Improving agricultural green total factor productivity is important for achieving high-quality economic development and the SDGs. Digital inclusive finance, which combines the advantages of digital technology and inclusive finance, represents a new scheme that can ease credit constraints and information ambiguity in agricultural production. First, this study focused on agro-ecological functions; we incorporated total agricultural carbon sequestration and emissions extraction into the evaluation system and used the mixed-direction-distance function to calculate agricultural green total factor productivity. Then, based on panel data from 31 provinces in China collected from 2011 to 2021, we used the two-way fixed effect model, the interactive fixed effect, and the plausibly exogenous variable method to test the impact of digital financial inclusion on agricultural green total factor productivity, and its mechanism of action. The panel-corrected standard error and fixed effect Driscoll–Kraay methods were used to account for the unobserved heterogeneity and cross-section dependence in the panel data. The results showed that digital financial inclusion can significantly improve agricultural green total factor productivity. This conclusion remained valid following robustness tests using the spatial econometric model and the method of changing explanatory variables. Digital financial inclusion can improve agricultural green total factor productivity by facilitating the transfer of agricultural land. Sound digital infrastructure and strict green credit policies enhance the role of digital inclusive finance in promoting the green development of agriculture. These conclusions could help the financial sector to formulate flexible, accurate, reasonable, and appropriate financial policies and products that would support agriculture, and enhance the role of digital inclusive finance in promoting sustainable agricultural development.

https://www.mdpi.com/2071-1050/15/8/6436/pdf?version=1681123068

Digital Financial Inclusion, Land Transfer, and Agricultural Green Total Factor Productivity

Does the development of digital finance curb carbon emissions? Evidence from county data in China

Corporate social responsibility is the responsibility of the corporations towards the stakeholders, the environment, and society. It covers the voluntary practices for the solution of social problems. Similar to other areas, new media applications offer new opportunities in terms of corporate social responsibility practices. In addition, it is now possible for companies to benefit from four different types of media: “paid, earned, shared, and owned media”. The purpose of this study is to reveal how corporations take advantage of paid, owned, earned, and shared media using new media applications in their social responsibility practices. For this purpose, the Vodafone Turkey Foundation's #BuMamaBenden project is selected as a case study and examined. The research results show that new media applications can be used as an effective tool to reach people. Moreover, the coordinated use of these four media types can increase the impact of corporate social responsibility projects and keeps them alive.

The Use of New Media Applications in Corporate Social Responsibility: Vodafone “#BuMamaBenden” Case Study

High-tech enterprises, as the key subjects that can stimulate innovation vitality and promote innovation-driven development strategies in China, require government guidance for their innovative activities. However, the existing research has not answered the issue of how the government behavior activates the innovation ability of high-tech enterprises and what is the internal mechanism. As such, this paper takes government participation in high-tech enterprises as its research object, constructs an evolutionary game model of government participation in enterprise innovation, analyzes the internal mechanism of improvements to high-tech enterprises’ innovation ability under government tax and fee policy incentives and regulatory measures, and uses MATLAB numerical simulation to verify the results. The research shows that (1) increasing the general corporate income tax rate and reducing the high-tech corporate income tax rate can promote the transformation of general enterprises into high-tech enterprises and encourage enterprises to engage in scientific and technological innovation activities. However, when the high-tech corporate income tax rate is lower than 0.1, the marginal effect will be reduced. (2) Increasing the deduction coefficient and amortization coefficient can make high-tech enterprises more motivated to participate in innovation activities and thus render enterprise innovation more lucrative. (3) Increasing administrative penalties from regulatory authorities can promote the development of innovative activities in high-tech enterprises, but their intensity must be controlled within a reasonable range. The presented results have reference value for the adjustment of tax and fee policies among high-tech enterprises.

