The power of technology: FinTech and corporate debt default risk in China

被引：13
|
作者：
Nie, Zi [1 ,5 ]
Ling, Xuan [2 ,4 ,6 ]
Chen, Meian [3 ,7 ]
机构：
[1] Wuhan Text Univ, Sch Accounting, Wuhan 430200, Peoples R China
[2] Zhongnan Univ Econ & Law, Sch Accounting, Wuhan 430073, Peoples R China
[3] Inner Mongolia Zhengli Engn Cost Consulting Co LT, Inner Mongolia 010000, Peoples R China
[4] Zhongnan Univ Econ & Law, Sch Accounting, 182 Nanhu Ave,East Lake High-tech Dev Zone, Wuhan 430073, Peoples R China
[5] 1 Yangguang Ave, Wuhan 430200, Peoples R China
[6] 182 Nanhu Ave,East Lake High-tech Dev Zone, Wuhan 430073, Peoples R China
[7] Econ & Technol Dev Zone, Inner Mongolia 010000, Peoples R China
来源：
PACIFIC-BASIN FINANCE JOURNAL | 2023年 / 78卷
关键词：
Fintech; Financing constraints; Debt default risk; FINANCIAL RATIOS; INNOVATION;
D O I：
10.1016/j.pacfin.2023.101969
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
With the economic downward pressure increasing and the COVID-19 spreading, avoiding the corporate debt default risk is a basic requirement for achieving high-quality economic develop-ment in China. Can FinTech empower traditional finance and contribute to the healthy devel-opment? We explore the impact of FinTech on corporate debt default risk. The findings suggest that FinTech reduces the corporate debt default risk. And the impact is more pronounced in non-SOEs and in firms with small-scale and in the growth and maturity stages. Further analysis shows that financial supervision plays a role in strengthening the negative impact of FinTech on the corporate debt default risk. Therefore, FinTech development should be actively promoted and corresponding regulatory measures should be formulated, then the finance can better serve the real economy and achieve high-quality development in China.
引用
收藏
页数：13
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