Research On The Impact Of Entity Enterprise Financialization On The Quality Of Innovation

Rural development is based on industrial development.Rural industry revitalization has become the key to rural economic development and provides inexhaustible power for rural revitalization.In recent years,China’s rural industry has enjoyed a good development trend,and there is still much room for progress.However,the financial dilemma is still prominent.Funds and financial services are not in place,there are obstacles in the allocation of financial resources,the financial infrastructure is not perfect,and the contradiction between the weak financial service system and the growing demand for rural industry development is becoming increasingly prominent.How to alleviate the financial dilemma of rural industries and help the sustainable development of rural industries has become an important topic.As an expansion of Internet finance and traditional finance,digital inclusive finance combines the digitalization of inclusive finance and the inclusive nature of digital finance,complements the weaknesses of traditional finance,alleviates financial exclusion,expands the breadth and depth of financial services,and stimulates new drivers of rural industry development.Therefore,it is of great significance to study how digital inclusive finance can enable the revitalization of rural industries to promote the revitalization of rural industries in China.First of all,it combed the relevant research of domestic and foreign scholars,discussed the concept of digital inclusive finance and rural industry revitalization,and based on financial development theory,industry integration theory and other theories,it further explained the mechanism of digital inclusive finance affecting rural industry revitalization.Then,take the data of 30 provinces and cities(except Tibet)in China from 2011 to 2020 as samples,measure the performance level of rural industry revitalization from the four dimensions of rural industry production,rural industry extension,rural industry function and rural industry support,use the entropy method to measure the comprehensive performance index of rural industry revitalization in each province and city,and focus on the analysis of rural industry development.Secondly,it explains the direct and indirect mechanism of digital inclusive finance on rural industry revitalization,and puts forward assumptions based on the above theories.Finally,we use sample data for empirical analysis,and select a fixed effect model to conduct an overall test,a molecular dimension test,a rural industry level test,a geographical location test,an economic level test,and a channel mechanism test on the relationship between digital inclusive finance and rural industry revitalization,and verify the previous hypothesis through the robustness test.This paper draws five main conclusions: First,digital inclusive finance significantly enables rural industry revitalization,and the three sub dimensions have a positive role in promoting rural industry revitalization,including coverage,depth of use,and digital degree.Secondly,the analysis of the heterogeneity of rural industry level shows that digital inclusive finance plays a smaller role in promoting the development of rural industries in areas with lower levels,but plays a larger role in promoting the development of rural industries in areas with higher levels;The analysis of geographical location heterogeneity shows that digital inclusive finance plays a stronger role in promoting the revitalization of rural industries in the western and central regions than in the eastern regions;The heterogeneity analysis of economic development level shows that the role of digital inclusive finance in promoting rural industry revitalization is more prominent in areas with lower economic development level.Third,digital inclusive finance can not only directly ease the constraints of business entities and activate market vitality to promote rural industry revitalization,but also indirectly affect rural industry revitalization through agricultural scientific and technological innovation,rural industry integration and agricultural total factor productivity channels.Fifthly,take Huzhou City as an example to study the model of digital inclusive finance affecting rural industry revitalization,and find that the model of digital inclusive finance promoting rural industry revitalization mainly includes Huzhou Bank inclusive finance model,e-commerce platform+agricultural digitalization model,digital finance+agricultural supply chain model and financial technology+green finance model,and discuss the existing problems.Finally,on the basis of the research conclusions,the paper puts forward four main countermeasures and suggestions for digital inclusive finance to promote the revitalization of rural industries.First,improve the digital inclusive financial system and improve the quality and efficiency of rural industry revitalization;Second,guide the integration of rural industries and accelerate rural development;Third,vigorously promote the modernization of agricultural production and change the mode of agricultural development;Fourth,optimize the supervision system of rural financial market and enhance the ability of financial services to revitalize rural industries.