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A Systematic Literature Review on the Influence Mechanism of Digital Finance on Economic Growth 数字金融对经济增长影响机制的系统文献综述
Pub Date : 2022-07-10 DOI: 10.54560/jracr.v12i2.328
Mu Zhang, Yuke Luo
To further promote the theoretical research on digital finance's effective support for high-quality development of the real economy, this paper reviews the current status of domestic and foreign research on the impact mechanism of digital finance on the real economy and the impact mechanism of digital finance on economic growth. At present, domestic and foreign research on the impact mechanism of digital finance on the real economy mainly includes the basic transmission mechanism featuring the improvement of financing availability and guiding the flow of funds in the real economy, and the indirect transmission mechanism using innovation and R&D as a channel. Domestic and foreign research on the impact mechanism of digital finance on economic growth mainly includes: the direct impact mechanism featuring the improvement of financial services universality and efficiency, and the indirect impact mechanism with resident consumption, innovation and entrepreneurship, industrial structure transformation, and business environment as the channels. Future research directions include: deepening the research on the indirect transmission mechanism of digital finance to the real economy; expanding the research on the indirect impact mechanism of digital finance on economic growth.
为进一步推动数字金融有效支持实体经济高质量发展的理论研究,本文综述了国内外关于数字金融对实体经济影响机制和数字金融对经济增长影响机制的研究现状。目前,国内外对数字金融对实体经济影响机制的研究主要包括以提高融资可得性、引导实体经济资金流动为特征的基本传导机制,以及以创新和研发为渠道的间接传导机制。国内外对数字金融对经济增长影响机制的研究主要包括:以提高金融服务普遍性和效率为特征的直接影响机制,以及以居民消费、创新创业、产业结构转型、营商环境为渠道的间接影响机制。未来的研究方向包括:深化数字金融对实体经济的间接传导机制研究;拓展数字金融对经济增长的间接影响机制研究。
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引用次数: 0
Coupling Coordinated Development of Ecological Environment and Digital Inclusive Finance in Ecologically Fragile Areas of Western China 西部生态脆弱地区生态环境与数字普惠金融耦合协调发展
Pub Date : 2022-04-15 DOI: 10.54560/jracr.v12i1.320
Xudong Cai, Hongmei Zhang
This paper takes 12 ecologically fragile provinces in Western China as the research object, calculates the comprehensive evaluation value of ecological environment and the development level of digital Inclusive Finance of 12 provinces in Western China from 2011 to 2020 by constructing the evaluation index system, and analyzes the changes of ecological environment and digital Inclusive Finance coordination scheduling by using the coupling coordination degree model. The results show that: the overall ecological environment assessment of 12 provinces in the west is on the rise; The level of digital Inclusive Finance has also increased year by year. The coordination degree is on the verge of maladjustment to primary coordination, and the coordination index is on the rise, which indicates that the relationship between the western ecological environment and digital Inclusive Finance is gradually easing and tends to coordinated development.
本文以西部12个生态脆弱省份为研究对象,通过构建评价指标体系,计算西部12个省份2011 - 2020年生态环境综合评价值和数字普惠金融发展水平,并利用耦合协调度模型分析生态环境变化与数字普惠金融协调调度。结果表明:西部12省生态环境总体评价呈上升趋势;数字普惠金融水平也逐年提升。协调度处于初级协调失调的边缘,协调指数呈上升趋势,表明西部生态环境与数字普惠金融的关系逐渐缓和,趋于协调发展。
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引用次数: 0
A Systematic Literature Review on the Influence Mechanism of Digital Finance on High Quality Economic Development 数字金融对经济高质量发展影响机制的系统文献综述
Pub Date : 2022-04-15 DOI: 10.54560/jracr.v12i1.321
Mu Zhang, Q. Luo
To further promote the theoretical research that digital finance effectively supports the high-quality development of the real economy, this paper reviews the current situation of domestic and international research on the connotation of digital finance, the connotation of high-quality development of the real economy, and the influence mechanism of digital finance on high-quality economic development. At present, the research on the connotation of digital finance and the connotation of high-quality development of the real economy at home and abroad has been relatively mature. Domestic and foreign research on the influence mechanism of digital finance of high-quality economic development mainly includes direct influence mechanism featuring capital allocation effect and inclusive effect, and indirect influence mechanism featuring innovative development, coordinated development, green development, open development, shared development, and industrial structure transformation and upgrading as channels. Future research directions include: deepening the research on the indirect influence mechanism of digital finance on the high-quality economic development; deepening the research on the influence mechanism of digital finance on the high-quality development of the real economy.
