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The influence of financial innovation on enterprise risk management

Author

Listed:
  • Guo, Yixuan
  • Ge, Hongyan
  • Liao, Zhicheng
  • Hu, Yaoyu
  • Huang, Bihui

Abstract

In recent years, financial innovation has altered the external financial environment and presented new challenges to enterprise risk management. This article constructs a financial innovation index and performs regression estimates across four latitudes using data from listed Chinese companies and provincial levels collected over 10 years. The results show that the greater the level of regional financial innovation, the stronger the effect of enterprise risk management, but enterprise financing constraints limit the effect. A financial innovation index system aligned with the Chinese situation and providing new evidence for financial development is built.

Suggested Citation

  • Guo, Yixuan & Ge, Hongyan & Liao, Zhicheng & Hu, Yaoyu & Huang, Bihui, 2024. "The influence of financial innovation on enterprise risk management," Finance Research Letters, Elsevier, vol. 62(PA).
    • Handle: RePEc:eee:finlet:v:62:y:2024:i:pa:s1544612324001284
    DOI: 10.1016/j.frl.2024.105098
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    More about this item

    Keywords

    Financial innovation; Enterprise risk management; Financing constraints;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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