Digital Economy Development and Trade Credit Supply: Evidence from Chinese A-Share Listed Firms

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-04-11 DOI:10.1016/j.ribaf.2025.102900

Donghui Li , Yingdong Liu , Liangtao Zhang , Zunxin Zheng

引用次数: 0

Abstract

This research examines how the digital economy influences the provision of trade credit and elucidates the underlying theoretical framework. Utilizing a digital economy metric derived from principal component analysis alongside data from Chinese firms, our research reveals that digital economy progression enhances trade credit availability by easing financial restrictions and fostering innovation among businesses. The robustness of this finding is upheld when considering a range of control factors, different ways of quantifying the variables, the omission of unique industries, the application of an instrumental variable method, and modifications to the time frame of the sample. Additionally, our study reveals that the stimulatory impact of the digital economy on trade credit availability is notably greater in enterprises of small scale, those involved in manufacturing, and privately-held companies.

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数字经济发展与贸易信用供给：来自中国a股上市公司的证据

本研究考察了数字经济如何影响贸易信贷的提供，并阐明了潜在的理论框架。利用主成分分析得出的数字经济指标以及来自中国企业的数据，我们的研究表明，数字经济的发展通过放松金融限制和促进企业创新来提高贸易信贷的可获得性。当考虑到一系列控制因素、量化变量的不同方法、遗漏独特行业、工具变量方法的应用以及对样本时间框架的修改时，这一发现的稳健性得到了维持。此外，我们的研究表明，数字经济对贸易信贷可获得性的刺激作用在小规模企业、制造业企业和私营企业中明显更大。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance