Fintech And Firm’s Export

At present,China’s emerging information technologies such as cloud computing,artificial intelligence,blockchain and big data have made great progress.Emerging information technologies have been widely used in the financial field.The deep integration of Finance and science and technology has gradually become an important trend,and the development level of financial science and technology has increased rapidly.As an extension and application of emerging information technology in the financial field,financial technology not only has an important impact on deepening the structural reform of the financial supply side,but also plays an important role in promoting financial innovation,serving the real economy and helping Inclusive Finance.Under the situation of intensified competition in the international market and the prevalence of Global trade protectionism,the export trade of enterprises is facing severe challenges,and the growth of export scale of enterprises slows down.China’s economy has changed from a high-speed growth stage to a high-quality development stage.The transformation from "made in China" to "created in China" has become an important trend.It is urgent to promote the high-quality development of trade.Therefore,it is necessary to further cultivate the new advantages of enterprises’ export trade,improve the non-price competitiveness of enterprises’ export products,and promote the upgrading of enterprises’ export products.The research perspective of this paper focuses on the relationship between financial technology and enterprise export behavior.Through theoretical analysis and empirical research,this paper focuses on the impact of financial technology on the growth of enterprise export scale and the upgrading of enterprise export products.The upgrading of enterprises’ export products includes the improvement of the export products quality of enterprises at the "vertical level" and the export technological sophistication of enterprises at the "horizontal level".At present,the academic research on financial technology is in its infancy.There is a lack of research on the trade effect of financial technology,and there is a lack of research on the impact of financial technology on the export behavior of enterprises.The research of this paper has achieved innovation in the research perspective and research content,which not only expands the research perspective of financial technology,but also enriches the research results on enterprise export behavior.The research of this paper has important reference value for the development of financial technology and enterprise export trade.From the perspective of enterprise financing constraints,this paper theoretically analyzes the impact of the improvement of the development level of financial technology on the growth of enterprise export scale and the upgrading of enterprise export products.The improvement of the development level of financial technology can alleviate the financing constraints of enterprises.The development of financial technology has produced technology spillover effect and market competition effect on traditional financial institutions,which can not only promote the technological innovation and efficiency improvement of traditional financial institutions,but also reduce the degree of information asymmetry between traditional financial institutions and enterprises,which is conducive to alleviate the financing constraints faced by enterprises.In addition,the development of financial technology can promote the innovation of financial products and financial services,expand enterprise financing channels,reduce enterprise financing costs,and realize the inclusive financing of enterprises,which is conducive to enterprises to overcome financing constraints.The improvement of the development level of financial technology can alleviate the financing constraints faced by enterprises,which has an important impact on the export behavior of enterprises.On the one hand,the development of financial technology can alleviate the financing constraints of enterprises,which is not only conducive to enterprises to overcome the fixed and variable costs of export trade,but also promote the comparative advantage of export trade,thus promoting the growth of export scale.On the other hand,the development of financial technology can reduce the degree of financing constraints of enterprises,so as to produce innovation incentive effect,improve the product R&D level of enterprises,and promote the export products quality of enterprises and the export technological sophistication of enterprises.Therefore,the development of financial technology is conducive to alleviate the financing constraints of enterprises,so as to promote the growth of export scale and the upgrading of export products.This paper empirically studies the impact of financial technology on enterprise export scale.The results show that the development of financial technology significantly promotes the growth of enterprise export scale.After the robustness test and the treatment of endogenous problems,the above conclusion is still valid.The analysis results show that the mitigation of enterprise financing constraints is an important mechanism for the development of financial technology to promote the growth of enterprise export scale.From the perspective of enterprise level,industry level and regional level,this paper analyzes the heterogeneous impact of FinTech on enterprise export scale.The heterogeneity analysis of the impact of FinTech on the export scale of enterprises shows that at the enterprise level,from the perspective of the type of enterprise ownership,compared with state-owned enterprises,the development of FinTech plays a more obvious role in promoting the growth of export scale of non-state-owned enterprises;At the industry level,from the perspective of the research on the degree of industry market competition,compared with industries with low degree of market competition,the development of financial technology plays a more obvious role in promoting the growth of export scale of enterprises in industries with