0
Views
0
CrossRef citations to date
0
Altmetric
Research Article

Can the digital transformation of finance companies within business groups alleviate the financing constraints of enterprises within the same group?

References

  • Avira, S., E. Setyaningsih, S. S. Utami, and S. S. Utami. 2023. “Digital Transformation in Financial Management: Harnessing Technology for Business Success.” Influence: International Journal of Science Review 5 (2): 336–345. https://doi.org/10.54783/influencejournal.v5i2.161.
  • Bisht, D., R. Singh, A. Gehlot, S. V. Akram, A. Singh, E. C. Montero, N. Priyadarshi, et al. 2022. “Imperative Role of Integrating Digitalization in the Firms Finance: A Technological Perspective.” Electronics 11 (19): 3252. https://doi.org/10.3390/electronics11193252.
  • Chen, Z., and K. Jiang. 2024. “Digitalization and Corporate Investment Efficiency: Evidence from China.” Journal of International Financial Markets, Institutions and Money 91:101915. https://doi.org/10.1016/j.intfin.2023.101915.
  • Cheng, Z., and T. A. Masron. 2023. “Economic Policy Uncertainty and Corporate Digital Transformation: Evidence from China.” Applied Economics 55 (40): 4625–4641. https://doi.org/10.1080/00036846.2022.2130148.
  • Cui, L., and Y. Wang. 2023. “Can corporate digital transformation alleviate financial distress?” Finance Research Letters 55:103983. https://doi.org/10.1016/j.frl.2023.103983.
  • Custodio, C., and D. Metzger. 2014. “Financial expert CEOs: CEO׳ s work experience and firm׳ financial policies.” Journal of financial economics 114 (1): 125–154. https://doi.org/10.1016/j.jfineco.2014.06.002.
  • Dou, B., S. L. Guo, X. C. Chang, and Y. Wang. 2023. “Corporate digital transformation and labor structure upgrading[J].” International Review of Financial Analysis 90:102904. https://doi.org/10.1016/j.irfa.2023.102904.
  • Fan, J. P. H., L. Jin, and G. Zheng. 2008. “Internal Capital Market in Emerging Markets: Expropriation and Mitigating Financing Constraints.” Working Paper.
  • Fazzari, S., R. G. Hubbard, B. C. Petersen, A. S. Blinder, and J. M. Poterba. 1988. “Financing Constraints and Corporate Investment.” Brooking Papers on Economic Activity 1988 (1): 141–206. https://doi.org/10.2307/2534426.
  • Goldfarb, A., and C. Tucker. 2019. “Digital economics.” Journal of Economic Literature 57 (1): 3–43. https://doi.org/10.1257/jel.20171452.
  • Gomber, P., R. J. Kauffman, C. Parker, and B. W. Weber. 2018. “On the fintech revolution: Interpreting the forces of innovation, disruption, and transformation in financial services.” Journal of management information systems 35 (1): 220–265. https://doi.org/10.1080/07421222.2018.1440766.
  • Gomber, P., J. A. Koch, and M. Siering. 2017. “Digital Finance and FinTech: Current Research and Future Research Directions.” Journal of Business Economics 87 (5): 537–580. https://doi.org/10.1007/s11573-017-0852-x.
  • Guo, J., H. Fang, X. Liu, C. Wang, and Y. Wang. 2023. “FinTech and Financing Constraints of Enterprises: Evidence from China.” Journal of International Financial Markets, Institutions and Money 82:101713. https://doi.org/10.1016/j.intfin.2022.101713.
  • He, J., X. Du, and W. Tu. 2024. “Can Corporate Digital Transformation Alleviate Financing Constraints?” Applied Economics 56 (20): 2434–2450. https://doi.org/10.1080/00036846.2023.2187037.
  • He, J., X. Mao, O. M. Rui, and X. Zha. 2013. “Business Groups in China.” Journal of Corporate Finance 22:166–192. https://doi.org/10.1016/j.jcorpfin.2013.05.001.
  • Hovakimian, G. 2011. “Financial Constraints and Investment Efficiency: Internal Capital Allocation Across the Business Cycle.” Journal of Financial Intermediation 20 (2): 264–283. https://doi.org/10.1016/j.jfi.2010.07.001.
  • Huang, H., C. Wang, L. Wang, and L. Yarovaya. 2023. “Corporate Digital Transformation and Idiosyncratic Risk: Based on Corporate Governance Perspective.” Emerging Markets Review 56:101045. https://doi.org/10.1016/j.ememar.2023.101045.
  • Huang, M., and S. Gao. 2023. “Digital Transformation Strategy for Financial Management of Entity Enterprises in the Information Age.” Applied Mathematics and Nonlinear Sciences 9 (1). https://doi.org/10.2478/amns-2024-0533.
