数字普惠金融对专精特新企业创新的影响OACHSSCD

This paper uses the invention patent data of"Special-elaborative-characteristic-innovative"(SECI)companies from 2010 to 2021 to explore the impact of digital financial inclusion on enterprise innovation and its mechanism.The research shows that digital financial inclusion has a significant posi-tive impact on the innovation level of SECI companies.Its features include broadening financing chan-nels,lowering financing threshold and improving financing efficiency.This indicates that digital finan-cial inclusion has a positive effect on the level of enterprise innovation by easing the constraints on en-terprise financing.Further research found that,compared with large enterprises,digital inclusive finance plays a more significant role in promoting the innovation level of small enterprises.This shows that small enterprises are facing more severe financing constraints because of their high operational risk and lack of self-cash.After grouping the ownership of enterprises into state-owned enterprises and private enterprises,it is also found that the positive impact of digital inclusive finance on the innovation level of private enterprises facing more serious financing constraints is more obvious.Therefore,this paper sug-gests that we should vigorously promote the development of digital inclusive finance to alleviate the fi-nancing constraints of enterprises to the greatest extent,especially small and medium-sized enterprises and private enterprises.