The Impact of Fintech on Financing Constraints of Technology SMEs
DOI:
https://doi.org/10.54097/9jzvka27Keywords:
FinTech, Technology SMEs, Financing constraints, Information asymmetryAbstract
The advent of financial technology (FinTech) has prompted considerable interest in its potential to enhance the financial landscape for science and technology small and medium-sized enterprises (SMEs). This paper examines the role of FinTech development in the financing constraints of science and technology SMEs, with a particular focus on the mediating mechanism of information asymmetry. The research objects are the strategic emerging industry enterprises of the Science and Technology Innovation Board. The FinTech index is constructed by logistic regression, and the double fixed effect model is used for analysis. The findings of this study indicate that the advancement of FinTech has notably alleviated the financial constraints faced by science and technology SMEs. Further examination revealed that FinTech has effectively served as an intermediary by reducing the extent of information asymmetry, thereby mitigating the financing challenges faced by these enterprises. This study offers a novel perspective and empirical foundation for understanding the role of FinTech in promoting the growth of science and technology SMEs, and it also provides valuable insights for the development of relevant policies and financial innovation practices.
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