The Impact of Digital Finance on Corporate Export Resilience
DOI:
https://doi.org/10.63313/EBM.9102Keywords:
Digital Finance, Export Resilience, Two-way Fixed Effects ModelAbstract
Based on data from Chinese A-share listed companies from 2016 to 2023, this study examines how digital finance affects corporate export resilience. Using a two-way fixed effects model , we find that digital finance significantly enhances export resilience. This conclusion remains valid after robustness tests. Digital finance strengthens firms' capacity to resist external shocks, recover exports, and facilitate upgrading by easing financing constraints and improving resource allocation. We recommend further developing digital financial infrastructure, creating tailored financial services for exporters, and enhancing policy coordi-nation to boost firms' risk resilience and international competitiveness, thereby supporting high-quality foreign trade development.
References
[1] Dai Xiang, Zeng Linghan, Xu Haifeng. Enhancing Export Resilience Through Corporate Dig-ital Transformation: Mechanisms and Empirical Evidence [J]. China Soft Science, 2023, (05): 44-53.
[2] Tang Song, Wu Xuchuan, Zhu Jia. Digital Finance and Corporate Technological Innovation: Structural Characteristics, Mechanism Identification, and Effect Differences Under Finan-cial Regulation [J]. Management World, 2020, 36(05): 52-66+9.
[3] Liang Bang, Zhang Jianhua. Can Digital Inclusive Finance Stimulate Innovation? Evidence from Chinese Cities and SMEs [J]. Contemporary Economic Science, 2019, 41(05): 74-86.
[4] Zhang Yao, Jiang Yuangang, Wang Hongmei, et al. Digital Finance and Corporate Innovation: Micro Evidence from the Digital Economy [J]. China Soft Science, 2024, (08): 211-224.
[5] Zhang Pengyang, Liu Weigang, Tang Yihong. Enhancing Corporate Export Resilience Amid Trade Frictions: The Role of Digital Transformation [J]. China Industrial Economics, 2023, (05): 155-173.
[6] Zhang Xun, Wan Guanghua, Zhang Jiajia, et al. Digital Economy, Inclusive Finance, and In-clusive Growth [J]. Economic Research Journal, 2019, 54(08): 71-86.
[7] Yi Xingjian, Zhou Li. Does the Development of Digital Inclusive Finance Significantly Affect Household Consumption? Micro Evidence from Chinese Households [J]. Financial Research, 2018, (11): 47-67.
[8] Jiang Shuaishuai, Liu Hui. The Double-Edged Sword Effect of Global Value Chain Embed-ding on Corporate Export Resilience Under Crisis Shocks [J]. International Business (Jour-nal of the University of International Business and Economics), 2021, (01): 1-17.
[9] Liu Hui, Qi Jianhong. How Diversification Strategies Affect Corporate Export Resilience Under External Demand Shocks [J]. International Trade and Economic Exploration, 2021, 37(12): 4-19.
[10] Du Yunsou, Chen Xuelei. The Impact of Upstream Industry Imported Intermediate Goods on Corporate Export Resilience: An Analysis Based on Chinese Corporate Data [J]. Interna-tional Business Research, 2024, 45(03): 1-15.
[11] He Canfei, Chen Tao. External Demand Shocks, Related Diversification, and Export Resili-ence [J]. China Industrial Economics, 2019,(07):61-80.
[12] Sun Puyang, Jiang Wei, Chen Wei. Foreign Investment Liberalization, Technological Dis-tance, and Chinese Firm Exports: An Upstream-Downstream Industry Linkage Perspective [J]. Management World, 2015, (11): 53-69.
[13] Jin Zeyang, Jin Yuying. Do Restrictive Trade Barriers Promote Destination Diversification of Export Products? Evidence from Chinese Firms' Export Destination Behavior [J]. Inter-national Trade Issues, 2020, (05): 146-160.
[14] Huang Hao. Formation and Challenges of Digital Financial Ecosystems: Evidence from China [J]. Economist, 2018, (04): 80-85.
[15] Guo Feng, Kong Tao, Wang Jingyi. Spatial Agglomeration Effects in Internet Finance: Evi-dence from the Internet Finance Development Index [J]. International Finance Research, 2017, (08): 75-85.
[16] Zhang Tianding, Lü Jinqiu. The Impact of RMB Exchange Rate Changes and Volatility on Export Trade of Listed Enterprises in China [J]. Journal of Economics and Management Re-view, 2020, 36(01): 113-123.
[17] Guo Feng, Xiong Yunjun. Measuring and Studying the Impact of Digital Inclusive Finance in China: A Literature Review [J]. Financial Review, 2021, 13(06): 12-23+117-118.
[18] Zhao Xiaoqing, Lian Yuanmei, Yuan Rujing. Can Digital Finance Improve Corporate Innova-tion Efficiency from an Innovation Value Chain Perspective? [J]. Seeking Truth Journal, 2024, 51(01): 60-75.
[19] Feng Yongqi, Zhang Haolin, Ni Juan. Investment Motives for Financial Assets in Real Economy Enterprises: The Heterogeneous Impact of Monetary Policy and the Moderating Effect of Digital Finance [J]. China Industrial Economics, 2024, (02): 118-136.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 by author(s) and Erytis Publishing Limited.

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.