为进一步推进数字金融有效支持实体经济高质量发展的理论研究,本文综述了国内外关于数字金融内涵、实体经济高质量发展内涵、数字金融对经济高质量发展的影响机制的研究现状。目前,国内外对数字金融内涵和实体经济高质量发展内涵的研究已经相对成熟。国内外对数字金融对经济高质量发展的影响机制的研究,主要包括以资本配置效应、包容性效应为特征的直接影响机制,以及以创新发展、协调发展、绿色发展、开放发展、共享发展、产业结构转型升级为渠道的间接影响机制。未来的研究方向包括:深化数字金融对经济高质量发展的间接影响机制研究;深化数字金融对实体经济高质量发展的影响机制研究。
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引用次数: 3
A Literature Review on the Transmission Mechanism of Innovation and Entrepreneurship for Digital Finance to Effectively Support the High-quality Development of Real-economy 数字金融创新创业有效支持实体经济高质量发展的传导机制研究
Pub Date : 2022-04-15 DOI: 10.54560/jracr.v12i1.322
Wen-yu Wang, Hongmei Zhang
From the perspective of innovation and entrepreneurship, we have collected relevant research results in the past few years (2018-present). Based on the collected data, a significant amount of research has been conducted up to the year 2022, indicating that experts and scholars are increasingly focused on the transmission of digital finance to a higher standard of development of the real-economy. Existing research is largely devoted to the transmission mechanisms of "digital finance-innovation and entrepreneurship" or "innovation and entrepreneurship-the high-quality development of the real-economy". There is little overview of "digital finance-innovation and entrepreneurship-the quality development of the real-economy." In this paper, we review relevant literature in the context of innovation and entrepreneurship, which may provide some useful guidance for improving the digital financial system and enhancing the growth of the real-economy.
从创新创业的角度,我们收集了过去几年(2018年至今)的相关研究成果。根据收集到的数据,到2022年已经进行了大量的研究,表明专家和学者越来越关注数字金融对实体经济发展的更高标准的影响。现有的研究主要集中在“数字金融-创新创业”或“创新创业-实体经济高质量发展”的传导机制上。关于“数字金融-创新创业-实体经济高质量发展”的概述很少。本文对创新创业背景下的相关文献进行梳理,以期为完善数字金融体系、促进实体经济增长提供有益的指导。
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引用次数: 1
LNG Bunkering QRA: A Case Study on the Port of Piraeus LNG加注QRA:以比雷埃夫斯港为例
Pub Date : 2022-04-15 DOI: 10.54560/jracr.v12i1.318
N. Ventikos, Vasileios C. Podimatas, A. Koimtzoglou
The use of LNG as maritime fuel is a viable option when it comes to reducing the harmful emissions produced by vessels throughout the world, to comply with IMO's Annex VI requirements. However, since the concept is gaining constant focus, special attention must be paid, so that stakeholders fully comprehend LNG's unique properties and hazards, as well as be aware of the standard procedures and best practices that must be followed when handling and storing LNG. In this paper, a Quantitative Risk Assessment (QRA) methodology is presented along with its application on an LNG bunkering case study at the Port of Piraeus. As a result, LNG's properties are considered, potential hazards are identified, failure frequencies are determined, and accidental consequences are modelled. Having evaluated these parameters, Individual Risk (IR) is assessed, safety distances are outlined, risk drivers are identified.
