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Maturity mismatched investment, digital financial inclusion, and digital orientation: Evidence from China

Author

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  • Xu, Meng
  • Yang, Zhonghai
  • Lin, Yu-En
  • Li, Gaobo

Abstract

The study examines how maturity mismatched behavior influences firms' digital orientation, and the moderating effect of digital financial inclusion (DFI) on maturity mismatched behavior. We analyzed a sample of over 3000 Chinese listed firms over the period 2011–2020 and identified the “passive mismatch view.” We found that firms' maturity mismatched investment could impede their digital orientation and that DFI further weakens the negative relation between firms' maturity mismatched investment and digital orientation. We further find that maturity mismatched investment impedes digital orientation for firms with more agent problems and maturity mismatched investment could impede its digital orientation through weakening managerial attitude toward potential risks.

Suggested Citation

  • Xu, Meng & Yang, Zhonghai & Lin, Yu-En & Li, Gaobo, 2024. "Maturity mismatched investment, digital financial inclusion, and digital orientation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 91(C).
    • Handle: RePEc:eee:finana:v:91:y:2024:i:c:s1057521923004738
    DOI: 10.1016/j.irfa.2023.102957
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