| Summary/Abstract |
This study created a new financial technology (Fintech) development index by combining the PKU-DFIC index with data from Fintech companies collected manually through the ‘TianYanCha’ credit platform. By matching the index with data on listed enterprises, we analysed the impact of Fintech development on green innovation in businesses and explored the underlying pathways of ‘credit expansion’ and ‘fiscal expansion’. Our findings reveal that firms located in cities with advanced levels of Fintech development obtain larger scale and greater efficiency in green innovation. Furthermore, the results of the exploration of impact pathways show that Fintech development increases the size of credit in the city as well as the government's fiscal support for businesses. Fintech enables enterprises to achieve higher performance of green innovation through these two pathways. The methodology used to construct the Fintech indicators and conduct this study provides more precise insights into the relationship between Fintech development and the environmentally focused development of the real economy.
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