification of Personal Investment Tools from the Perspective of Digital Finance and Its Influence on Ukrainian Finance Market." Business Inform 6, no. 521 (2021): 205–12. http://dx.doi.org/10.32983/2222-4459-2021-6-205-212.
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Drastic changes in the financial services market under the influence of digitalization determine the relevance of research of the modern structure of this market, taking into account the emergence and development of the FinTech innovations. The increase in new investment instruments is attracting the attention of an increasing number of individual investors in the digital finance industry. Considering these tools, the preferences of individual investors require a separate study. The article is aimed at studying the financial market in digital finance and analyzing such types of investments as cryptocurrencies and crowdfunding, as well as the characterizing the online brokerage as a way to obtain investment services among individual investors. As a result of the study, the place and role of cryptocurrencies, crowdfunding and online brokerage in the investment activities of individuals is substantiated; the main mechanisms of work of these financial instruments are allocated and features of their development in Ukraine are characterized. The main disadvantages and advantages of crowdfunding and cryptocurrencies are defined and further steps are proposed regarding the prospects for their development in Ukraine. In addition, the article analyzes the current state of functioning of the online brokerage service in Ukraine and proves the relevance of the allocation of these financial instruments at the legislative level. Prospects for further research in this direction are the analysis of other digital instruments of personal investments, as well as a detailed study of the specifics of functioning of crowdfunding, cryptocurrencies and online brokerage in Ukraine. For the more efficient functioning of investment instruments in the sphere of digital finance, as well as effective use in practical activities, it becomes necessary to closer define these concepts at the legislative level and to substantiate the specifics of their work in detail.
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Zhao, Yuexu, and Yujing Feng. "Research on the Development and Influence on the Real Economy of Digital Finance: The Case of China." Sustainability 14, no. 14 (July 6, 2022): 8227. http://dx.doi.org/10.3390/su14148227.
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Based on the panel data of 31 provinces in China from 2011 to 2020, this paper analyzes the development status and distribution characteristics of digital finance, and studies the impact of digital finance on the growth of the real economy. First, whether China’s digital finance development can be classified by region through quartile images is investigated, and whether there are differences in the development of digital finance between regions and within regions is explored. Then, the dynamic characteristics of regional digital finance development distribution are analyzed by kernel density estimation, and the regression model is constructed to analyze the effect of digital finance development on promoting the growth of the real economy. The numerical result shows that the development characteristics of digital finance are different between regions and within regions, and the development of digital finance can significantly promote the growth of the real economy.
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Wang, Lang, Yuping Chen, and Shijun Ding. "Examining the Impact of Digital Finance on Farmer Consumption Inequality in China." Sustainability 14, no. 20 (October 20, 2022): 13575. http://dx.doi.org/10.3390/su142013575.
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The development of digital finance has significantly changed farmer consumption behavior. This study used data from the China Household Finance Survey of 2015, 2017, and 2019 to examine whether digital finance can eliminate consumption inequality among farmers in China. In doing so, it provides empirical evidence for strategies for balancing social development and ensuring sustainable economic development. This study had three main findings. First, digital finance can significantly alleviate consumption inequality among farmers. Compared to basic consumption, digital finance is more effective at alleviating developmental consumption inequality. Second, digital finance can reduce consumption inequality among farmers by increasing online shopping and reducing income inequality. Third, the effect of digital finance on farmer consumption inequality is more significant in eastern China, among low-income farmers, and among farmers with primary education. These findings indicate that there is a “digital divide” and an “education threshold” in digital finance. Based on these results, this paper suggests measures for alleviating consumption inequality among farmers.
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Kan, Xinyu, Ruixiang Lv, Ye Chen, and Yuxin Fu. "Research on the Influence of Inclusive Finance on Carbon Emissions." Frontiers in Business, Economics and Management 6, no. 1 (November 7, 2022): 19–22. http://dx.doi.org/10.54097/fbem.v6i1.2253.
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Digital inclusive finance, as an emerging force that can promote technological innovation and economic level, can provide new ideas for carbon emission reduction. Using the panel data of 30 provinces, autonomous regions and municipalities in China from 2011 to 2019, this paper explores how digital inclusive finance affects regional carbon emissions. It is found that digital inclusive finance can obviously restrain carbon dioxide emissions; The carbon emission reduction effect of digital inclusive finance is particularly significant in the central and western regions; Digital inclusive finance can improve the level of technological innovation, and its inhibition on carbon emissions is mainly through the transmission mechanism of promoting the level of technological innovation. In view of this, green-oriented digital inclusive finance should be developed; Strengthen the combination of digitalization and industrialization, and adjust and optimize the industrial layout; Formulate digital inclusive finance policy according to local conditions; Increase investment in technological innovation funds, and promote technological innovation with digital inclusive finance.
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Chen, Yan. "Study on the Impact of Digital Finance on the Upgrading of China’s Industrial Structure." SHS Web of Conferences 151 (2022): 01030. http://dx.doi.org/10.1051/shsconf/202215101030.
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Digital finance has become an important development strategy in China and plays an irreplaceable role in the upgrading of China’s industrial structure. This paper uses panel data from 30 provinces in China from 2011 to 2020 to study the impact of digital finance on industrial structure. The study finds that the impact of digital finance on industrial structure shows a U-shaped relationship. The development of digital finance will promote the transformation and upgrading of industrial structure when it reaches a certain stage. The results of the sub-dimension show that the coverage breadth and depth of use of digital finance also have a U-shaped relationship with the industrial structure. The impact of digital finance on industrial structure has regional heterogeneity. Finally, the impact of digital finance on different industries also varies.
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Luo, Si. "Digital Finance Development and the Digital Transformation of Enterprises: Based on the Perspective of Financing Constraint and Innovation Drive." Journal of Mathematics 2022 (March 12, 2022): 1–10. http://dx.doi.org/10.1155/2022/1607020.
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In the context of the digital economy, the digital transformation of enterprises, as an important accelerator of new economic and social development, cannot be separated from the support of financial resources. Based on the data of China’s A-share listed companies from 2011 to 2020, this paper studies the influence of digital finance development on the digital transformation of enterprises and its mechanism of action. The empirical results demonstrate that digital finance development plays a significant role in promoting the digital transformation of enterprises, and the promotion effect is stronger for nonstate-owned enterprises, but the promotion effect of digital finance development on the digital transformation of enterprises is weaker in western regions and peripheral cities than that in eastern and central regions and central cities. Digital finance development can alleviate the financing constraint of enterprises, thus facilitating the digital transformation of enterprises. Digital finance development can drive enterprise innovation, thus promoting the digital transformation of enterprises. Therefore, this paper suggests that the government should steadily advance digital finance development. Meanwhile, financial institutions should speed up the construction of digital platforms and strengthen their support for innovative projects. In addition, enterprises should actively seize the opportunities brought by digital finance development and accelerate the construction of digital transformation.
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Muchlis Gazali, Haneffa, and Junisa Jumadi. "THE ACCEPTANCE OF DIGITAL FINANCE (DiFi) AMONG MUSLIM CONSUMERS IN MALAYSIA." Labuan Bulletin of International Business and Finance (LBIBF) 20, no. 2 (December 30, 2022): 107–99. http://dx.doi.org/10.51200/lbibf.v20i2.3544.
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Digital Finance (DiFi) is a promising way of promoting inclusive finance. The internet plays a significant role in promoting advancement in the financial industry, especially digital finance. There are many benefits digital finance could offer, such as greater financial inclusion, expansion of financial services, affordability, security, and convenience. Although there is an increasing number of digital finance adopters in recent years, the acceptance has not been impressive in rural areas. Many consumers in rural areas still seriously suffer from digital finance exclusion. The purpose of this study is to explore and understand the Muslim consumers' intention to use digital finance by extending the Technology Acceptance Model (TAM) with Perceived Credibility and Subjective Norm. A secondary methodology is used for this study through library research by reviewing the concepts of digital finance adoption. This conceptual paper provides an understanding of the acceptance of DiFi among Muslim consumers in Malaysia. The conceptual model of this study could contribute to researchers keen on investigating the adoption of DiFi relating to Muslim consumers. The factors presented in this study are limited. Future research should consider more measures of digital finance adoption. This paper is one of the very few attempts that examined the acceptance of digital finance among Muslim consumers in Malaysia.
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Deipenbrock, Gudula. "Digital Finance and Beyond in the Third Decade of the 21st Century - Observations with a Focus on the EU Policy and Legal Perspective." European Business Law Review 33, Issue 3 (April 1, 2022): 309–30. http://dx.doi.org/10.54648/eulr2022014.
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The paper explores critically Digital Finance in the third decade of the 21st century. Focus lies on the more general policy and legal approach to Digital Finance at EU level. The paper argues that any legal, regulatory and supervisory approach to Digital Finance has to contemplate also the broader digital transition scenario. It concludes that managing the difficult balancing act between promoting digital innovation for the good of the economy, the society of the European Union and its Member States and tackling its (high) risks appears to be one of the biggest challenges for the coming years. Fintech, financial technology, Digital Finance, financial regulation, financial supervision, digital transformation, EU Digital Finance Strategy, 2030 Digital Compass, artificial intelligence, twin green and digital transitions
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He, Jing, and Qinghai Li. "Can online social interaction improve the digital finance participation of rural households?" China Agricultural Economic Review 12, no. 2 (April 27, 2020): 295–313. http://dx.doi.org/10.1108/caer-11-2019-0213.
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PurposeDigital finance is a promising way to realize inclusive finance. However, the determinants of digital finance participation are largely unknown. This study aims to analyze the interface between social interaction and the digital finance participation of rural households and explore potential channels of social interaction to help them access digital finance.Design/methodology/approachUsing rural household survey data from China in 2017, employing the probit, ordered probit and count model, this study assesses the relationship between social interaction and digital finance.FindingsThe authors find that active online social interaction of rural households promotes digital finance participation, which also increases the depth and breadth of digital finance usage. Meanwhile, the role of traditional offline social interaction is insignificant. Contextual interaction is the channel through which online social interaction influences digital finance participation. Moreover, word-of-mouth, common topic pleasure and social norms in endogenous interactions are irrelevant. In addition, the role of online social interaction complements offline social interaction at promoting digital finance participation.Originality/valueThis study contributes to the understanding of digital finance by investigating the possible channels by which social interaction influences digital finance participation and highlight an important channel–contextual interaction, especially for online social interaction. This study expands the content of social interaction from traditional offline social interaction to online social interaction to evaluate the interface between social interaction and financial behavior more comprehensively.
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Wales, Kim. "Internet finance: Digital currencies and alternative finance liberating the capital markets." Journal of Governance and Regulation 4, no. 4 (2015): 190–201. http://dx.doi.org/10.22495/jgr_v4_i4_c1_p6.
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This article discusses how the sudden shift in policy reform and innovation has the potential to liberate the financial markets. The economic potential of internet finance is beginning to take hold across the capital markets as industries like Peer – to – Peer Lending, Equity and Debt based Crowdfunding and virtual currencies and cryptocurrencies which are types of digital currency are quickly transforming the way businesses are being financed. From borrowing and lending, buying and selling securities, to conducting wire transfers internationally, these innovations are creating a new class and generation of investors will source investments opportunities. Helping institutions and governments assess risks and manage performance in order to determine where to deploy capital; and showing signs of lessening the inequality gap. Following the neolithic agricultural revolution and the industrial revolution, this new revolution will enable more people to access financial services in less traditional ways, especially the unbanked world with its huge potential. These new financial opportunities, such as peer – to - peer (P2P) lending, will be discussed and examined, and we will stress how they can allow people to bypass current barriers in the global economy. We conclude by arguing that all these developments, energized by the efforts of innovators and entrepreneurs, have the potential to radically transform the world in which we live, while promoting the core values of industrialized societies including democracy, capital formation, sustainability, and equality without solely relying on tax increases.
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Hu, Sungho. "Analysis of Effects of Digital Finance Characteristics on Housing Finance Intention." Housing Finance Research 6, no. 2 (December 2022): 73–97. http://dx.doi.org/10.52344/hfr.2022.6.2.73.
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Yao, Lianying, and Xiaoxiao Ma. "Has digital finance widened the income gap?" PLOS ONE 17, no. 2 (February 14, 2022): e0263915. http://dx.doi.org/10.1371/journal.pone.0263915.
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Using the statistical data of 280 prefectural-level cities in China from 2011 to 2020, this paper empirically tests the relationship between digital finance and residents’ income in a linear and nonlinear model based on the G-J model theory, respectively. The study aims to discuss and analyze the impact of digital finance development on income distribution in the context of the current situation of digital finance development in China and further explore how to make digital finance better regulate the income distribution of residents. The innovation of this paper is to use two nonlinear methods to verify the Kuznets effect and threshold characteristics of digital financial development affecting the income distribution of residents based on linear analysis and explore the relationship between n digital economic development the current income gap more comprehensively. The study shows a Kuznets effect of digital finance development on the income distribution of Chinese residents. Thus, most regions in China have not yet crossed the inflection point of the bell-shaped curve, and the income gap within areas will continue to increase with the development of digital finance. By constructing a threshold model, it is found that the positive effect of digital finance on income disparity may initially increase with the increase of regional economic level. Still, when the regional economic development reaches a higher stage, the effect will tend to fall back. As a result, the negative impact of digital finance development on residents’ income distribution will be significantly reduced at that time.
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Nurjannah, Afifah Zahroh, Berlian Thaeba Noevus, and Husnia Salsabila Fathya. "Digital Finance Influence for MSMEs in Indonesia." Proceedings Series on Social Sciences & Humanities 7 (August 24, 2022): 16–18. http://dx.doi.org/10.30595/pssh.v7i.467.
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This article discusses the impact of digital finance on Micro, Small and Medium Enterprises (MSMEs) in Indonesia. With a qualitative approach, this article emphasizes the literature study method. This article aims to provide information related to how digital finance affects MSMEs in Indonesia. Based on the results of research conducted, the existence of digital finance has a significant impact on MSMEs in Indonesia, because digital finance provides several benefits including being able to save time, minimize errors in calculations, data and information security will be more secure, and can facilitate business financial management.
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Rasheed, Rabia, Sulaman Hafeez Siddiqui, Iqbal Mahmood, and Sajjad Nawaz Khan. "Financial Inclusion for SMEs: Role of Digital Micro-financial Services." Review of Economics and Development Studies 5, no. 3 (July 30, 2019): 429–39. http://dx.doi.org/10.26710/reads.v5i3.686.
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SMEs paly major role in poverty reduction and employment generation, therefore experts considered this sector as engine of economic growth. However, access to finance in developing countries is one of major issue in development of SME sector as well as hurdle in economic growth. Financial institutions banking and non-banking shows reluctant behaviour in providing financing to SMEs and the issue is more severe in emerging economies. Bank financing has been found as main source of funds for SMEs in Pakistan, however, to obtain these funds not easy for small and medium firms. Recently digital micro financial services have been introduced by a number of micro finance banks. Current study examines the role of digital micro financial services in enhancing SMEs’ access to finance and thereby enabling a more inclusive financial market for SMEs especially in context of emerging and developing economies. By digging out the existing literature and secondary data, the study discusses that digital financial services have greatly helped owner managers of SMEs in smooth management of their transactions and finances. The study concludes that to strengthen SME sector for economic growth, it is important to further reduce the cost of using digital financial services and increase the financial product portfolio on digital platforms.
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Shi, Shanshan. "Study on the Impact of Digital Finance on Carbon Emissions." BCP Business & Management 21 (July 20, 2022): 161–69. http://dx.doi.org/10.54691/bcpbm.v21i.1189.
