This study investigates the impact of digital financial capabilities on household business ownership and business innovation.Utilising the 2015 China Household Finance Survey(CHFS)data,this paper constructs robust cap...This study investigates the impact of digital financial capabilities on household business ownership and business innovation.Utilising the 2015 China Household Finance Survey(CHFS)data,this paper constructs robust capabilities scores and finds positive associations between digital financial capabilities and household entrepreneurship.After specifying instrumental variables,the results still hold.In addition,we compare the driving forces of the impact through componential dimensions,and discuss the differ-ent function channels that digital financial capabilities affect busi-ness ownership and business innovation.What’s more,we add the interaction term of digital capability and financial capability,illus-trate its role in improving the goodness of fit of the models,and further discuss the interaction effect both generally and at each level of the capabilities scores.Finally,we conduct robustness checks across socioeconomic groups and provide policy implica-tions.This study highlights the different function channels of digital financial capabilities concerning different entrepreneurial activities,as well as the importance of interaction effect in under-standing how digital financial capabilities affect household entrepreneurship.展开更多
基金supported by MOE Humanities and Social Sciences Research Youth Fund[No.18YJC790113].
文摘This study investigates the impact of digital financial capabilities on household business ownership and business innovation.Utilising the 2015 China Household Finance Survey(CHFS)data,this paper constructs robust capabilities scores and finds positive associations between digital financial capabilities and household entrepreneurship.After specifying instrumental variables,the results still hold.In addition,we compare the driving forces of the impact through componential dimensions,and discuss the differ-ent function channels that digital financial capabilities affect busi-ness ownership and business innovation.What’s more,we add the interaction term of digital capability and financial capability,illus-trate its role in improving the goodness of fit of the models,and further discuss the interaction effect both generally and at each level of the capabilities scores.Finally,we conduct robustness checks across socioeconomic groups and provide policy implica-tions.This study highlights the different function channels of digital financial capabilities concerning different entrepreneurial activities,as well as the importance of interaction effect in under-standing how digital financial capabilities affect household entrepreneurship.