high degree of market competition;At the regional level,from the perspective of the degree of Regional Marketization,compared with the regions with low degree of marketization,the development of financial technology plays a more obvious role in promoting the growth of export scale of enterprises in regions with high degree of marketization.This paper empirically studies the impact of financial technology on the export products quality of enterprises.The results show that the development of financial technology significantly promotes the improvement of export products quality of enterprises and is conducive to the upgrading of "vertical" enterprises’ export products.After the above problems are tested and handled,the robustness is still in place.The analysis results show that the mitigation of enterprise financing constraints is an important influence mechanism for the development of financial technology to promote the improvement of export products quality of enterprises.From the perspective of enterprise level,industry level and regional level,this paper analyzes the heterogeneous impact of financial technology on the export products quality of enterprises.The heterogeneity analysis of the impact of FinTech on the export products quality of enterprises shows that at the enterprise level,from the perspective of the relative scale of enterprises,the development of FinTech has a more obvious effect on the export products quality of enterprises of relatively small enterprises than that of relatively large enterprises;At the industry level,from the perspective of the research on the degree of industry market competition,compared with industries with low degree of market competition,the development of financial technology plays a more obvious role in improving the export products quality of enterprises in industries with high degree of market competition;At the regional level,from the perspective of the research on the degree of regional intellectual property protection,compared with the regions with low degree of intellectual property protection,the development of financial technology plays a more obvious role in improving the export products quality of enterprises in regions with high degree of intellectual property protection.This paper empirically studies the impact of financial technology on the export products quality of enterprises.The results of this paper show that the development of financial technology significantly promotes the improvement of the export products quality of enterprises and is conducive to the upgrading of "horizontal" enterprises’export products.After the robustness test and the treatment of endogenous problems,the above conclusion is still valid.The analysis results show that the mitigation of enterprise financing constraints is an important influence mechanism for the development of financial technology to promote the improvement of the export products quality of enterprises.From the perspective of enterprise level,industry level and regional level,this paper analyzes the heterogeneous impact of financial technology on the export products quality of enterprises.The heterogeneity analysis of the impact of FinTech on the technological complexity of export products shows that at the enterprise level,from the perspective of the relative scale of enterprises,the development of FinTech has a more obvious effect on the export products quality of enterprises of relatively small enterprises than that of relatively large enterprises;At the industry level,from the perspective of the research on the degree of market competition of the industry,compared with the industries with low degree of market competition,the development of financial technology plays a more obvious role in improving the export products quality of enterprises in industries with high degree of market competition;At the regional level,from the perspective of the research on the degree of regional intellectual property protection,compared with the regions with low degree of intellectual property protection,the development of financial technology plays a more obvious role in improving the export products quality of enterprises in regions with high degree of intellectual property protection.Based on the conclusions of theoretical analysis and empirical research,this paper puts forward policy suggestions:first,accelerate the development of emerging information technologies such as cloud computing,artificial intelligence,blockchain and big data,enhance R&D and innovation in the field of emerging information technologies,promote the application of emerging information technologies in the financial field,and use emerging information technologies to realize the innovative development of the financial industry,Further improve the development level of financial science and technology.Second,the development of financial science and technology should be based on serving the real economy,improve the ability of financial science and technology to serve the real economy,pay full attention to and make rational use of the scientific and technological enabling effect of financial science and technology,use financial science and technology to enable enterprises’export trade,and cultivate new export competitive advantages of enterprises.Third,improve the enterprise financing services of financial technology,expand enterprise financing channels,reduce enterprise financing costs,use financial technology to promote the improvement of the quality and efficiency of enterprise financing services,optimize the allocation of financial resources,promote the universality of enterprise financing,improve enterprise financing ability and alleviate enterprise financing constraints.Fourth,improve the market competition mechanism,reduce the degree of market monopoly and optimize the business environment of enterprises.Fifth,steadily promote the process of marketization,improve the efficiency of resource allocation,enhance the protection of intellectual property rights,encourage enterprise product R&D,provide important guarantee for enterprise innovation and promote the upgrading of enterprise export products.