数字金融促进企业创新投资的机制及效应研究

Research on the Mechanism and Effect of Digital Finance to Promote Corporate Innovation Investment

构建数字金融影响企业创新投资的动态决策模型,通过模型推导和数值分析发现,数字金融具有很强的创新激励效应,其金融资源的优化配置能力能够缓解因不确定性引发的融资约束,数字金融越发展,企业创新投资的积极性越高,其投资临界值就越低,创新投资价值越高。因此,企业的创新投资,一方面需要企业的自我积累和自我发展,另一方面需要从外部推动数字金融的发展。

Upon constructing the dynamic decision model of digital finance affecting enterprise innovation investment,the model derivation and numerical analysis found that digital finance has a strong innovation incentive effect,and its ability of optimal allocation of financial resources can alleviate the financing constraints triggered by uncertainty.The more the development of digital finance,the higher the enthusiasm of enterprise innovation investment,and the lower its investment threshold,the higher the value of innovation investment.Therefore,the innovative investment of enterprises needs the self-accumulation and self-development of enterprises,and it also needs to promote the development of digital finance from the outside.