{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,15]],"date-time":"2026-04-15T09:03:01Z","timestamp":1776243781280,"version":"3.50.1"},"reference-count":22,"publisher":"World Scientific Pub Co Pte Ltd","issue":"03","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["J. Info. Know. Mgmt."],"published-print":{"date-parts":[[2026,3]]},"abstract":"<jats:p>This study investigates the impact of technical innovation on corporate financialisation, defined as the transition from productive investments to financial assets, utilising panel data from China\u2019s A-share non-financial listed companies from 2007 to 2020. The impact of technology innovation on financialisation is contingent upon enterprises\u2019 financial asset allocation objectives. Innovation diminishes financialisation by enhancing enterprises\u2019 productive financial performance (e.g. ROA), yet may augment it when firms emphasise speculative profits. The effect is varied: more pronounced for enterprises with little liquidity, intense market competition, or sectors that are not capital-intensive. Policy implications indicate (1) proactive financial asset oversight by regulators, (2) focused assistance for enterprises exhibiting significant innovation marginal effects, and (3) enhanced intellectual property protection to promote genuine economic innovation rather than financial arbitrage.<\/jats:p>","DOI":"10.1142\/s0219649225500911","type":"journal-article","created":{"date-parts":[[2025,9,20]],"date-time":"2025-09-20T16:38:57Z","timestamp":1758386337000},"source":"Crossref","is-referenced-by-count":0,"title":["Digital Innovation and Financialisation in China\u2019s Real Economy: Firm-Level Evidence on Productivity, Risk, and Policy Implications"],"prefix":"10.1142","volume":"25","author":[{"ORCID":"https:\/\/orcid.org\/0009-0001-1097-2191","authenticated-orcid":false,"given":"Deng","family":"Gang","sequence":"first","affiliation":[{"name":"School of Business, Qilu Institute of Technology, Shandong Province, Jinan City, P. R. China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-7034-0172","authenticated-orcid":false,"given":"Muhammad Sabil","family":"Farooq","sequence":"additional","affiliation":[{"name":"School of Business, Qilu Institute of Technology, Shandong Province, Jinan City, P. R. China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-5206-7643","authenticated-orcid":false,"given":"Nazia","family":"Feroze","sequence":"additional","affiliation":[{"name":"School of Political Science, Nankai University, Tianjin City, P. R. China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0009-0002-2128-2070","authenticated-orcid":false,"given":"Cheng","family":"Tongshun","sequence":"additional","affiliation":[{"name":"School of Political Science, Nankai University, Tianjin City, P. R. China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0009-0003-6597-3727","authenticated-orcid":false,"given":"Faisal","family":"Feroze","sequence":"additional","affiliation":[{"name":"The University of Sydney Business School, NSW Australia"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"219","published-online":{"date-parts":[[2025,9,19]]},"reference":[{"key":"S0219649225500911BIB001","doi-asserted-by":"publisher","DOI":"10.1016\/j.atech.2022.100042"},{"key":"S0219649225500911BIB002","doi-asserted-by":"publisher","DOI":"10.1093\/oso\/9780197649268.001.0001"},{"key":"S0219649225500911BIB003","doi-asserted-by":"publisher","DOI":"10.1080\/07036337.2024.2398427"},{"key":"S0219649225500911BIB004","unstructured":"Foroohar, R (2024). The great US\u2013Europe antitrust divide.\n                      Financial Times\n                      , February 5."},{"issue":"1","key":"S0219649225500911BIB005","first-page":"76","volume":"34","author":"Lei X","year":"2020","journal-title":"East China Economic Management"},{"issue":"5","key":"S0219649225500911BIB006","first-page":"26","volume":"24","author":"Li S","year":"2021","journal-title":"Nankai Management Review"},{"issue":"6","key":"S0219649225500911BIB007","first-page":"32","volume":"2020","author":"Li T","year":"2020","journal-title":"Journal of Jiangxi University of Finance and Economics"},{"issue":"10","key":"S0219649225500911BIB008","first-page":"20","volume":"2019","author":"Liu B","year":"2019","journal-title":"Financial Science"},{"key":"S0219649225500911BIB009","first-page":"90","volume":"20","author":"Mu J","year":"2021","journal-title":"Journal of South China Agricultural University (Social Science Edition)"},{"key":"S0219649225500911BIB010","unstructured":"Scott, M (2022). Digital bridge: CERN for social media \u2014 Lame-duck congress.\n                      Politico\n                      . https:\/\/www.politico.eu\/newsletter\/digital-bridge\/cern-for-social-media-lame-duck-congress-ai-road-map\/."},{"issue":"1","key":"S0219649225500911BIB011","first-page":"1","volume":"3","author":"Seidl T","year":"2023","journal-title":"Wieznebaum Journal of the Digital Society"},{"key":"S0219649225500911BIB012","doi-asserted-by":"publisher","DOI":"10.1080\/07036337.2024.2398430"},{"key":"S0219649225500911BIB013","unstructured":"Singer, N (2024). Maryland passes 2 major privacy bills, despite tech industry pushback.\n                      The New York Times\n                      , April 7."},{"issue":"10","key":"S0219649225500911BIB014","first-page":"2","volume":"2021","author":"Sun F","year":"2021","journal-title":"Securities Market Herald"},{"issue":"3","key":"S0219649225500911BIB015","first-page":"77","volume":"2022","author":"Wang S","year":"2022","journal-title":"Accounting Research"},{"key":"S0219649225500911BIB016","unstructured":"Wanless, A (2023). There is no getting ahead of disinformation without moving past it.\n                      Lawfare\n                      , May 8. https:\/\/www.lawfaremedia.org\/article\/there-is-no-getting-ahead-of-disinformation-without-moving-past-it."},{"key":"S0219649225500911BIB017","doi-asserted-by":"publisher","DOI":"10.1017\/9781108974158"},{"issue":"4","key":"S0219649225500911BIB018","first-page":"92","volume":"2019","author":"Wu C","year":"2019","journal-title":"Financial Research"},{"issue":"3","key":"S0219649225500911BIB019","first-page":"146","volume":"2021","author":"Wu N","year":"2021","journal-title":"Accounting Research"},{"issue":"9","key":"S0219649225500911BIB020","first-page":"77","volume":"2021","author":"Yang Y","year":"2021","journal-title":"Accounting Research"},{"issue":"7","key":"S0219649225500911BIB021","first-page":"1","volume":"2019","author":"Zhang C","year":"2019","journal-title":"Financial Research"},{"issue":"3","key":"S0219649225500911BIB022","first-page":"146","volume":"2023","author":"Zheng LY","year":"2023","journal-title":"Business Research"}],"container-title":["Journal of Information &amp; Knowledge Management"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.worldscientific.com\/doi\/pdf\/10.1142\/S0219649225500911","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,4,15]],"date-time":"2026-04-15T08:19:06Z","timestamp":1776241146000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.worldscientific.com\/doi\/10.1142\/S0219649225500911"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,9,19]]},"references-count":22,"journal-issue":{"issue":"03","published-print":{"date-parts":[[2026,3]]}},"alternative-id":["10.1142\/S0219649225500911"],"URL":"https:\/\/doi.org\/10.1142\/s0219649225500911","relation":{},"ISSN":["0219-6492","1793-6926"],"issn-type":[{"value":"0219-6492","type":"print"},{"value":"1793-6926","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,9,19]]},"article-number":"2550091"}}