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The asymmetric effects of digital inclusive finance’s breadth and depth on the digital transformation of agribusinesses

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  • Li, Wenyi
  • Yang, Zhen
  • Wang, Wenna

Abstract

Drawing on data from agribusinesses spanning 2000 to 2022, we uncover the non-linear effects of digital inclusive finance breadth and depth on their digital transformation. First, a U-shaped relationship exists between the breadth and depth of digital inclusive finance and the digital transformation of agribusinesses. Second, cash flow moderates the U-shaped relationship between the breadth of digital inclusive finance and digital transformation. This moderation flattens the U-shape, potentially inverting it beyond a certain point. Notably, cash flow does not moderate the relationship between the depth of digital inclusive finance and digital transformation. Third, the U-shaped relationship between the breadth and depth of digital inclusive finance and agribusinesses’ digital transformation is significant only in the eastern and central regions and is observed exclusively before the onset of the COVID-19 pandemic.

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  • Li, Wenyi & Yang, Zhen & Wang, Wenna, 2025. "The asymmetric effects of digital inclusive finance’s breadth and depth on the digital transformation of agribusinesses," Finance Research Letters, Elsevier, vol. 72(C).
    • Handle: RePEc:eee:finlet:v:72:y:2025:i:c:s1544612324015575
    DOI: 10.1016/j.frl.2024.106528
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    1. Hongcheng Ling & Xiaohong Ling, 2025. "The impact of digital inclusive finance on enterprise digital technology innovation: empirical evidence from the Chinese manufacturing industry," Palgrave Communications, Palgrave Macmillan, vol. 12(1), pages 1-19, December.

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