数字金融能降低企业破产风险吗？

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-09-28 DOI:10.1016/j.frl.2025.108580

Chuang Liu , Weiming Tang

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引用次数: 0

摘要

本文主要研究数字金融的发展对企业破产风险的影响。以2012年至2021年中国所有a股上市公司为研究对象，采用北京大学数字金融研究中心与蚂蚁科技集团联合编制的数字普惠金融指数等数据进行研究。研究发现，数字金融发展可以有效降低企业破产风险，主要通过降低企业杠杆水平和改善公司治理等途径，对大型企业的影响更为显著。

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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Can digital finance reduce the risk of corporate bankruptcy?

This paper focuses on the impact of digital finance development on corporate bankruptcy risk. Using all A-share listed companies in China from 2012 to 2021 as the research subjects, it employs data such as the Digital Inclusive Finance Index jointly compiled by the Peking University Digital Finance Research Center and Ant Technology Group to conduct the study. The research finds that digital finance development can effectively reduce corporate bankruptcy risk, mainly through pathways such as lowering corporate leverage levels and improving corporate governance, and has a more significant impact on large-scale enterprises.

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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