Abstract：Overcapacity caused by investment convergence has become a stubborn problem that needs to be solved urgently in the Chinese economy.The development of digital finance provides new ideas for curbing corporate investment convergence and solving the problem of overcapacity.This paper uses the data of A-share listed companies in the traditional manufacturing industry from 2013 to 2019 to empirically test the impact of digital finance on the investment convergence behavior of traditional manufacturing companies.The study found that digital finance can effectively inhibit the investment convergence behavior of traditional manufacturing enterprises,and the inhibition effect on the investment convergence behavior of non-state-owned enterprises and enterprises lacking investment experience is more significant.Further analysis finds that digital finance restrains the investment convergence behavior of traditional manufacturing enterprises by reducing the uncertainty of the market environment faced by them;at the same time,digital finance will significantly promote the financial investment convergence behavior of traditional manufacturing enterprises.
王旭, 潘仁龙, 赵梦菲. 数字金融对传统制造企业投资趋同行为影响研究[J]. 中国科技论坛, 2023(7): 85-94.
Wang Xu, Pan Renlong, Zhao Mengfei. Research on the Impact of Digital Finance on Investment Convergence Behavior of Traditional Manufacturing Enterprises. , 2023(7): 85-94.
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