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Does digital finance impact debt concentration of Chinese firms?

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  • Caiyun Chen
  • Minghuan Li

Abstract

We investigate the relation between digital finance and debt concentration in capital structures of firms. Measuring digital finance with a comprehensive index, we show that digital finance is indeed related to more concentrated debt structures of firms. Turning to the sub-indices of digital finance, coverage breadth and usage depth of digital finance increase firms’ debt concentration, while digitization degree is not a central concern for firms. The link between digital finance and debt concentration is stronger for companies with high level of information asymmetry and high default risk.

Suggested Citation

  • Caiyun Chen & Minghuan Li, 2023. "Does digital finance impact debt concentration of Chinese firms?," Applied Economics Letters, Taylor & Francis Journals, vol. 30(7), pages 871-874, April.
    • Handle: RePEc:taf:apeclt:v:30:y:2023:i:7:p:871-874
    DOI: 10.1080/13504851.2022.2027330
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    Cited by:

    1. Ren, Xiaohang & Zeng, Gudian & Sun, Xianming, 2023. "The peer effect of digital transformation and corporate environmental performance: Empirical evidence from listed companies in China," Economic Modelling, Elsevier, vol. 128(C).

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