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Fintech, financing constraints and corporate green innovation

Author

Listed:
  • Li, Yuan
  • Chu, Erming
  • Nie, Shiqi
  • Peng, Xiaoyan
  • Yi, Yuyao

Abstract

This study comprehensively analyzes the panel data of 4195 listed companies in the A-share market during the period from 2011 to 2022, aiming to explore the mechanism of fintech's influence on corporate green innovation. The study adopts a two-way fixed effects model to confirm the positive association between fintech and corporate innovation, and reveals the role of fintech in promoting corporate innovation output by alleviating financing constraints with the help of a mediated effects model. The findings suggest that FinTech not only directly promotes firms' innovation activities, but also provides important support for firms' innovation by reducing financing constraints, a finding that is confirmed by a series of robustness tests.

Suggested Citation

  • Li, Yuan & Chu, Erming & Nie, Shiqi & Peng, Xiaoyan & Yi, Yuyao, 2024. "Fintech, financing constraints and corporate green innovation," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    • Handle: RePEc:eee:finana:v:96:y:2024:i:pa:s1057521924005829
    DOI: 10.1016/j.irfa.2024.103650
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    References listed on IDEAS

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    1. Tan, Changchun & Mo, Lingyu & Wu, Xiaomeng & Zhou, Peng, 2024. "Fintech development and corporate credit risk: Evidence from an emerging market," International Review of Financial Analysis, Elsevier, vol. 92(C).
    2. Yuqiang Cao & Zhiwu Chen & Meiting Lu & Zihui Xu & Yizhou Zhang, 2023. "Does FinTech Constrain Corporate Misbehavior? Evidence from Research and Development Manipulation," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 59(10), pages 3129-3151, August.
    3. Shixian Ling & Tianyue Pei & Zhaohui Li & Zhiping Zhang, 2021. "Impact of COVID-19 on Financial Constraints and the Moderating Effect of Financial Technology," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 57(6), pages 1675-1688, May.
    4. Xu, Jie & Chen, Fu & Zhang, Weiwei & Liu, Yiting & Li, Tingting, 2023. "Analysis of the carbon emission reduction effect of Fintech and the transmission channel of green finance," Finance Research Letters, Elsevier, vol. 56(C).
    5. Li, Bo & Du, Jianguo & Yao, Tianhang & Wang, Quanding, 2023. "FinTech and corporate green innovation: An external attention perspective," Finance Research Letters, Elsevier, vol. 58(PD).
    6. Dicuonzo, Grazia & Palmaccio, Matteo & Shini, Matilda, 2024. "ESG, governance variables and Fintech: An empirical analysis," Research in International Business and Finance, Elsevier, vol. 69(C).
    7. Xie, Jiayue & Chen, Lu & Liu, Yan & Wang, Shengnan, 2023. "Does fintech inhibit corporate greenwashing behavior?-Evidence from China," Finance Research Letters, Elsevier, vol. 55(PB).
    8. Trotta, Annarita & Rania, Francesco & Strano, Eugenia, 2024. "Exploring the linkages between FinTech and ESG: A bibliometric perspective," Research in International Business and Finance, Elsevier, vol. 69(C).
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