{"title":"金融科技、金融约束与对外直接投资：来自中国的证据","authors":"Kui Wang, Yang Hu, Jing Zhou, Feng Hu","doi":"10.1080/1226508X.2023.2283878","DOIUrl":null,"url":null,"abstract":"ABSTRACT We examined how Fintech affects Chinese firms’ OFDI. By using the regional Fintech index, we identified potential channels through which Fintech affects firms’ OFDI. We show that firms that are more financially constrained exhibit a disproportionally higher OFDI level in cities with better-developed Fintech services. We further find that Fintech development promotes lending to firms and facilitates OFDI because Fintech intensifies bank loan competition. Our research emphasises the importance of financial innovation driven by technology on the behaviour of enterprise internationalisation.","PeriodicalId":45235,"journal":{"name":"Global Economic Review","volume":"11 1","pages":"326 - 345"},"PeriodicalIF":1.9000,"publicationDate":"2023-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Fintech, Financial Constraints and OFDI: Evidence from China\",\"authors\":\"Kui Wang, Yang Hu, Jing Zhou, Feng Hu\",\"doi\":\"10.1080/1226508X.2023.2283878\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACT We examined how Fintech affects Chinese firms’ OFDI. By using the regional Fintech index, we identified potential channels through which Fintech affects firms’ OFDI. We show that firms that are more financially constrained exhibit a disproportionally higher OFDI level in cities with better-developed Fintech services. We further find that Fintech development promotes lending to firms and facilitates OFDI because Fintech intensifies bank loan competition. Our research emphasises the importance of financial innovation driven by technology on the behaviour of enterprise internationalisation.\",\"PeriodicalId\":45235,\"journal\":{\"name\":\"Global Economic Review\",\"volume\":\"11 1\",\"pages\":\"326 - 345\"},\"PeriodicalIF\":1.9000,\"publicationDate\":\"2023-10-02\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Global Economic Review\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1080/1226508X.2023.2283878\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Economic Review","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/1226508X.2023.2283878","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
Fintech, Financial Constraints and OFDI: Evidence from China
ABSTRACT We examined how Fintech affects Chinese firms’ OFDI. By using the regional Fintech index, we identified potential channels through which Fintech affects firms’ OFDI. We show that firms that are more financially constrained exhibit a disproportionally higher OFDI level in cities with better-developed Fintech services. We further find that Fintech development promotes lending to firms and facilitates OFDI because Fintech intensifies bank loan competition. Our research emphasises the importance of financial innovation driven by technology on the behaviour of enterprise internationalisation.
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