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This paper explores the relationship between digital finance and carbon emissions using a Two-way Fixed Effects Model based on provincial panel data from 2011-2019. The empirical findings show that there is a significant positive contribution of digital finance to carbon emissions, but there is an inverted U relationship between the two. The mechanism analysis reveals that digital finance has a more significant impact on carbon emissions in areas with less optimized industrial structure. Further, it is found that the effect of digital finance on carbon emissions is heterogeneous in three dimensions of digital finance and in different regions. Finally, based on the above analysis, the corresponding policy recommendations are put forward. The findings of this paper not only enrich the literature on digital finance and carbon emissions, but also provide a reference significance for the relevant departments in China to develop digital finance and control carbon emissions.
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Yuan, Boyu, Kangyu Zhao, and Xuekun Shen. "Digital Finance and Corporate Value: An Empirical Evidence from China." BCP Business & Management 15 (December 30, 2021): 76–82. http://dx.doi.org/10.54691/bcpbm.v15i.222.
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Based on the Peking University Digital Financial Inclusive Index and SME data, this paper examines the relationship between digital financial development and corporate value. we found that the development of digital finance has a significant positive impact on corporate value. The heterogeneity analysis found that the development of digital finance has a greater impact on enterprises below the designated size, which reflects the inclusive nature of digital finance. This paper shows that digital finance is an important supplement to traditional financial services.
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Yu, Mingtao, and Aiguo Yan. "Can Digital Finance Accelerate the Digital Transformation of Companies? From the Perspective of M&A." Sustainability 14, no. 21 (November 1, 2022): 14281. http://dx.doi.org/10.3390/su142114281.
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Digital M&A, known as digital merger and acquisition, is a vital tool for companies to achieve digital transformation and play an essential role in sustainable development. Corporate digital M&A is inseparable from financial support. Therefore, based on the M&A data of Chinese A-share listed companies from 2011–2020, this paper systematically analyzes the impact effect of digital finance on corporate digital M&A in combination with the Peking University Digital Inclusive Finance Index. The results show that: (1) Digital finance development contributes to the implementation of digital M&A by enterprises, and the higher the level of development, the more likely enterprises are to engage in digital M&A. (2) Financing constraints and the innovation capacity play a partially intermediary role between digital finance and digital M&A. (3) Executive age and internal control negatively moderate the relationship between digital finance and digital M&A, and bank competition positively moderates the relationship. These research findings provide useful lessons for promoting digital M&A and accelerating digital transformation in enterprises.
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Xu, Moshu. "Review and Prospect of Digital Finance Research." Scientific and Social Research 4, no. 1 (January 20, 2022): 80–88. http://dx.doi.org/10.36922/ssr.v4i1.1317.
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Digital finance plays a prominent role in promoting economic development, improving efficiency, and reducing risks. By combing and summarizing literatures, this paper points out the context and key points of current digital finance research, which include network financing and digital currency, as well as shows the important achievements in the field of digital finance research. It is known that network financing takes many forms. Its driving factors include “hard power,” “soft power,” and the collective behavior of investors. The impact of network financing on the existing financial system is two-sided. Private digital currencies and central bank digital currencies have different design principles. It is generally believed that private digital currency cannot replace the currency, but central bank digital currency is able to do so. Both private and central bank digital currencies have some drawbacks that need to be addressed.
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Zhu, Yating. "Research on the Impact of Digital Inclusive Finance on High-Quality Economic Development." Frontiers in Business, Economics and Management 4, no. 3 (July 31, 2022): 38–43. http://dx.doi.org/10.54097/fbem.v4i3.1069.
