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How Does Digital Finance Affect Corporate Innovation? A Study from the Perspective of R&D Investment

Ye Zhang et al.

International Journal of Innovation and Technology Management2026https://doi.org/10.1142/s021987702650015xarticle
AJG 1
Weight
0.50

What the paper says

In the context of the accelerated evolution of the digital economy and the in-depth advancement of the innovation-driven development strategy, clarifying the mechanisms through which R&D investment and digital finance influence firms’ innovation performance has important theoretical and practical significance. This study aims to explore both the direct effects and underlying mechanisms of R&D investment and digital finance on firms’ innovation performance. The results show that R&D investment has a positive effect on firms’ innovation performance. Mechanism analysis further shows that digital finance significantly moderates the effect of R&D investment in driving firms’ innovation performance. Specifically, the breadth of digital finance coverage and the degree of digital support services effectively promote the positive effect of R&D investment on firms’ innovation performance. Heterogeneity analyses indicate that firm ownership structure and CEO duality significantly influence the relationship between R&D investment and firms’ innovation performance. These findings provide a new perspective for understanding the interaction effect of R&D investment and digital finance on firms’ innovation performance, and offers empirical evidence for policy-making and corporate strategic planning.

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https://doi.org/https://doi.org/10.1142/s021987702650015x

Or copy a formatted citation

@article{ye2026,
  title        = {{How Does Digital Finance Affect Corporate Innovation? A Study from the Perspective of R&D Investment}},
  author       = {Ye Zhang et al.},
  journal      = {International Journal of Innovation and Technology Management},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1142/s021987702650015x},
}

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How Does Digital Finance Affect Corporate Innovation? A Study from the Perspective of R&D Investment

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.