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Digital finance and enterprise trade and investment: The moderating effect of CEO characteristics

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  • Ding, Guangyuan
  • Li, Zhenzu
  • Shen, Hebin

Abstract

This research primarily focuses on examining the relationship between digital finance and corporate investment. Based on a sample of publicly listed companies in China from 2011 to 2022, we find a significant positive relationship between the development of digital finance and cross-border trade and investment of enterprises. Moreover, executive characteristics can profoundly moderate the main relationship we identified. Specifically, the positive relationship is more evident among firms with older CEOs and long-tenured CEOs. Our results are robust to a series of econometric tests. Our research contributes to the literature on digitalization and corporate investment.

Suggested Citation

  • Ding, Guangyuan & Li, Zhenzu & Shen, Hebin, 2024. "Digital finance and enterprise trade and investment: The moderating effect of CEO characteristics," Finance Research Letters, Elsevier, vol. 64(C).
    • Handle: RePEc:eee:finlet:v:64:y:2024:i:c:s1544612324005014
    DOI: 10.1016/j.frl.2024.105471
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    References listed on IDEAS

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    Cited by:

    1. Jiang, Qian & Zhang, Chaoshuai & Wei, Qianqing, 2025. "Digital technology adoption and enterprise investment efficiency," Finance Research Letters, Elsevier, vol. 72(C).

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