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Evolutionary Game Analysis of the Innovation Behavior of High-Tech Enterprises with Government Participation

PurposeThe development of digital inclusive finance (DIF) has increased households' financial investments and consumption. However, few studies have considered whether DIF strengthens the substitution of household financial investment for consumption behavior. To clarify the relationship between DIF, household financial investment and household consumption behavior, the authors combine matched data from the China Family Panel Studies (CFPS) and Peking University Digital Inclusive Finance Index (2011–2018) to explore the impact of DIF on household financial substitution. This study aims to discuss the aforementioned objectives.Design/methodology/approachThis study's empirical analysis applies ordinary least squares (OLS) to answer how DIF affects household financial investment substitution for consumption. This study uses three approaches to examine the robustness of the benchmark regression model. These three approaches are replacing the core explanatory variables, using the lagged Digital Inclusive Finance Index and using the data of additional years. This article also assesses endogeneity by applying the instrumental variable method.FindingsThe results indicate that DIF significantly enhances household financial substitution. This article also assesses endogeneity by applying the instrumental variable method and robustness test methods. The impact mechanism test shows that DIF positively affects household financial substitution, by improving information dissemination efficiency and enhancing financial participation. Further research finds that the impact of DIF on household financial substitution is more pronounced in households with low to moderate savings rates, low to average income households and homes without family members who start their businesses.Research limitations/implicationsThis study analyzed the effect and mediating mechanisms of digital financial inclusion on household financial substitution. Like all studies, the research had some limitations. First, due to differences in culture and infrastructure development, people do not understand and judge economic behaviors, such as household financial investment and consumption, in the same way. It can lead to certain biases in their understanding and study responses. Second, the study is mainly based on data from China. Future studies should be extended to foreign countries for comparative analysis. Third, the development of DIF has not yet completed a full cycle, and many problems have not been fully identified.Practical implicationsThis study provides some practical implication. First, the public sectors should effectively weigh the spending relationship between household financial investment and consumption. Second, the public sector should focus on the policy optimization and consistency of DIF. The public sector should both enhance the breadth of coverage and depth of impact of DIF and focus on long-tail groups to fully reflect the equity and inclusiveness of DIF.Originality/valueThis study responds to the discussion on the relationship between financial investment, saving and consumption games in household expenditures and enhances our understanding of how DIF affects households' complex economic behavior. The most revealing finding is that DIF reinforces the substitution of household financial investment for household consumption. DIF positively affects household financial substitution by improving the efficiency of information dissemination and increasing financial participation, which is a valid extension of the study on the mechanisms of information dissemination and financial participation in financial investment and consumption proposed.

Unraveling the influence and mechanism of digital inclusive finance on household financial substitution: evidence from China

PurposeThis paper mainly explores the relationship between digital inclusive finance and financing constraints of technological-based SMEs, and how digital inclusive finance affects the financing constraints of technology-based SMEs. This paper empirically analyzes the relationship between them through the OLS model, and then further verifies the relationship between them through robust regression and heterogeneity analysis. At the same time, it uses the mechanism test to explore how digital inclusive finance affects the financing constraints of technology-based SMEs. This paper aims to address these issues.Design/methodology/approachThis paper aims to explain the relationship between digital inclusive finance and financing constraints of technological-based SMEs. Technology-based SMEs always face the difficult problem of “financing difficulty” and “financing expensive” in the development process, which hinders the survival and development of enterprises to some extent. Digital inclusive finance development policy vigorously promoted by the state has alleviated the financing constraints of technology-based SMEs and brought opportunities for their development.FindingsThe results show that the role of digital inclusive finance in alleviating the financing constraints of technology-based SMEs, and incremental supplement and alleviating information asymmetry are the main reasons for digital inclusive finance to alleviate the financing constraints of technology-based SMEs. In view of the availability of digital inclusive financial data, this paper only uses the data from 2014 to 2019.Originality/valueThe authors’ research clearly found that the development of digital inclusive finance alleviates the financing of technology-based SMEs from the two aspects of “incremental supplement” and alleviating information asymmetry, so as to provide corresponding reference basis for the government to formulate a series of plans to support the development of technology-based SMEs.

An empirical study on financing constraints of digital inclusive finance development on small and medium-sized technology-based enterprise

Corporate Social Responsibility can be summarized as follows: economic responsibility theory, charity responsibility theory, moral responsibility theory, legal responsibility theory, comprehensive responsibility theory, related interest theory. Although the theories all illustrate the features of corporate social responsibility to some extent, they can't reveal the connotation comprehensively and accurately. It refers to the enterprise's obligation to improve social interests except for legal liabilities to the stakeholders.

Xiong-Wen Wang

Papers

An empirical study on financing constraints of digital inclusive finance development on small and medium-sized technology-based enterprise

Various of Theories of the Concept of Corporate Social Responsibility and Comments