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To overcome the shortcomings of traditional finance, digital inclusive finance has emerged to improve the availability and utilization of financial resources in the original financial development model and reduce the cost of financial services, and digital inclusive finance has become an important driver of high-quality economic development. Based on the panel data of 30 provincial regions in China from 2011 to 2019, this paper explores the impact mechanism and effect of digital inclusive finance on high-quality economic development. It is found that: digital inclusive finance has a direct and significant positive impact on high-quality economic development. In terms of regional heterogeneity, the promotion effect of digital inclusive finance on high-quality economic development is significantly stronger in the eastern regions than in the central and western regions. The mechanism test shows that residential consumption is an important transmission mechanism for digital inclusive finance to influence high-quality economic development. Finally, countermeasures such as strengthening the construction of digital inclusive finance infrastructure, formulating regional differentiated development strategies, launching product customized financial services and building a sound regulatory system are proposed.
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Ma, Yingwei, Zihong Chen, and Jijia Zhu. "A Study on the Impact of China's Digital Inclusive Finance on Green Finance in Guangdong Province Based on ANN-MLP Algorithm." Highlights in Science, Engineering and Technology 4 (July 26, 2022): 157–66. http://dx.doi.org/10.54097/hset.v4i.860.
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Green financial markets and products play an essential role in financial support for high-quality development and the construction of ecological civilization as practical subjects for realizing a green economy. This paper selects Guangdong Province as the research object, and based on a total of 120 data on various indicators of green finance and digital inclusive finance in Guangdong Province from 2011 to 2020, it firstly establishes green finance and digital inclusive finance indicator system, and combines the neural network technology based on multi-layer perceptron (MLP) to build a prediction model of the impact of digital inclusive finance on green finance in Guangdong Province. After the model training and measurement, eight important diagrams of independent variables were finally obtained to illustrate the impact of digital inclusive finance on green finance respectively. This provides a theoretical reference for the government to introduce relevant policies to support the development of digital inclusive finance and green finance.
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Zhao, Hui, Yaru Yang, Ning Li, Desheng Liu, and Hui Li. "How Does Digital Finance Affect Carbon Emissions? Evidence from an Emerging Market." Sustainability 13, no. 21 (November 8, 2021): 12303. http://dx.doi.org/10.3390/su132112303.
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The existing literature finds that finance has a significant impact on carbon emissions, but there is a lack of theoretical explanation on whether and how digital finance, an important new financial form, affects carbon emissions. This paper uses balanced panel data at the provincial level in China from 2011 to 2018 as a sample to empirically test the relationship between digital finance and carbon emissions and introduces three exogenous events to test the impact of policy shocks. The results show that digital finance has a significant inhibitory effect on carbon emissions; the implementation of the policies of ‘G20 High-Level Principles for Digital Financial Inclusion’, ‘Environmental Protection Tax Law of the People’s Republic of China’, and ‘Interim measures for the management of greenhouse gas voluntary emission reduction’ strengthens the suppression of carbon emissions by digital finance, and the robustness test also supports the protection of digital finance. The research conclusions of this article provide theoretical evidence for understanding the relationship between digital finance and other new financial formats and carbon emissions and provide an empirical basis for policy-makers to promote the development of digital finance to reduce carbon emissions.
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Xiao, Quan, Yu Wang, Haojie Liao, Gang Han, and Yunjie Liu. "The Impact of Digital Inclusive Finance on Agricultural Green Total Factor Productivity: A Study Based on China’s Provinces." Sustainability 15, no. 2 (January 9, 2023): 1192. http://dx.doi.org/10.3390/su15021192.
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Digital inclusive finance is key to China’s agriculture and low-carbon economics. The panel data for China’s 30 provinces were chosen from 2011 to 2019. An SBM GML model was applied in the thesis to measure agricultural green total factor productivity (GTFP), and to determine how Digital Inclusive Finance would affect agricultural GTFP a two-way fixed effect model was created. This study found that, from 2011 to 2019, the advancement of Digital Inclusive Finance could effectively enhance and drive the continuous increase of agricultural GTFP in China. Specifically, agricultural GTFP is increased by 0.288% as a result of every 1% rise in the Digital Inclusive Finance index; Digital Inclusive Finance helps agricultural green technologies advance and become more effective. According to a mechanism test, Digital Inclusive Finance increases agricultural GTFP growth by improving green technology innovation. Further analysis shows that the development of agricultural GTFP is significantly related to the depth and digitalization of Digital Inclusive Finance, but not in terms of its breadth. The above findings provide new ideas and empirical evidence for revealing the connection among Digital Inclusive Finance and agricultural GTFP and, on this basis, designing and improving relevant policies.
