Research On The Influence Of Digital Inclusive Finance On Financing Constraints Of Small And Medium-sized Enterprises On NEEQ In Henan Province

Henan Province has a large number of small and medium-sized enterprises group,small and medium-sized enterprises in the promotion of employment in Henan Province,stable economic development,create fiscal revenue and other aspects have made a great contribution.However,the economic development level and economic resources of Henan Province are limited.Due to the problems of enterprises themselves and external financing environment,the economic resources that can be allocated by SMEs in the financing process do not match their contributions,and there is even a serious financing gap.Most of the financing needs of SMEs cannot be met.The financing problem restricts the development of small and medium-sized enterprises in Henan Province.Alleviating the financing constraints of small and medium-sized enterprises in Henan province is of great significance for the economic development and social stability of the province.In recent years,digital inclusive finance has been rapidly applied into practice in our country.With the progress of digital technology,the application scenarios are constantly expanding.With its advantages of sustainability,high efficiency and non-contact,digital inclusive finance plays a huge role in facilitating the development of SMEs and stabilizing the economy,and has become an indispensable part of China’s economic and social activities.The service model of digital inclusive finance also provides new ideas and ways to ease the financing constraints of SMEs.First of all,this paper expounds the research background and research significance,carries on the literature review and related theoretical basis,and clarifies the financing problems faced by Chinese small and medium-sized enterprises.Secondly,it focuses on the small and medium-sized enterprises on the NEEQ in Henan Province,analyzes the financing exogenous financing and endogenous current situation of small and medium-sized enterprises on the NEEQ in Henan Province,and analyzes the causes of financing problems and even financing constraints of small and medium-sized enterprises in Henan Province from the perspectives of financing costs,financing channels,financing environment and financing supply and demand matching.Based on the theoretical analysis and the analysis of the current situation of financing of small and medium-sized enterprises on the NEEQ in Henan Province,the research hypothesis is proposed.Finally,203 small and medium-sized enterprises in Henan NEEQ were selected to collect their financial data and financial indicators as panel data.The cash-cash flow sensitivity model was used for regression analysis and robustness test.Forward for the development of digital inclusive finance in Henan Province and the alleviation of financing constraints for SMEs in Henan Province.The empirical results show that there are obvious financing constraints in the NEEQ SMEs in Henan province.The development degree of digital inclusive finance has an obvious negative effect on the cash retention of SMEs on the NEEQ in Henan Province,the development of digital inclusive finance has a certain positive effect on alleviating the financing constraints of SMEs on the NEEQ in Henan Province.Through theoretical analysis,empirical research and policy suggestions,insolve digital inclusive finance in Henan Province,the solution to the financing problems of small and medium-sized enterprises and the balanced,stable and sustainable development of Henan Province’s economy.In recent years,digital inclusive finance has been rapidly applied into practice in our country.With the progress of digital technology,the application scenarios are constantly expanding.Digital inclusive finance plays a huge role in facilitating the development of SEMs and stabilizing the economy,and has become an indispensable part of China’s economic and social activities.The service model of digital inclusive finance also provides new ideas and ways to ease the financing constraints of SEMs.