Probe - Accounting, Auditing and Taxation

FinTech innovation, data transparency, and corporate financing quality: An empirical research based on financial and economic data

Meilin Pan

Anhui University of Finance and Economics

DOI: https://doi.org/10.59429/paat.v8i1.13643

Keywords: data transparency; FinTech innovation; corporate financing quality; R&D investment intensity; financing constraints

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Abstract

This study takes A-share listed companies in China from 2013 to 2023 as a sample to systematically analyze the intrinsic relationships among data transparency, FinTech innovation, and corporate financing quality. The research finds that: data transparency can significantly improve corporate financing quality; FinTech innovation plays a significant moderating role in the relationship between data transparency and corporate financing quality, and this moderating effect varies among firms with different R&D investment levels; the promoting effect of data transparency on financing quality is influenced by the level of financing constraints, exhibiting a characteristic of being "high at both ends and low in the middle". This research not only enriches the theoretical evidence in the field of "information transparency-financing quality", but also provides empirical evidence and policy references for improving the quality of information disclosure in the capital market, deepening the development of financial technology, and optimizing the corporate financing environment.

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References

[1] Xiao Dong, Mingzhe Yu,Does FinTech development facilitate firms' innovation? Evidence from China,International Review of Financial Analysis,Volume 89,2023,102805,ISSN 1057-5219.

[2] Xiao Dong, Mingzhe Yu,Does FinTech development facilitate firms' innovation? Evidence from China,International Review of Financial Analysis,Volume 89,2023,102805,ISSN 1057-5219.

[3] Boyu He, Zimeng Li, Gongyu Ke, Yuhan Zhang,Financial Technology Innovation, Data Transparency, and the Quality of Corporate Financing: An Empirical Inquiry Based on Financial Economic Data,Finance Research Letters,2026,109542,ISSN 1544-6123.