证券市场导报Issue(1)：3-15,13.
数字经济与中小企业生存:促进或抑制?
摘要
Abstract
Promoting the survival of small and medium enterprises(SMEs)in the wave of digital economy development is an important path for the high-quality development of China's economy.Based on the theoretical analysis,this paper empirically tests the impact of the digital economy on the survival of SMEs and its mechanism,using the urban digital economy development index and the survival ability index of SMEs from 2014 to 2021 constructed by factor analysis.The results show that the development of the digital economy has a significant positive impact on the survival of SMEs,and this conclusion remains robust after conducting a variety of robustness tests.The mechanism analysis shows that the development of the digital economy has financing constraint-relieving effects and agency cost-saving effects.That is,the digital economy alleviates financing constraints by optimizing the financing capabilities and external financing environment of SMEs,and reduces agency costs by reducing information asymmetry and irrationality in the decision-making process of managers,thereby promoting the survival of SMEs.The heterogeneity analysis shows that the positive promoting effect of the development of the digital economy is more pronounced in the East and Central regions,the manufacturing industry,and SMEs with high management efficiency.关键词
数字经济/中小企业/融资约束/代理成本/高质量发展Key words
digital economy/small and medium enterprises/financing constraints/agency costs/high-quality development分类
管理科学引用本文复制引用
张红伟,王莉莉,陈小辉..数字经济与中小企业生存:促进或抑制?[J].证券市场导报,2024,(1):3-15,13.基金项目
国家社会科学基金一般项目"大数据时代中国应对科技与金融深度融合的风险管控研究"(项目编号:18BJY227)、四川省社科基金重点项目"数字金融安全风险管控机制研究"(项目编号:SC21JJ004) （项目编号:18BJY227）
