数字普惠金融、环境不确定性与企业价值

选取沪深A股上市企业2011—2020年数据作为样本,以实证方式探讨数字普惠金融在微观层面上与企业价值的关系,以及环境不确定性对两者关系的调节效应,并进一步考察异质性影响。研究发现：数字普惠金融促进企业价值;环境不确定性弱化数字普惠金融对企业价值的促进作用。进一步研究发现,在非国有企业、市场化程度较高及东部地区,数字普惠金融对企业价值的促进效果更为突出。

Digital Inclusive Finance, Environmental Uncertainty and Enterprise Value

Using the data of Shanghai and Shenzhen A-share listed enterprises from 2011 to 2020 as samples, the relationship between digital inclusive finance and enterprise value at the micro level, and the moderating effect of environmental uncertainty are analyzed. The influence of heterogeneity is further investigated. It is found that digital inclusive finance significantly promotes enterprise value; environmental uncertainty weakens the role of digital inclusive finance in promoting corporate value. Further research finds that in non-state-owned enterprises, the higher degree of marketization and the eastern region, the promotion effect of digital inclusive finance on enterprise value is more prominent.