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 Ebook: FN457 Banking and Financial Systems: Catalysts of Social By Laura Guercio |  Ebook: FN458 Banktech 4. 0: the Next Wave of Transformative Ban By Indrajit Ghosal |  Ebook: FN459 Fintech; and Blockchains Trends in the Financial S By Rishikaysh Kaakandikar, Keshav Kaushik, Priya Tiwa |
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| Articles |
| Complementary and substitution effects of digital finance and green finance on corporate green innovation By Tan, Sijin; Tao, Shigui. Scientific Reports (Nature Publisher Group); London Vol. 16, Iss. 1, (2026): 9421. DOI:10.1038/s41598-026-39152-9 Abstract :Against the backdrop of the “dual-carbon” goals, traditional financial models are unable to meet the urgent demands of green economic development. The coordinated development of digital finance and green finance has become a critical issue of the times. Existing research has focused more on the independent impacts of digital finance and green finance, while paying insufficient attention to their interactive effects and underlying mechanisms. Therefore, this study examines the green innovation incentive effects of digital finance and green finance, as well as their interactive relationship and underlying mechanisms, by constructing a two-way fixed effects model and applying Logit and Poisson nonlinear models. The analysis is based on data from Chinese A-share listed companies from 2011 to 2023. Research indicates that digital finance and green finance exhibit a stronger substitution effect than a complementary effect in incentivizing strategic green innovation. After testing the nonlinear model, the aforementioned conclusions remain valid. The substitution effect between digital finance and green finance is primarily concentrated in non-high-tech industries, heavily polluting industries, non-state-owned enterprises, and lower-tier cities. When corporate financing constraints are weaker, the substitution effect between digital finance and green finance becomes more pronounced. The stronger a company’s technological absorption capacity, the weaker the substitution effect between digital finance and green finance becomes. The conclusion provides empirical evidence and decision-making support for leveraging diverse financial models to promote green development and sustainable growth. | |||
| The influence of digital finance development on bank efficiency: evidence from China By Chen Menggen; Zhang, Qiao Technological and Economic Development of Economy; Vilnius Vol. 32, Iss. 1, (Jan 2026): 43-81. DOI:10.3846/tede.2025.23789 Abstract :Digital finance has enhanced financial service accessibility, reduced costs, and disrupted traditional business models. Based on the functional view of finance, a theoretical model including commercial banks, households, and enterprises is constructed to analyze the impact of digital finance on bank efficiency and explore its mechanisms through liabilities and assets. In this paper, a three-dimensional framework including digital financial foundation, digital banking business and new financial services is constructed and a digital finance index is calculated to represent the development of digital finance at the city level. Then, using the stochastic frontier analysis (SFA) method, the efficiency of commercial banks is measured with the data of Chinese banks between 2011 and 2020. This empirical study shows that digital finance significantly improved the efficiency of China’s commercial banks. For every extra unit of digital finance, bank’s cost efficiency will increase by 0.72% and its revenue efficiency will increase by 3.17%. This conclusion is still valid after multiple robustness checks, including substitution of explanatory variables, cutting samples and regression with instrumental variables. | |||
| Unlocking Digital Transformation in Industrial Enterprises: Evidence from Technology Finance By Zhou, Xiaolong; Sun Xiumei; Zhang, Hui. Systems; Basel Vol. 14, Iss. 2, (2026): 207. DOI:10.3390/systems14020207 Abstract :In the process of the accelerated evolution of the modern economic system, technology finance is constantly injecting momentum into the digital transformation of industrial enterprises. Using the panel data of Chinese industrial firms listed between 2013 and 2022, this paper examines the impact of technology finance on digital transformation and analyzes the mechanism of their influence. The empirical result shows that technology finance drives digital transformation by reducing corporate equity concentration, enhancing risk-bearing capacity, and reducing internal management costs. Among these factors, equity concentration has the most significant mediating effect, while the role of financing constraints is relatively limited, mainly manifesting as basic support conditions. Commercial credit can promote the enabling effect of technology finance to accelerate the digital transformation of industrial enterprises. In addition, the empowering effect of technology finance is more pronounced in the eastern coastal and central regions, as well as in pilot areas that combine technology and finance. | |||
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| News |
| Why India needs a dedicated financial conduct regulator By The Print; 2nd June 2026 |
| India`s FY27 Outlook Is `Cautiously Resilient`, But Inflation Risks Need Vigilance: FinMin By Outlook Business; 30th May 2026 |
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