DigitalWallet, Happy Heart: An Analysis Based on the Economic–Social–Environmental Perspective

• Xiaomei Gong ^[1] ; Huirong Zhang ^[2] ; Jiaping Zhang ^[3]
  1. [1] Shanghai University of Finance and Economics

     Shanghai University of Finance and Economics

     China

     
  2. [2] Shandong Management University

     Shandong Management University

     China

     
  3. [3] East China Normal University

     East China Normal University

     China

     

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• Localización: Journal of Theoretical and Applied Electronic Commerce Research, ISSN-e 0718-1876, Vol. 19, Nº. 2, 2024, págs. 1222-1242
• Idioma: inglés
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• Resumen

  • While the prior mobile payment−subjective well-being (SWB) literature has mainly discussed its economic and social impacts, the present study supplements this body of research by introducing an economic–social–environmental perspective. Using two waves of representative Chinese national surveys, the instrumental variable (IV) estimator suggests that mobile payment is positively and statistically significantly correlated with SWB. Furthermore, the results reveal that the positive correlation comes from the compound influence of economic, social, and environmental channels. Specifically, it shows that mobile payment not only affects people’s economic and social performance but alsomitigates the adverse effects of poor environmental conditions on SWB. Additionally, a further disaggregated analysis shows that mobile payment exerts a stronger positive influence on SWB for people from underdeveloped areas within the economic–social–environmental framework.

    These findings shed light on the role of financial technology in facilitating sustainable development.