Difference-in-differences test for micro effect of technological finance cooperation pilot in China
- Autores: Guiying Li, Wei Liu
- Localización: Applied Mathematics and Nonlinear Sciences, ISSN-e 2444-8656, Vol. 7, Nº. 2, 2022, págs. 891-902
- Idioma: inglés
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Resumen
By establishing difference in differences (DID) and propensity score matching-double difference method (PSM-DID) mod-els, the paper investigates the effect of the two pilot policies which promotes the combination of technology and financebased on the enterprise value with the available data from Shanghai and Shenzhen A-share listed companies in China from2008 to 2019. Empirical results show that the first and second pilots of technological finance cause a significant increaseand decrease in the enterprise value, respectively. These conclusions validate the effectiveness of China’s technologicalfinance policy from the enterprise value and provide empirical data support for optimising technological finance policiesof the government and high-quality development of enterprises in the new era
