Lulu Yang

Xi'an International Studies University

Abstract：

China is in a critical period of high-quality economic development, and the development of enterprises is of vital importance. The combination of traditional finance and emerging technologies has given rise to digital finance, which brings new ideas for solving the financing constraints of enterprises. This paper takes the listed companies on the Shanghai and Shenzhen A-share markets from 2013 to 2022 as the research objects. The research findings show that all dimensions of digital finance can significantly promote the high-quality development of enterprises. Moreover, digital finance plays its role by improving the level of corporate governance, and its effects are more remarkable in enterprises located in eastern and central regions as well as in high-tech industries.

Key Words：

digital finance; corporate governance; high-quality development of enterprises