Impact of Fintech on labor allocation efficiency in firms: Empirical evidence from China

被引：3

作者：

Ang, James ^{[1
]}

Yan, Zhenli ^{[2
]}

Xiao, Tusheng ^{[3
]}

Yuan, Chun ^{[3
]}

Wang, Jingfang ^{[1
]}

机构：

[1] Florida State Univ, Coll Business, 821 Acad Dr, Tallahassee, FL 32306 USA

[2] Shanghai Univ Int Business & Econ, Sch Accountancy, 1900 Wenxiang Rd, Shanghai 201620, Peoples R China

[3] Cent Univ Finance & Econ, Sch Accountancy, 39 South Coll Rd, Beijing 100081, Peoples R China

来源：

GLOBAL FINANCE JOURNAL | 2024年 / 62卷

基金：

中国国家自然科学基金;

关键词：

Fintech; Labor allocation efficiency; Information asymmetry; Agency problem; Labor substitution; PRODUCT MARKET COMPETITION; AGENCY COSTS; SKILL; INCENTIVES; GOVERNANCE; OWNERSHIP; FINANCE;

D O I：

10.1016/j.gfj.2024.101011

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Fintech has significantly influenced the traditional financial industry by introducing advanced technologies and innovative business models that have resulted in profound impacts. This study examines the effects of Fintech development on labor allocation efficiency and explores its underlying mechanisms. Using a set of Chinese A-share public firms from 2011 to 2020, we find that Fintech development plays a positive role in labor allocation efficiency, mainly by mitigating labor overinvestment. This positive effect is further reinforced by market competition. We also find that the primary pathways of this enhancement include lowering information asymmetry, mitigating agency issues, and substituting low-skilled labor. Moreover, we show that the dimensions of depth and digital integration are particularly important in improving labor allocation efficiency.

引用

页数：19

共 50 条

[31] Does bank FinTech reduce credit risk? Evidence from China
Cheng, Maoyong
Qu, Yang
[J]. PACIFIC-BASIN FINANCE JOURNAL, 2020, 63
[32] Corporate social responsibility and labor investment efficiency: evidence from China
Wang, Ting
Wang, Jiangyuan
[J]. CHINA FINANCE REVIEW INTERNATIONAL, 2024,
[33] The bright side of the internal labor market: Evidence from the labor cost stickiness of firms affiliated with privately owned business groups in China
Xu, Hui
Chan, Kam C.
Na, Chaohong
Fang, Qiaoling
[J]. JOURNAL OF CORPORATE FINANCE, 2023, 78
[34] The Impact of Accounting Information Quality on Corporate Labor Investment Efficiency: Evidence from China
Yuan, Zhizhu
Hou, Lijuan
Zhou, Zuying
Sun, Yue
[J]. JOURNAL OF SYSTEMS SCIENCE AND SYSTEMS ENGINEERING, 2022, 31 (05) : 594 - 618
[35] Impact of Fintech on Bank Risk-Taking: Evidence from China
Deng, Liurui
Lv, Yongbin
Liu, Ye
Zhao, Yiwen
[J]. RISKS, 2021, 9 (05)
[36] The impact of stock market liberalization on corporate diversification: evidence from China
Bao, Hengmiao
Chen, Zhiyu
Li, Yushuang
Jiang, Jiaoliang
[J]. REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING, 2024,
[37] The nonlinear impact of FinTech on the real economic growth: evidence from China
Bu, Ya
Yu, Xinghui
Li, Hui
[J]. ECONOMICS OF INNOVATION AND NEW TECHNOLOGY, 2023, 32 (08) : 1138 - 1155
[38] Perks and labor investment efficiency: Evidence from China
Hu, Juncheng
Li, Xiaorong
[J]. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2024, 95
[39] How does the development of fintech affect financial efficiency? Evidence from China
Wu, Yi Hu
Bai, Liang
Chen, Xiaohui
[J]. ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA, 2022, : 2980 - 2998
[40] Fintech, Financial Constraints and OFDI: Evidence from China
Wang, Kui
Hu, Yang
Zhou, Jing
Hu, Feng
[J]. GLOBAL ECONOMIC REVIEW, 2023, 52 (04) : 326 - 345

← 1 2 3 4 5 →