Can Digital Inclusive Finance Improve the Financial Performance of SMEs?

Wei Yu, Huiqin Huang, Xinyan Kong, Keying Zhu

Research output: Journal PublicationArticlepeer-review

2 Citations (Scopus)


Our paper takes the sample of listed companies from Shanghai and Shenzhen A-share SMEs and then theoretically analyzes and empirically tests the impact of digital inclusive finance on the financial performance of SMEs. The results show that financial performance of SMEs located in areas with a higher level of digital inclusive finance is significantly higher. Digital inclusive finance can play a role in expanding the scale of innovative investment, reducing the cost of debt financing and improving the ability of risk-taking, thereby strengthening the financial performance of SMEs. Our findings enrich the academic research on the topic of digital inclusive finance from the perspective of SMEs and provide suggestions to the government, banks and SMEs to continually implement the digital inclusive finance policy.

Original languageEnglish
Article number1867
JournalSustainability (Switzerland)
Issue number3
Publication statusPublished - Feb 2023


  • debt-financing cost
  • digital inclusive finance
  • financing performance
  • innovative investment scale
  • risk-taking ability

ASJC Scopus subject areas

  • Computer Science (miscellaneous)
  • Geography, Planning and Development
  • Renewable Energy, Sustainability and the Environment
  • Environmental Science (miscellaneous)
  • Energy Engineering and Power Technology
  • Hardware and Architecture
  • Computer Networks and Communications
  • Management, Monitoring, Policy and Law


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