{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,18]],"date-time":"2026-03-18T01:43:31Z","timestamp":1773798211933,"version":"3.50.1"},"reference-count":34,"publisher":"Emerald","issue":"2","license":[{"start":{"date-parts":[[2022,9,26]],"date-time":"2022-09-26T00:00:00Z","timestamp":1664150400000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["K"],"published-print":{"date-parts":[[2023,2,17]]},"abstract":"<jats:sec><jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title><jats:p>This 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.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>This 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 \u201cfinancing difficulty\u201d and \u201cfinancing expensive\u201d 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.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>The 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.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>The authors\u2019 research clearly found that the development of digital inclusive finance alleviates the financing of technology-based SMEs from the two aspects of \u201cincremental supplement\u201d 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.<\/jats:p><\/jats:sec>","DOI":"10.1108\/k-01-2022-0095","type":"journal-article","created":{"date-parts":[[2022,9,23]],"date-time":"2022-09-23T13:12:19Z","timestamp":1663938739000},"page":"585-600","source":"Crossref","is-referenced-by-count":29,"title":["An empirical study on financing constraints of digital inclusive finance development on small and medium-sized technology-based enterprise"],"prefix":"10.1108","volume":"52","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-1105-8844","authenticated-orcid":false,"given":"Xiongying","family":"Wang","sequence":"first","affiliation":[]},{"given":"Xiang","family":"Chen","sequence":"additional","affiliation":[]}],"member":"140","published-online":{"date-parts":[[2022,9,26]]},"reference":[{"key":"key2023052316130540500_ref001","doi-asserted-by":"crossref","first-page":"1777","DOI":"10.1111\/j.1540-6261.2004.00679.x","article-title":"The cash flow sensitivity of cash","volume":"59","year":"2004","journal-title":"The Journal of Finance"},{"issue":"8","key":"key2023052316130540500_ref002","doi-asserted-by":"crossref","first-page":"3048","DOI":"10.1093\/rfs\/hhq030","article-title":"Formal versua informal finance: evidence from China","volume":"23","year":"2010","journal-title":"Review of Financial Studies"},{"issue":"4","key":"key2023052316130540500_ref003","doi-asserted-by":"crossref","first-page":"1123","DOI":"10.1016\/j.jce.2013.05.003","article-title":"Internal financial constraints and firm productivity in China: do\u00a0liquidity and export behavior make a difference?","volume":"41","year":"2013","journal-title":"Journal of Comparative Economics"},{"key":"key2023052316130540500_ref004","doi-asserted-by":"crossref","first-page":"157","DOI":"10.1093\/jfr\/fjx012","article-title":"Capital markets union and the fintech opportunity","volume":"4","year":"2018","journal-title":"Journal of Financial Regulation"},{"issue":"02","key":"key2023052316130540500_ref005","first-page":"47","article-title":"Financing constraints of Chinese firms: characteristics, phenomena and causes","volume":"49","year":"2014","journal-title":"Economic Research Journal"},{"key":"key2023052316130540500_ref006","doi-asserted-by":"crossref","first-page":"2455","DOI":"10.1093\/rfs\/hhs071","article-title":"Trust and credit: the role of appearance in peer-to-peer lending","volume":"25","year":"2012","journal-title":"Review of Financial Studies"},{"key":"key2023052316130540500_ref007","doi-asserted-by":"crossref","first-page":"220","DOI":"10.1080\/07421222.2018.1440766","article-title":"On the fintech revolution: interpreting the forces of innovation, disruption and transformation in financial services","volume":"35","year":"2018","journal-title":"Journal of Management Information Systems"},{"key":"key2023052316130540500_ref008","first-page":"12-23","article-title":"Measurement and impact of digital financial inclusion in China: a\u00a0literature review","volume":"6","year":"2021","journal-title":"Chinese Review of Financial Studies"},{"issue":"08","key":"key2023052316130540500_ref009","first-page":"75","article-title":"Spatial agglomeration effect of internet finance: evidence from internet finance development index","volume":"364","year":"2017","journal-title":"Studies of International Finance"},{"issue":"04","key":"key2023052316130540500_ref010","first-page":"1401","article-title":"Measuring the development of digital inclusive finance in China: index compilation and spatial characteristics","volume":"19","year":"2020","journal-title":"China Economic Quarterly"},{"issue":"9","key":"key2023052316130540500_ref031","first-page":"1","article-title":"New evidence on measuring financial constraints: moving beyond the KZ index [J]","volume":"32","year":"2009"},{"key":"key2023052316130540500_ref011","first-page":"71","article-title":"Discussion on financing problems of Small and medium-sized enterprises in China","volume":"03","year":"2005","journal-title":"Friends of Accounting"},{"issue":"04","key":"key2023052316130540500_ref012","first-page":"80","article-title":"The formation and challenge of digital financial ecosystem -- experience from China","year":"2018","journal-title":"Economist"},{"issue":"08","key":"key2023052316130540500_ref013","first-page":"5","article-title":"Internet development and manufacturing productivity improvement: internal mechanisms and China's experience","volume":"377","year":"2019","journal-title":"China Industrial Economics"},{"issue":"6","key":"key2023052316130540500_ref014","first-page":"25","article-title":"How does fintech affect firm financing constraints: dynamic effects, heterogeneity characteristics and macro and micro mechanism