Research on the Heterogeneity for Internet Finance to Accelerate Industrial Structure and Technological Innovation of SMEs

Authors

  • Zheng Shi

Abstract

Internet finance is a new type of financing model that is widely used in the social credit environment and provides assistance to the industrial restructuring and high-tech innovation of enterprises. Using China's internet finance development data from 2015 to 2019 as a sample, we singled out such indicators as online financing of internet finance, industrial structure, technological innovation, and industrial value added in the article to construct a linear regression model of internet finance, industrial structure upgrading, and technological innovation system. In the meanwhile, we also adopted SYS-GMM to estimate the data value of the reference model to perform Hansen test or Wald test. The results show that the significant positive correlation between the internet finance input and the industrial structure of SMEs and technological innovation is reflected by the coupling and dispersion degree of the explaining variables in the spatial panel model and the systematic measurement of explained variables. It is possible to effectively alleviate and solve the financing constraints of SMEs through the expansion of financial services.

Published

2020-12-18

Issue

Section

Articles