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Can digital finance reduce the risk of corporate bankruptcy?

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  • Liu, Chuang
  • Tang, Weiming

Abstract

This paper focuses on the impact of digital finance development on corporate bankruptcy risk. Using all A-share listed companies in China from 2012 to 2021 as the research subjects, it employs data such as the Digital Inclusive Finance Index jointly compiled by the Peking University Digital Finance Research Center and Ant Technology Group to conduct the study. The research finds that digital finance development can effectively reduce corporate bankruptcy risk, mainly through pathways such as lowering corporate leverage levels and improving corporate governance, and has a more significant impact on large-scale enterprises.

Suggested Citation

  • Liu, Chuang & Tang, Weiming, 2025. "Can digital finance reduce the risk of corporate bankruptcy?," Finance Research Letters, Elsevier, vol. 86(PC).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pc:s1544612325018343
    DOI: 10.1016/j.frl.2025.108580
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