Digital inclusive finance and digital transformation of enterprises

This paper evaluates the impact of digital inclusive finance (DIF) on enterprise digital transformation (EDT) using a two-way fixed effects model. The results show that DIF can significantly promote EDT, and the breadth of coverage and the depth of usage will enhance the digitalization of enterprises. The mechanism analysis shows that in this process, technological innovation plays a positive moderating effect, and executives' financial background plays a negative moderating effect. In addition, this promotion is significant for non-state-owned enterprises, but not for stateowned enterprises. Overall, this study provides reliable empirical evidence and policy insights to optimize the development of DIF and promote the digital transformation of enterprises.