Digital government governance, supply chain finance empowerment, and enterprise innovation efficiency

IF 7.1 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2026-03-01 Epub Date: 2026-01-15 DOI:10.1016/j.frl.2026.109521

Yiyu Wang , Zixuan Wang , Zhaojun Meng

引用次数: 0

Abstract

Utilizing a panel dataset of A-share listed firms on the Shanghai and Shenzhen Stock Exchanges from 2013 to 2023, this study systematically investigates the mechanisms and boundary conditions through which digital government governance (DGG) affects enterprise innovation efficiency. The study finds: there is a significant positive correlation between DGG and enterprise innovation efficiency, and this conclusion remains robust after parallel trend tests, PSM-DID, and a series of robustness checks; the positive impact of DGG on enterprise innovation efficiency exhibits heterogeneity between firms with low fixed-asset ratios and those with high fixed-asset ratios; supply chain finance empowerment acts as a significant mediating channel linking DGG to innovation efficiency; however, this mediating role is evident only in industries characterized by high technological intensity and is statistically insignificant in low-tech-intensity sectors.

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数字政府治理、供应链金融赋权与企业创新效率

本文利用2013 - 2023年沪深两市a股上市公司面板数据，系统考察了数字政府治理影响企业创新效率的机制和边界条件。研究发现：DGG与企业创新效率之间存在显著的正相关关系，且经过平行趋势检验、PSM-DID检验和一系列稳健性检验后，这一结论仍然是稳健性的；DGG对企业创新效率的正向影响在低固定资产比率企业和高固定资产比率企业之间呈现异质性；供应链金融赋权是DGG与创新效率之间的重要中介渠道；然而，这种中介作用仅在技术强度高的行业中明显，在技术强度低的行业中统计上不显著。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance