Related references
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Summary: The purpose of this paper is to analyze existing literature on innovation facilitators in the financial industry. The study identified three categories of facilitators - regulators, incumbents, and new entrants - and discussed their roles in promoting financial innovation. The results suggest a shift in regulatory strategy and the emergence of various instruments such as regulatory sandboxes, corporate incubation models, and venture funds. Additionally, the study highlights the importance of supporting startups in raising capital. Overall, this paper contributes to the literature on incubation, financial innovation, and FinTech.
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He Xiao et al.
Summary: This study examines the link between institutional cross-ownership and corporate tax avoidance in Chinese listed firms. It finds that institutional cross-ownership significantly motivates the tax avoidance aggressiveness of Chinese listed firms. This relationship is more pronounced for firms with greater managerial ability and higher auditor industry expertise.
AUSTRALIAN ACCOUNTING REVIEW
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INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2023)
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INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
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Xijia Huang et al.
Summary: This study provides empirical evidence on the causal relationship between ecotourism and low-carbon sustainable development, based on China's Prototype-zone of National Ecotourism Attractions (PNEA) certification. The results demonstrate that PNEA approval can effectively reduce regional carbon emissions, with a more significant impact in midwestern cities, resource-dependent cities, and cities with net population inflow.
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Lisi Yang et al.
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FINANCE RESEARCH LETTERS
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Shufang Zheng et al.
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AUSTRALIAN ACCOUNTING REVIEW
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Wei Qin et al.
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Summary: This study examines the adoption of big data, artificial intelligence, cloud computing, and blockchain for risk management from the operations manager's perspective, using a novel behavioral model. The impact of digital transformation maturity, market pressure, regulations, and resilience on the perceived usefulness and adoption of these technologies is explored. The findings provide implications for operations managers to effectively and efficiently adopt Industry 4.0 technologies.
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Na Ding et al.
Summary: This study examines the impact of fintech development on corporate innovation and identifies the economic mechanisms through which it affects technological innovation. The findings show that financially constrained firms have a higher level of innovation in cities with well-developed fintech services. Additionally, the research finds that fintech development promotes lending to firms and stimulates R&D investment due to increased competition in bank loans caused by internet credit.
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Xiaoqi Huang et al.
Summary: This paper explores the impact and mechanism of environmental courts on corporate green innovations, using the establishment of environmental courts in China as a quasi-natural experiment. The study finds that environmental courts have a significant positive impact on green innovations, particularly in industries with high pollution intensity, state-owned enterprises, and regions with stricter mass supervision. Additionally, environmental courts can improve the efficiency of dealing with environmental disputes and alleviate the collaboration between government and firms.
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Xiaojian Xiang et al.
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INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
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Shuolei Xu et al.
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AUSTRALIAN ACCOUNTING REVIEW
(2022)
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Fengxiu Zhou et al.
Summary: This study examines the impact of China's emissions trading scheme (ETS) policy on green technology innovation. The results show that the policy significantly promotes green technology innovation in pilot cities. Environmental regulation and development strategy enhance this positive effect, while a lower proportion of state-owned enterprises and higher total factor productivity also strengthen the impact. However, cities in the western region or old industrial bases do not fully leverage the advantages of the green innovation effect of ETS.
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Tong Yang et al.
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Bingbing Huang et al.
Summary: This study examines the factors, sources, and economic consequences of firm-level financialization in Chinese firms from 1998 to 2019, using the ratio of risky financial assets to total assets as a proxy. The findings suggest an increasing trend of firm-level financialization, driven by the increase in financial assets. Occasional cash flows, such as sales of assets, along with operating cash flows and cash flows from debt and equity, serve as the sources of funding for financialization. The effect of financialization on firm performance is negative and exhibits a U-shaped non-linear effect.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
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Ronghui Xie et al.
Summary: This study expands the traditional measurement of industrial upgrading and investigates the relationship between green technology innovation, environmental regulation, and the cleaner upgrading of industrial structure. The findings provide important policy basis for formulating green transformation strategies in China's industries.
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Jinyan Hu et al.
Summary: This paper investigates the causal relationship among oil price, green innovation, and institutional pressure using the MF-VAR model. The results show that oil price stimulates green innovation in China, and institutional pressure also promotes green innovation. Therefore, policies need to be implemented to reduce the impact of oil price fluctuations on green innovation and strengthen institutional pressure for environmental protection.
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Xun Han et al.
Summary: This paper analyzes the relationship between central bank communication and corporate innovation. The findings suggest that communication in a loose direction promotes corporate innovation. The consistency between words and deeds and the proportion of policy continuity words in communication amplify this positive impact. Furthermore, the positive influence of central bank communication on corporate innovation is more significant in companies with stable investor sentiment and a high degree of management myopia.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2022)
Review
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Shan Zhou
Summary: This literature review summarizes the key insights from recent studies that utilize an archival method, focusing on climate-related information and other sustainability information. It reviews and summarizes findings on the current practices, determinants, and consequences of reporting and assurance of climate-related and other sustainability information in voluntary and mandatory regimes. The review identifies saturated areas and under-researched topics, while also highlighting key trends for future research in this evolving field.
AUSTRALIAN ACCOUNTING REVIEW
(2022)
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Zihui Xu et al.
Summary: This study provides evidence that mandatory deleveraging leads to an increase in corporate tax avoidance and companies tend to use non-debt tax shields as a substitute.
AUSTRALIAN ACCOUNTING REVIEW
(2022)
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Alexander Berman et al.
Summary: External technological changes in the financial services industry have significantly impacted entrepreneurship and market structure, particularly with fintech innovation benefiting startups and smaller firms while increasing competitive pressure on larger incumbents. This study highlights how external technology shocks can reshape market dynamics by strengthening entrepreneurial ecosystems.
REVIEW OF MANAGERIAL SCIENCE
(2022)
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Ayse Demir et al.
Summary: This paper investigates the relationship between FinTech, financial inclusion and income inequality and finds that financial inclusion is a key channel through which FinTech reduces income inequality. The effects of financial inclusion on income inequality are primarily associated with higher-income countries.
EUROPEAN JOURNAL OF FINANCE
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Siyu Ren et al.
Summary: This study investigates the impact of internet development on China's energy consumption and finds a significant positive correlation between internet development and energy consumption in China. Additionally, internet development has a significant negative impact on the energy consumption structure and intensity in China, suggesting that internet development can help accelerate the decline in energy consumption intensity.
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Haichao Fan et al.
Summary: This study finds that the reinforcement of green credit regulation leads to noncompliant firms facing increased loan interest rates, decreased loan amounts, and more difficulty in accessing loans. There are different impacts on large and small firms in terms of their loans and their financial and economic responses. Furthermore, firms can reduce emissions by investing in abatement facilities or choosing to produce less, with large firms focusing on emission intensity reduction and small firms opting for production reduction.
JOURNAL OF DEVELOPMENT ECONOMICS
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Dongmin Kong et al.
Summary: Environmental regulation has a significant deterrent effect on entrepreneurship, especially in pollution-intensive industries. The stringent regulation increases production costs for firms, thereby reducing expected profits and hindering entrepreneurship. The impact of environmental regulation is more pronounced in areas with low corruption and high institutional quality.
ENVIRONMENTAL & RESOURCE ECONOMICS
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Shaopeng Cao et al.
Summary: Digital finance plays an important role in promoting China's energy-environmental performance, especially by improving technical efficiency through green technology innovation. It has a more significant stimulating effect in regions with immature credit and capital markets. Strengthening financial supervision and environmental regulation can enhance the role of digital finance in promoting energy-environmental performance.
JOURNAL OF CLEANER PRODUCTION
(2021)
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Elinor Benami et al.
Summary: Emerging digital technologies have the potential to reshape rural markets for financial services in developing countries, but their imperfections require evaluation and oversight. Rural microfinance faces challenges such as information asymmetries and transaction costs, which need to be addressed for a more efficient and equitable financial system.
APPLIED ECONOMIC PERSPECTIVES AND POLICY
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Tong Fu et al.
Summary: This study found that the stringency of environmental regulations in China only promotes corporate innovation when interacted with regions with high corruption, with bribery expenditures playing a mediating role. The research further confirms that corruption is the key mechanism in the Porter effect in developing countries.
ECOLOGICAL ECONOMICS
(2021)
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Business, Finance
Caroline Flammer
Summary: The study found that investors respond positively to the issuance of corporate green bonds, especially for first-time issuers and bonds certified by third parties. Post-issuance, issuers improve their environmental performance and attract long-term and green investors. This supports the argument that companies can signal their commitment to the environment by issuing green bonds.
JOURNAL OF FINANCIAL ECONOMICS
(2021)
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Business
Gecheng Yuan et al.
Summary: Financial innovation plays a crucial role in driving green innovation, particularly in high-tech intensive industries. It primarily promotes green innovation by enhancing financial intermediaries' ability to screen information. Furthermore, the promotion effect of financial innovation on green innovation is more significant in countries with stricter environmental regulations, lower banking competition, and industries with higher energy intensity.
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
(2021)
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Chin-Hsien Yu et al.
Summary: The study found that financing constraints have a negative impact on the green innovation capabilities of firms, with privately owned enterprises being more vulnerable compared to state-owned enterprises. While green finance policies can alleviate financing constraints on green innovation, privately owned enterprises have difficulty accessing green credits.
Article
Business, Finance
Marco Di Maggio et al.
Summary: Fintech lenders acquire market share by lending first to higher-risk borrowers and rely mainly on hard information to make credit decisions. Fintech borrowers are significantly more likely to default than individuals borrowing from traditional financial institutions and tend to experience a short-lived reduction in the cost of credit due to increased indebtedness.
REVIEW OF FINANCIAL STUDIES
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Jillian Grennan et al.
Summary: In the past decade, hundreds of equity market intelligence FinTech firms have emerged, aggregating various data sources and utilizing AI to provide investment recommendations, thus transforming how internet users discover information. Nontraditional data may contain valuable information or crowd wisdom, linking to informational efficiency, ultimately benefiting investors and markets.
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Xiuzhen Pan et al.
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Donghua Zhou et al.
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