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The impact of digital finance on the digital transformation of cultural industry enterprises

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  • Ni, Yuwei
  • Gu, Hao
  • Ou, Chengxiong
  • Wu, Lei
  • Song, Xi

Abstract

This study systematically examines the impact mechanisms and pathways of digital finance on the digital transformation of cultural industry listed enterprises using data from 2011 to 2023. The findings reveal that: (1) The development of digital finance significantly accelerates the digital transformation process of cultural industry listed enterprises, with coverage breadth and usage depth playing particularly prominent driving roles, effectively alleviating the financial constraints faced by traditional cultural enterprises due to their asset-light characteristics; (2) Digital finance indirectly promotes corporate digital transformation by optimizing the business environment; (3) The facilitating effect of digital finance on the digital transformation of non-state-owned cultural enterprises is significantly stronger than that of state-owned enterprises.

Suggested Citation

  • Ni, Yuwei & Gu, Hao & Ou, Chengxiong & Wu, Lei & Song, Xi, 2025. "The impact of digital finance on the digital transformation of cultural industry enterprises," Finance Research Letters, Elsevier, vol. 85(PA).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pa:s1544612325011079
    DOI: 10.1016/j.frl.2025.107849
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    References listed on IDEAS

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    1. Xu, Wanshu & Wang, Haoyu, 2026. "Judicial efficiency, carbon emission trading regulation, and regional financial risk," Finance Research Letters, Elsevier, vol. 90(C).
    2. Sun, Yaoxin, 2025. "A study of the impact of digital finance on the economic development of Latin American countries," International Review of Financial Analysis, Elsevier, vol. 107(C).

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