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The Development of Digital Financial Inclusion and Corporate Financialization

In: Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)

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  • Siyan Liu

    (University of Sydney, Engineering Faculty)

Abstract

The digital economy and digital finance are developing rapidly in China. This paper examines the relationship between the development of digital finance and the degree of corporate financialization. The paper uses computer technology and numerical simulation methods to estimate and formulate OLS and Panel FE models, which are used to answer the question of the impact of digital technology on the financialization of firms. The empirical results show that the development of digital finance promoted the financialization of enterprises. Benchmark regression shows that a 1 unit increase in the Digital Finance Index leads to a 0.04% increase in financialization. Heterogeneity analysis shows no scale effect in the impact of digital finance development on corporate financialization. Based on this, this paper suggests that deviating from the real to the virtual caused by over-financialization should be avoided in the digital era.

Suggested Citation

  • Siyan Liu, 2023. "The Development of Digital Financial Inclusion and Corporate Financialization," Advances in Economics, Business and Management Research, in: Vilas Gaikar & Min Hou & Sikandar Ali Qalati (ed.), Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022), pages 13-23, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-054-1_3
    DOI: 10.2991/978-94-6463-054-1_3
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