Applied Economics, Journal Year: 2024, Volume and Issue: unknown, P. 1 - 18
Published: Aug. 6, 2024
This paper examines the influence of digital transformation in finance companies within business groups on financing constraints enterprises. In this paper, we demonstrate that can markedly alleviate enterprises same group through 'information effect'. Specifically, reduce information asymmetry between supply and demand sides funds thus help to group. Our findings remain robust after conducting various tests, such as replacing dependent variables, excluding other policy disruptions, employing a placebo test. Heterogeneity analysis indicates has greater impact subsidiaries have higher proportion shares held by ultimate controller. The alleviating effect under their control is stronger for originally had less prominent roles lending, entrusted, guaranteed businesses.
Language: Английский