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A Study on the Impact of Digital Finance on Innovation of Photovoltaic Enterprises-Based on Panel Data of Listed Photovoltaic Companies

In: Proceedings of the 5th International Conference on Economic Management and Big Data Application (ICEMBDA 2024)

Author

Listed:
  • Ying Zhang

    (Kunming University, School of Economics and Management)

  • Hongshao Duan

    (Kunming University, School of Economics and Management)

  • Xinlong Wu

    (Kunming University, School of Economics and Management)

Abstract

This study explores the impact of digital finance on the innovation of listed PV companies based on panel data of listed PV companies from 2018-2022. The article summarizes the data through descriptive statistics, elaborates the relationship between variables using correlation analysis, and further explores the path of financing constraints through panel regression models. It is found that the development of digital finance has a significant positive impact on the innovation of PV listed companies, and the impact is heterogeneous, with larger companies being promoted more significantly by digital finance. Digital finance provides PV listed enterprises with more convenient financing channels, reduces financing costs, improves information transparency, improves risk control and other paths, so that they can obtain more innovation opportunities and resources, thus promoting their technological innovation and business model innovation.

Suggested Citation

  • Ying Zhang & Hongshao Duan & Xinlong Wu, 2024. "A Study on the Impact of Digital Finance on Innovation of Photovoltaic Enterprises-Based on Panel Data of Listed Photovoltaic Companies," Advances in Economics, Business and Management Research, in: Kun Zhang & Hang Luo & Tang Yao & Hongbo Li (ed.), Proceedings of the 5th International Conference on Economic Management and Big Data Application (ICEMBDA 2024), pages 280-288, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-638-3_28
    DOI: 10.2991/978-94-6463-638-3_28
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