金融学院知识库

In recent years, competition among enterprises has become increasingly fierce,  and  how  to  enhance  their  competitiveness  has  become   a  focus  of attention  for  scholars  and  enterprises.  The  resource-based  theory  holds  that enterprises are the integration of all resources. Obtaining high-quality resources and utilizing them to gain more benefits is an important way for enterprises to enhance their competitiveness. Digital finance can enable funding providers to access more information about enterprises through information technology. On this basis, funding providers are willing to provide funding to enterprises at lower prices, and the ability of enterprises to obtain high-quality resources after obtaining  more  funds  will  also  be  enhanced.  Enterprises  can  utilize  the information   technology   of   digital   finance   to   understand   more    external information,   make   better   decisions,   improve   the   efficiency   of   resource utilization,   and   obtain   more   benefits.  After   obtaining   more   high-quality resources and improving resource utilization efficiency through digital financial platforms, the competitiveness of enterprises will also be enhanced.

Currently, it has become a common consensus for enterprises worldwide to actively   assume   social   responsibility,   and   this   trend   has   also   attracted widespread attention and high attention from many enterprises in China. On the basis  of  studying   the   relationship  between  digital  finance  and  corporate competitiveness,  this  article  explores  whether  corporate  social  responsibility plays a mediating role in the relationship between digital finance and corporate competitiveness. Whether digital  finance  can drive  companies to  fulfill their social  responsibilities  by  providing  more   information  to   stakeholders,   and whether  stakeholders  can  provide  positive   feedback  to  the   company   after fulfilling their responsibilities, using their own resources to help the company improve its competitiveness.

On the basis of reviewing and summarizing existing literature, this article first   constructs   a   research   hypothesis   on   the   impact   of   digital   finance development  on  enterprise  competitiveness  based  on  information  asymmetry theory  and  resource-based  theory.  Then,  using  the  theory  of  information asymmetry, the research hypothesis on the impact of digital finance on corporate social responsibility was derived. These assumptions provide a theoretical basis for  further  exploring  the  role  of  digital   finance   in   enhancing   corporate competitiveness and promoting corporate social responsibility. Finally, based on stakeholder  theory,  a  research  hypothesis  is  proposed  that  corporate  social responsibility  plays  a  mediating  role  between  digital  finance  and  corporate competitiveness. Based on the above assumptions, this article takes the ten-year data of A-share listed companies in China from 2013 to 2022 as the research object,  and  empirically  explores  the  relationship  between  digital  finance, corporate  competitiveness,  and  corporate  social  responsibility.  The  research results indicate that: (1) there is a significant positive correlation between digital finance  and  corporate  competitiveness;  (2)  There   is  a  significant  positive correlation between digital finance and corporate social responsibility; (3) There is a partial mediating effect of corporate social responsibility in the relationship between digital  finance and corporate competitiveness. Finally, based on the conclusion, suggestions and countermeasures are provided for the government to develop digital finance, stimulate the enthusiasm of enterprises to fulfill social responsibilities, and actively participate in the development of digital finance.