  • Huang, Y., C. Lin, Z. Sheng, and L. Wei. 2018. “FinTech Credit and Service Quality.” Working Paper.
  • Kabbach-de-Castro, L. R., G. Kirch, and R. Matta. 2022. “Do Internal Capital Markets in Business Groups Mitigate firms’ Financial Constraints?” Journal of Banking and Finance 143:106573. https://doi.org/10.1016/j.jbankfin.2022.106573.
  • Kaplan, S. N., and L. Zingales. 1997. “Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?” Quarterly Journal of Economics 112 (1): 169–215. https://doi.org/10.1162/003355397555163.
  • Khanna, T., and K. Palepu. 2000. “Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups.” The Journal of Finance 55 (2): 867–891. https://doi.org/10.1111/0022-1082.00229.
  • Lange, I., and P. Maniloff. 2021. “Updating Allowance Allocations in Cap-And-Trade: Evidence from the NOx Budget Program.” Journal of Environmental Economics & Management 105:102380. https://doi.org/10.1016/j.jeem.2020.102380.
  • Lin, M., N. R. Prabhala, and S. Viswanathan. 2013. “Judging Borrowers by the Company They Keep: Friendship Networks and Information Asymmetry in Online Peer-To-Peer Lending.” Management Science 59 (1): 17–35. https://doi.org/10.1287/mnsc.1120.1560.
  • Love, I., and Love. 2003. “Financial Development and Financing Constraints: International Evidence from the Structural Investment Model.” The Review of Financial Studies 16 (3): 765–791. https://doi.org/10.1093/rfs/hhg013.
  • Lyu, Y., Z. Ji, X. Zhang, and Z. Zhan. 2023. “Can Fintech Alleviate the Financing Constraints of Enterprises?—Evidence from the Chinese Securities Market.” Sustainability 15 (5): 3876. https://doi.org/10.3390/su15053876.
  • Peng, Y., and C. Tao. 2022. “Can Digital Transformation Promote Enterprise Performance?—From the Perspective of Public Policy and Innovation.” Journal of Innovation & Knowledge 7 (3): 100198. https://doi.org/10.1016/j.jik.2022.100198.
  • Shin, H. H., and Y. S. Park. 1999. “Financing Constraints and Internal Capital Markets: Evidence from Koreanchaebols’.” Journal of Corporate Finance 5 (2): 169–191. https://doi.org/10.1016/S0929-1199(99)00002-4.
  • Song, D., W. Zhu, and H. Ding. 2022. “Can enterprise digitization promote green technology innovation? – Based on the investigation of listed companies in heavily polluting industries.” Financial Research 48 (4): 34–48. (in Chinese).
  • Song, D., Zhu, W., Wang, B., and Ding, H. 2021. “Whether there exists an environmental refuge within business groups.” China Industrial Economics (10): 156–174. (in Chinese).
  • Wang, F., and X. Ge. 2022. “Does Low Carbon Transition Hit Employment - Empirical Evidence from Pilot Low Carbon Cities.” China Industrial Economy (5): 81–99. (in Chinese).
  • Wang, S., W. Wen, Y. Niu, and X. Li. 2024. “Digital Transformation and Corporate Labor Investment Efficiency.” Emerging Markets Review 59:101109. https://doi.org/10.1016/j.ememar.2024.101109.
  • Wang, Y., S. Xiuping, and Q. Zhang. 2021. “Can Fintech Improve the Efficiency of Commercial Banks?—An Analysis Based on Big Data.” Research in International Business and Finance 55:101338. https://doi.org/10.1016/j.ribaf.2020.101338.
  • Wu, Q., and X. Huang. 2016. “Study on the Functioning of Finance Companies and Group Financing Constraints.” Economic Problem 2016 (6): 101–108. (in Chinese).
  • Wu, Q., and X. Huang. 2017. “Functional Configuration of Finance Companies and Relief of Financing Constraints of Listed Companies of Group Members.” China’s Industrial Economy (9): 156–173. (in Chinese).
  • Xie, X., Y. Shen, H. Zhang, and F. Guo. 2018. “Can Fintech Promote Entrepreneurship—Evidence from China.” China Economic Quarterly 17 (4): 1557–1580. (in Chinese).
  • Yermack, D. 2010. “Shareholder Voting and Corporate Governance.” Annual Review of Financial Economics 2 (1): 103–125. https://doi.org/10.1146/annurev-financial-073009-104034.
  • Zhou, Z., and Z. Li. 2023. “Corporate Digital Transformation and Trade Credit Financing.” Journal of Business Research 160:113793. https://doi.org/10.1016/j.jbusres.2023.113793.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.