Can the development of digital finance and information transparency improve enterprise investment efficiency?

被引：0
|
作者：
Ren, Yu [1 ]
Liu, Xiongfei [1 ]
Zhu, Yi [1 ]
机构：
[1] Yinchuan Univ Sci & Technol, Yinchuan 750001, Ningxia, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2025年 / 73卷
关键词：
Digital finance; Information transparency; Investment efficiency;
D O I：
10.1016/j.frl.2024.106597
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study analyzes data from A-share listed companies from 2012 to 2022 to investigate the impact of digital finance development and information transparency on corporate investment efficiency. Findings indicate that digital finance development and information transparency can enhance corporate investment efficiency. Moreover, financing constraints play a significant moderating role in the relationship between digital finance development and corporate investment efficiency. Finally, the impact of digital finance development on the investment efficiency of state-owned and non-state-owned enterprises varies, with a more pronounced effect on stateowned enterprises.
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页数：8
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