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Wang, Zhaolin. "Digital Finance, Financing Constraint and Enterprise Financial Risk." Journal of Mathematics 2022 (March 14, 2022): 1–9. http://dx.doi.org/10.1155/2022/2882113.
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With the rapid development of the digital economy, digital finance, as a financial innovation combining Internet information technology with traditional finance, plays an essential role in the financial risk of microenterprises and macroeconomic operations. In this paper, the digital financial inclusion index at the provincial level is matched with the microdata of listed companies in Shanghai and Shenzhen stock markets. And, the panel data from 2011 to 2020 are set up from the theoretical and empirical analysis of digital finance on the impact of enterprise financial risk and its mechanism. Firstly, the development of digital finance in China has significantly reduced enterprise financial risk. In order to control the endogeneity, the Bartik instrumental variable is used to select the instrumental variable. Secondly, financing constraint is the function mechanism of digital finance to reduce enterprise financial risk. Thirdly, for enterprises with low debt levels and enterprises located in the eastern region, digital finance plays a more critical role in reducing financial risk.
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Wang, Ke-Liang, Rui-Rui Zhu, and Yun-He Cheng. "Does the Development of Digital Finance Contribute to Haze Pollution Control? Evidence from China." Energies 15, no. 7 (April 5, 2022): 2660. http://dx.doi.org/10.3390/en15072660.
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Mitigating haze pollution is of practical significance to the green economy, and the development of digital finance may help achieve this goal. However, the effect of digital finance on haze pollution has not been systematically explained. Based on Chinese prefectural panel data for the 2011–2016 period, this study on haze concentration, technological innovation, and digital inclusive finance index as the dependent variable, mediating variable, and the core independent variable, respectively, investigated whether digital finance has improved haze pollution control in China using fixed effect (FE) and random effect (RE) models, a mediating effect model, a threshold panel model, and a dynamic spatial Durbin model (SDM). Four key results were obtained. (1) Digital finance significantly decreased haze pollution. After accounting for potential endogeneity, this conclusion was still valid. (2) The analysis of the influencing mechanism showed that digital finance was conducive to haze reduction by promoting regional innovation capabilities. (3) There was a nonlinear relationship between the influence of digital finance and haze pollution. Specifically, the impact of digital finance on haze pollution has gradually increased with the improvement of regional innovation capabilities. (4) Haze pollution displayed a significant positive spatial agglomeration in China. Digital finance can alleviate local haze pollution but will aggravate haze pollution in adjacent areas. Based on the results of this study, some pertinent policy suggestions were proposed.
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Lu, Yanxing, Yiding Wang, and Kaixin Qiao. "Research on the impact of digital inclusive finance on private enterprise’s leverage level with financial constraint as a mediating variable." BCP Business & Management 25 (August 30, 2022): 605–14. http://dx.doi.org/10.54691/bcpbm.v25i.1886.
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Along with the advent of the digital economy, digital inclusive finance has increasingly played an important role in alleviating the enterprises’ financing difficulties and contributing to healthy economic development. This paper examines the effect, mediating mechanism and heterogeneity of digital inclusive finance on the leverage of private enterprises by empirically analyzing the private enterprises on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2011-2017. It shows that digital inclusive finance can significantly reduce the leverage level of private enterprises. Also, it can be achieved mainly through alleviating enterprises’ financing constraints. The heterogeneity analysis shows that the dual effect of digital inclusive finance in alleviating financing constraints and reducing leverage level is more significant for large private enterprises and middle-western regions. In addition, the impact of digital inclusive finance on reducing short-term leverage is more significant compared to long-term leverage. Therefore, this paper enriches the research related to the impact of digital inclusive finance on enterprises at the micro level, and provides empirical evidence for promoting the development of digital inclusive finance and optimizing the financial supply system.