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The “Halo” of Financial Innovation: Financial Technology and Total Factor Productivity Growth in Chinese Energy Companies

Yafei Kang et al.

Managerial and Decision Economics2026https://doi.org/10.1002/mde.70098article
AJG 2ABDC B
Weight
0.50

What the paper says

ABSTRACT This paper examines how financial technology (Fintech) development affects the total factor productivity (TFP) of energy companies in China using panel data from 2010 to 2022. The results show that Fintech significantly improves corporate TFP. Mechanism analyses indicate that Fintech enhances productivity by easing financing constraints, increasing policy support such as financial subsidies and tax incentives, and promoting R&D‐oriented innovation investment. The effect is stronger for mature firms and non–state‐owned enterprises, reflecting clear heterogeneity across firms. In addition, regional marketization and attention to the digital economy serve as important external moderators that reinforce the influence of Fintech on TFP. These findings deepen the understanding of digital financial innovation in the energy industry and provide new evidence on how Fintech contributes to high‐quality and low‐carbon development.

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https://doi.org/https://doi.org/10.1002/mde.70098

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@article{yafei2026,
  title        = {{The “Halo” of Financial Innovation: Financial Technology and Total Factor Productivity Growth in Chinese Energy Companies}},
  author       = {Yafei Kang et al.},
  journal      = {Managerial and Decision Economics},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1002/mde.70098},
}

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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.