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Digital finance and corporate digital innovation: The roles of traditional financial institutions: A pre-registered report

Author

Listed:
  • Liu, Jialin
  • Bao, Xuetong
  • Wang, Xianda
  • Xie, Xuanli
  • Xu, Jianguo

Abstract

Difficulties in accessing external funding pose a significant barrier to corporate digital innovation. This paper investigates whether digital finance can alleviate financing constraints and thereby foster corporate digital innovation, with a particular focus on the digital transformation of traditional financial institutions. The study categorizes digital innovation into six types (artificial intelligence, cloud computing, security technology, big data, communication networks, and electronic chips) and examines the distinct impact of digital finance on each. Furthermore, the paper analyzes the underlying mechanisms through which digital finance influences corporate digital innovation, specifically exploring the roles of relieving capital misallocation and promoting firm competition. A comparative analysis is also conducted to assess the differential effects of FinTech firms versus traditional financial institutions on promoting digital innovation. This research provides valuable insights and empirical evidence to support the effective channeling of financial resources toward high-quality enterprise innovation.

Suggested Citation

  • Liu, Jialin & Bao, Xuetong & Wang, Xianda & Xie, Xuanli & Xu, Jianguo, 2026. "Digital finance and corporate digital innovation: The roles of traditional financial institutions: A pre-registered report," Pacific-Basin Finance Journal, Elsevier, vol. 98(C).
    • Handle: RePEc:eee:pacfin:v:98:y:2026:i:c:s0927538x26000715
    DOI: 10.1016/j.pacfin.2026.103125
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    Keywords

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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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