Open AccessFintech development and green innovation
Author(s) -
Yuchen Zhang,
Xinyi Lai
Publication year - 2022
Publication title -
bcp business and management
Language(s) - English
Resource type - Journals
ISSN - 2692-6156
DOI - 10.54691/bcpbm.v18i.590
Subject(s) - business , industrial organization , mediation , information asymmetry , technology innovation , green innovation , test (biology) , mechanism (biology) , empirical research , finance , mathematics , statistics , paleontology , philosophy , epistemology , political science , law , biology
Based on the data of Chinese A-share listed companies from 2011 to 2018, We study the impact of the development of fintech on enterprises’ green innovation. In the empirical analysis, we use the two-way fixed effect model to address fintech’s influence on green innovation, then using mediation effect test and robust test to further analyze and verify this effect. This study finds that the development of fintech can significantly promote the level of green innovation of enterprises. The mechanism could be that the information asymmetry: 1) reduces the degree of information asymmetry; 2) alleviates the financing constraints; 3) improves the willingness to invest in innovation.