tests","volume":"36","year":"2020","journal-title":"Studies of International Finance"},{"key":"key2023052316130540500_ref015","first-page":"1","article-title":"Financial innovation and endogenous growth","volume":"24","year":"2015","journal-title":"Economics Working Papers"},{"issue":"06","key":"key2023052316130540500_ref016","first-page":"24","article-title":"The development of digital finance and the promotion of regional innovation under the background of \u201cdouble cycle\u201d","year":"2021","journal-title":"On Economic Problems"},{"issue":"11","key":"key2023052316130540500_ref017","first-page":"115","article-title":"On the small and medium-sized enterprises financing difficult, financing expensive thinking","year":"2015","journal-title":"Journal of Financial Research"},{"key":"key2023052316130540500_ref018","doi-asserted-by":"crossref","first-page":"130","DOI":"10.1016\/j.jedc.2014.01.015","article-title":"Financial innovation and bank behavior: evidence from credit markets","volume":"43","year":"2014","journal-title":"Journal of Economic Dynamics and Control"},{"issue":"6","key":"key2023052316130540500_ref019","article-title":"The financing of small entrepreneurial enterprise","year":"2011"},{"issue":"02","key":"key2023052316130540500_ref020","first-page":"99","article-title":"Development of digital inclusive Finance and promotion of regional innovation: an analysis based on internal supply and external demand","volume":"42","year":"2021","journal-title":"Journal of Southwest Minzu University (Humanities and Social Science)"},{"issue":"07","key":"key2023052316130540500_ref021","first-page":"82","article-title":"An empirical study on the financing constraints of digital inclusive finance on technology-based SMEs\u2014taking the five northwest provinces as examples","year":"2021","journal-title":"Market Forum"},{"issue":"07","key":"key2023052316130540500_ref022","first-page":"134","article-title":"How does financial technology innovation affect total factor productivity: promote or inhibit? \u2013 Theoretical analysis framework and regional practice","volume":"343","year":"2019","journal-title":"China Soft Science"},{"issue":"05","key":"key2023052316130540500_ref023","first-page":"52","article-title":"Digital Finance and enterprise technological innovation: structural characteristics, mechanism identification and effect differences under financial supervision","volume":"36","year":"2020","journal-title":"Management World"},{"issue":"04","key":"key2023052316130540500_ref024","first-page":"1557","article-title":"Can digital finance promote entrepreneurship? \u2013 Evidence from China","volume":"17","year":"2018","journal-title":"Economics (Quarterly)"},{"issue":"05","key":"key2023052316130540500_ref025","first-page":"106","article-title":"The mystery of corporate investment efficiency: financing constraint hypothesis and monetary policy shock","volume":"49","year":"2014","journal-title":"Economic Research"},{"issue":"12","key":"key2023052316130540500_ref026","first-page":"40","article-title":"Interregional differences, digital financial development and corporate financing constraints: an empirical test based on text analysis","volume":"42","year":"2020","journal-title":"Journal of Shanxi University of Finance and Economics"},{"issue":"12","key":"key2023052316130540500_ref027","first-page":"40","article-title":"Regional differences, digital financial development and corporate financing constraints -- an Empirical Test Based on text analysis","volume":"42","year":"2020","journal-title":"Journal of Shanxi University of Finance and Economics"},{"issue":"08","key":"key2023052316130540500_ref028","first-page":"71","article-title":"Digital economy, inclusive finance and inclusive growth","volume":"623","year":"2019","journal-title":"Economic Research"},{"issue":"11","key":"key2023052316130540500_ref029","first-page":"48","article-title":"Development of digital finance and growth of resident consumption: theory and practice in China","volume":"36","year":"2020","journal-title":"Management World"},{"issue":"04","key":"key2023052316130540500_ref030","first-page":"158","article-title":"Digital inclusive financial development, financial mismatch mitigation and enterprise innovation","volume":"42","year":"2021","journal-title":"Science Research Management"},{"issue":"07","key":"key2023052316130540500_ref501","first-page":"71","article-title":"Thinking on solving the financing dilemma of small and micro enterprises in the \u2018entrepreneurship and Innovation\u2019 environment","year":"2016","journal-title":"Macroeconomic Management"},{"key":"key2023052316130540500_ref502","first-page":"92","article-title":"Does cash-cash Flow sensitivity test the financing constraint hypothesis?","volume":"10","year":"2008","journal-title":"Statistical Research"},{"issue":"10","key":"key2023052316130540500_ref503","first-page":"65","article-title":"Digital economy, entrepreneurial activity and high-quality development: empirical evidence from Chinese cities","volume":"36","year":"2020","journal-title":"Management World"}],"container-title":["Kybernetes"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/K-01-2022-0095\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/K-01-2022-0095\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,7,24]],"date-time":"2025-07-24T21:46:37Z","timestamp":1753393597000},"score":1,"resource":{"primary":{"URL":"http:\/\/www.emerald.com\/k\/article\/52\/2\/585-600\/265538"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2022,9,26]]},"references-count":34,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2022,9,26]]},"published-print":{"date-parts":[[2023,2,17]]}},"alternative-id":["10.1108\/K-01-2022-0095"],"URL":"https:\/\/doi.org\/10.1108\/k-01-2022-0095","relation":{},"ISSN":["0368-492X"],"issn-type":[{"value":"0368-492X","type":"print"}],"subject":[],"published":{"date-parts":[[2022,9,26]]}}}