How Can FinTech Reduce Corporate Zombification Risk?

被引：11
|
作者：
Jin, Long [1 ]
Pan, Changchun [2 ]
Li, Yan [3 ]
Liu, Xinmiao [3 ]
机构：
[1] Dongguan Univ Technol, Sch Econ & Management, Dongguan, Guangdong, Peoples R China
[2] Jilin Univ, Sch Econ, Changchun, Jilin, Peoples R China
[3] Jilin Univ, Sch Business & Management, Changchun, Jilin, Peoples R China
来源：
EMERGING MARKETS FINANCE AND TRADE | 2022年 / 58卷 / 15期
关键词：
FinTech; zombie firms; influencing mechanism; structural features; contagion effect; ZOMBIE FIRMS; BIG DATA; INVESTMENT;
D O I：
10.1080/1540496X.2022.2078698
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Based on data from China's A-share listed companies from 2011 to 2018, in this paper, we examine the impact of FinTech on corporate zombification risk. We find that FinTech can reduce corporate zombification risk; for each unit increase in FinTech, the probability of a company becoming a zombie firm decreases by 7.8%. In addition, FinTech can reduce corporate zombification risk by improving the efficiency of bank credit and government subsidies. Furthermore, the breadth of FinTech coverage and the depth of application can reduce corporate zombification risk, but the degree of digitization fails to play a role. Finally, not only can FinTech reduce corporate zombification risk, but it can also inhibit the contagion effect of zombie firms in the industry.
引用
收藏
页码：4350 / 4360
页数：11
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