Industrial technology progress, digital finance development and corporate risk-taking: Evidence from China's listed firms.

ABSTRACT: Industrial technological progress, as an essential industrial-technological and institutional phenomenon, brings with it the possibility of high profits for firms but also implies new norms and rules of competition, which affect the willingness and propensity of firms to bear the costs of undertaking venture capital projects. This study empirically investigates the causal impact of industrial-technological progress on corporate risk-taking and the mechanism of digital financial growth on the relationship between the two, based on data from China's A-share listed businesses from 2011 to 2020. This paper finds that (1) industrial technological progress improves enterprise risk-taking levels. Moreover, digital financial development has an incentive effect on industrial technological progress

SUBMITTER: Wu X 

PROVIDER: S-EPMC10942030 | biostudies-literature | 2024

REPOSITORIES: biostudies-literature