Open AccessThe Development of Digital Finance and Financing Constraints of Small and Medium-sized Enterprises
Author(s) -
Yihan Chen,
Wei Kaiwen,
Ruiyao Wang
Publication year - 2021
Publication title -
bcp business and management
Language(s) - English
Resource type - Journals
ISSN - 2692-6156
DOI - 10.54691/bcpbm.v15i.212
Subject(s) - finance , small and medium sized enterprises , constraint (computer aided design) , business , index (typography) , robustness (evolution) , industrial organization , computer science , mechanical engineering , biochemistry , chemistry , world wide web , engineering , gene
As a part of the national economy, Small and Medium-sized enterprises play a role in promoting a country's economy, but most studies show that financing constraints hinder the innovation and development of small and Medium-sized enterprises. This paper analyzed the effect of descriptive statistics, robustness test, and heterogeneity analysis to explore the impact of digital financial development on small and Medium-sized enterprises' financing constraints. Research shows that with the increase of the digital finance index, financing constraint tends to decrease. Therefore, the development of digital finance plays a positive role in the financing constraints of small and Medium-sized enterprises.