The Impact Of Digital Inclusive Finance On Enterprises’ Digital Transformation

At present,with the rapid development of digital technology and the advantages of a large market,China has continuously made new breakthroughs in the development of the digital economy.The continuous development of the digital economy has also led to the integration of digital technology into various industries,profoundly changing production,lifestyle,and social governance systems.Especially with the integration and development of digital technology and the financial industry,we have entered a new stage of inclusive sharing of financial resources,and have also derived the new financial format of digital inclusive finance.Digital inclusive finance has effectively improved the efficiency of financial resource allocation through the use of digital technologies such as the Internet and cloud computing,with a greater emphasis on allocating fi nancial resources to the field of inclusive development.The transformation of this financial service model can effectively alleviate the pressure on enterprises to carry out financing activities and reduce the credit discrimination problem that exists in traditional financial models.On the one hand,under the policy background of"science and technology power" and "digital power",China has vigorously promoted the optimization of industrial structure,economic transformation and upgrading,providing external impetus for enterprises to carry out Digital transformation;On the other hand,the new round of scientific and technological revolution and industrial transformation has had a huge impact on the traditional business model.As an important micro entity,the challenges and opportunities brought by the digital economy have prompted enterprises to seek transformation and upgrading,providing internal impetus for enterprises to Digital transformation.Under this economic background,can the development of digital inclusive finance promote enterprises to carry out Digital transformation?What is the underlying mechanism of action?This is an important issue that urgently needs to be addressed in the current rapid development of the digital economy.This paper combs the concept and relevant literature of digital inclusive finance and enterprise Digital transformation,and systematically collates the development status of digital inclusive finance and Digital transformation in China.In the empirical part,this paper uses the data of Peking University digital inclusive finance index and listed companies,selects 2011-2019 as the research interval,and uses the fixed effect model to study the impact of digital inclusive finance on corporate Digital transformation,its mechanism,and the heterogeneous impact among different enterprises.The research results show that digital inclusive finance significantly promotes the Digital transformation of enterprises,and the research finds that the development of digital inclusive finance will promote the Digital transformation of enterprises through three channels:increasing the R&D intensity of enterprises,increasing industry competition,and improving the financial stability of enterprises.The positive role of digital inclusive finance in promoting Digital transformation of enterprises is more significant in small-scale enterprises,state-owned enterprises,high-tech enterprises and non manufacturing enterprises.Finally,based on the research results,summarize the conclusions of this article and propose targeted policy recommendations.