Research On The Impact Of Fintech On The Digitalization Of Listed Small And Medium-sized Enterprises

In the era of digital economy,the financial industry and the real economy industry have accelerated the innovative application of digital technology,the integration of financial technology and the real economy shows different forms.At the same time,under the influence of digital technologies,enterprise digital transformation has become an important direction.Facing external shocks,it is urgent for small and medium-sized enterprises which was the important composition of China’s market subjects to improve the strength of various ways to improve operations.The impact of Fin Tech on SMEs is worth thinking about in depth.Fintech can improve the service quality of the financial industry,and there is a technical commonality with the digital transformation of SMEs,so it has strong theoretical and practical significance to study the relationship and mechanism between Fin Tech and the digital transformation of listed SMEs.Capital and technology are important issues in the digital transformation of enterprises,and this paper analyzes the current development of financial technology and the current status of digital transformation of enterprises,combined with theories such as information asymmetry,financing constraints and technological innovation,and analyzes the mechanism of Fin Tech affecting the digital transformation of small and medium-sized enterprises.In the empirical analysis.This paper counts the volume of fintech news in various cities according to the method of "city + keywords",to describe the level of Fin Tech.Selects the enterprises published on the SME board as the sample to construct digital transformation indicators based on the information of enterprise annual reports during 2011-2021.Using the above indicators to prove the impact of fintech on the digital transformation of enterprises.On this basis,the lagged variable method,fixed effect of year and industry interaction and special year elimination were used to test robustness,and finally heterogeneity analysis was carried out from the perspective of the region where the enterprise located and whether it is private.The main conclusions of this paper are: Fin Tech can facilitate the digital transformation of SMEs;Fin Tech can promote the digital transformation of enterprises by promoting their investment in innovation;Compared with the western regions,the impact of Fin Tech on the digital transformation of enterprises in the eastern and central region is significant,and the impact of Fin Tech on the digital transformation of enterprises is more significant in central enterprises than the eastern enterprises.Based on the above conclusions,this essay puts forward some suggestions from the aspects of encouraging innovation and supervision.