Sustainability,
Journal Year:
2024,
Volume and Issue:
16(19), P. 8533 - 8533
Published: Sept. 30, 2024
The
development
of
digital
finance
provides
new
opportunities
for
solving
the
dilemma
innovation
financing
small-
and
medium-sized
enterprises
(SMEs).
This
study
empirically
examined
heterogeneous
characteristics
mediating
mechanisms
its
incentive
effects
on
SME
using
panel
data
Chinese
GEM
board-listed
companies
from
2010
to
2021.
It
was
found
that
can
significantly
incentivize
innovation;
however,
there
are
differences
in
efficacy
among
sub-dimensions,
with
breadth
coverage
having
strongest
effect,
followed
by
depth
use,
digitization
degree
a
non-significant
effect.
Meanwhile,
is
heterogeneity
effect
innovation,
which
manifested
as
private
SMEs
regions
stronger
financial
regulations
higher
marketization
being
more
likely
be
incentivized
innovate.
In
addition,
indirectly
innovate
through
three
paths:
alleviating
constraints,
improving
risk
tolerance,
information
asymmetry.
Applied Economics,
Journal Year:
2024,
Volume and Issue:
unknown, P. 1 - 15
Published: June 12, 2024
This
study
investigates
the
impact
of
CEO
academic
experience
on
corporate
debt
default
risk
among
Chinese
A-share
listed
companies
from
2008
to
2021.
The
findings
highlight
significant
role
in
reducing
default.
Channel
analysis
further
elucidates
that
CEOs
with
backgrounds
contribute
easing
financing
constraints
and
enhancing
innovation,
thereby
mitigating
risks.
Further
indicates
a
more
pronounced
inhibitory
effect
for
backgrounds,
particularly
financially
distressed,
high-tech
non-politically
affiliated
enterprises.
provides
valuable
insights
strategic
executive
selection
promotes
high-quality
development
