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Abstract
This study empirically examines the influence of digital finance on inefficient investment in Chinese non-financial firms (2011-2019). Results show that digital finance mitigates inefficient investment, particularly in non-state firms and regions with stronger institutional development. This effect operates through resource and governance mechanisms, with digital finance's breadth of coverage, use depth, and support services all contributing to reduced inefficient investment. Furthermore, digital finance improves overall firm investment levels.
Publisher
Humanities and Social Sciences Communications
Published On
Jan 01, 2024
Authors
Liuyang Xue, Junan Dong, Shiyao Jiang
Tags
digital finance
inefficient investment
Chinese firms
institutional development
resource mechanisms
governance

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