Mou Yanhong
Chongqing City Management College, Chongqing, China.
Heliyon. 2024 Jul 2;10(14):e33965. doi: 10.1016/j.heliyon.2024.e33965. eCollection 2024 Jul 30.
This study aims to fill a gap in our knowledge by analyzing how digital financing has affected technological innovation in China's firms across different growth phases. This article investigates the relationship between technological innovation efficiency and digital finance in China's A-share listed corporations between 2012 and 2022 using basic logistic modelling. Its main goal is to comprehend how digital finance affects these businesses' technological innovation efficiency from various angles. The study concludes that digital finance significantly improves the efficiency of technological innovation; more importantly, the Digital Finance Adoption Rate (DFAR) has a more significant influence than the Digital Finance Level (DFL). According to the Digital Transformation Maturity (DTM) scale, digital finance helps businesses transform digitally, increasing the effectiveness of technological innovation. State-owned businesses are more affected by the influence of digital finance on innovation efficiency than non-state-owned businesses. Other factors, including enterprise lifecycle, innovation investment, digital leadership, revenue strategies, and market rivalry, also shape the relationship between digital finance and technical innovation efficiency. To increase innovation efficiency, particularly in state-owned businesses, the study suggests expanding access to and adoption of digital finance. It also means leveraging elements such as enterprise lifecycle, innovation investment, digital leadership, revenue strategies, and market competition to spur more technological innovation. The impact of digital finance on technological innovation at different phases of organizational growth in China highlights the need for customized methods to harness its potential.
本研究旨在通过分析数字金融如何影响中国处于不同成长阶段企业的技术创新，来填补我们在这方面知识的空白。本文运用基本逻辑模型，对2012年至2022年间中国A股上市公司的技术创新效率与数字金融之间的关系进行了调查。其主要目标是从多个角度理解数字金融如何影响这些企业的技术创新效率。研究得出结论，数字金融显著提高了技术创新效率；更重要的是，数字金融采用率（DFAR）比数字金融水平（DFL）的影响更大。根据数字转型成熟度（DTM）量表，数字金融有助于企业进行数字化转型，提高技术创新的有效性。国有企业比非国有企业受数字金融对创新效率影响的程度更大。企业生命周期、创新投资、数字领导力、收入策略和市场竞争等其他因素，也塑造了数字金融与技术创新效率之间的关系。为了提高创新效率，特别是国有企业的创新效率，该研究建议扩大数字金融的获取和采用。这还意味着利用企业生命周期、创新投资、数字领导力、收入策略和市场竞争等因素来激发更多的技术创新。数字金融对中国组织成长不同阶段技术创新的影响凸显了采用定制方法来挖掘其潜力的必要性。
