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How does digital inclusive finance promote the financial performance of Chinese cultural enterprises?

Author

Listed:
  • Zhang, Weiwei
  • Chen, Fu
  • Liu, Enru
  • Zhang, Yichi
  • Li, Fangfang

Abstract

This article examines the differential impacts of digital inclusive finance on the financial performance of cultural enterprises, and explores the mediating role of research and development (R&D) investments in this relationship. The research found that, first, the development of digital inclusive finance is beneficial for improving the financial performance of cultural enterprises, with even stronger effects observed under the dimension of coverage breadth. Second, a mediating effect exists through cultural enterprise R&D investment. The development of digital inclusive finance can promote increased R&D investment by cultural enterprises, thereby assisting them in continuous innovation and achieving enhanced financial performance. Third, the impact of digital inclusive finance on the financial performance of cultural enterprises in China displays distinct regional variations. The influence of digital inclusive finance is notably more pronounced on the financial performance of cultural enterprises in central and northeastern regions, while the correlations in eastern and western regions are not significant.

Suggested Citation

  • Zhang, Weiwei & Chen, Fu & Liu, Enru & Zhang, Yichi & Li, Fangfang, 2023. "How does digital inclusive finance promote the financial performance of Chinese cultural enterprises?," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:pacfin:v:82:y:2023:i:c:s0927538x23002172
    DOI: 10.1016/j.pacfin.2023.102146
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