当涉及到减少全球船舶产生的有害排放时,使用液化天然气作为船用燃料是一个可行的选择,以符合IMO附件VI的要求。然而,由于这一概念不断受到关注,因此必须给予特别关注,以便利益相关者充分了解液化天然气的独特特性和危害,并了解在处理和储存液化天然气时必须遵循的标准程序和最佳实践。本文提出了一种定量风险评估(QRA)方法,并将其应用于比雷埃夫斯港的LNG加注案例研究。因此,考虑了液化天然气的特性,识别了潜在危险,确定了故障频率,并对事故后果进行了建模。在评估了这些参数后,评估了个体风险(IR),概述了安全距离,确定了风险驱动因素。
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引用次数: 1
Financial Distress Prediction for Digital Economy Firms: Based on PCA-Logistic 数字经济企业财务困境预测:基于PCA-Logistic
Pub Date : 2022-04-15 DOI: 10.54560/jracr.v12i1.319
D. Li, Kai Xu, Yun Li, Yu Jiang, Ming Tang, Yangdan Lu, Chun Cheng, Chunxiao Wang, Guan-bing Mo
Financial distress prediction is important for risk prevention and control of digital economy firms, as well as going concern guarantee. This paper takes 100 Chinese A-share listed digital economy firms from 2017 and 2021 as samples, obtains financial indicators by combining the characteristics of digital economy firms, the first three periods of financial distress are systematically modeled employs Logistic regression, while we use the Principal Component Analysis method to deal with the problem of multicollinearity. The results show that the profitability factor has the greatest contribution to the predictive role; the closer to the year in which the financial distress occurred, the higher the prediction accuracy rate. Finally this model achieves 86% prediction accuracy. The successful modelling provides a basis for information users to determine the financial distress of firms accurately and prospectively in the digital economy.
财务困境预测是数字经济企业风险防控和持续经营保障的重要内容。本文以2017年和2021年的100家中国a股数字经济上市公司为样本,结合数字经济公司的特点得到财务指标,采用Logistic回归对前三期财务困境进行系统建模,同时采用主成分分析方法处理多重共线性问题。结果表明,盈利能力因子对预测作用的贡献最大;越接近金融危机发生的年份,预测准确率越高。最后,该模型达到了86%的预测精度。成功的模型为信息使用者准确和前瞻性地确定数字经济中企业的财务困境提供了基础。
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引用次数: 3
Financial Technology, Big Data Enterprise Financing Constraints and Big Data Industry Development: Empirical Analysis Based on Mediating Effect and Threshold Effect 金融科技、大数据企业融资约束与大数据产业发展:基于中介效应和门槛效应的实证分析
Pub Date : 2022-01-25 DOI: 10.54560/jracr.v11i4.309
Mu Zhang, Cheng-Fu Cao, Zhiyuan Lv
Based on theoretical analysis, we select the relevant data of 30 provinces (autonomous regions and municipalities) in China from 2013 to 2019, and empirically test the impact of financial technology on the development of big data industry and its mechanism using dynamic panel data model, mediating effect test method and threshold effect model. The benchmark regression results show that the regression coefficient of financial technology to big data industry is significantly positive at the significance level of 10%, indicating that the financial technology can directly promote the development of big data industry. The regression coefficient of the dynamic lag term of big data industry is negative, but not significant, indicating that the dynamic lag effect of big data industry is not obvious. The mediating effect test results show that the financial technology can indirectly promote the development of big data industry by alleviating the big data enterprise financing constraints. The big data enterprise financing constraints have a partial mediating effect, and the mediating effect account for 27.63% of the total effect. In addition, the threshold effect test results show that the direct effect of financial technology on big data industry is significantly enhanced when the development level of financial technology is higher than 5.8790, that is, there is a positive threshold effect of financial technology directly promoting the development of big data industry. However, the indirect effect of financial technology on big data industry is relatively weak when the development level of financial technology is higher than 5.4328, that is, financial technology indirectly promotes the development of big data industry by alleviating the big data enterprise financing constraints, which has a negative threshold effect.
在理论分析的基础上,选取2013 - 2019年中国30个省(区、市)的相关数据,运用动态面板数据模型、中介效应检验方法和阈值效应模型,实证检验金融科技对大数据产业发展的影响及其机制。基准回归结果显示,金融科技对大数据产业的回归系数在10%的显著性水平下为显著正,表明金融科技可以直接促进大数据产业的发展。大数据产业动态滞后项的回归系数为负,但不显著,说明大数据产业的动态滞后效应不明显。中介效应检验结果表明,金融科技可以通过缓解大数据企业融资约束,间接促进大数据产业的发展。大数据企业融资约束具有部分中介效应,中介效应占总效应的27.63%。此外,门槛效应检验结果显示,当金融科技发展水平高于5.8790时,金融科技对大数据产业的直接效应显著增强,即金融科技直接促进大数据产业发展存在正向门槛效应。而当金融科技发展水平高于5.4328时,金融科技对大数据产业的间接效应相对较弱,即金融科技通过缓解大数据企业融资约束,间接促进了大数据产业的发展,具有负门槛效应。
{"title":"Financial Technology, Big Data Enterprise Financing Constraints and Big Data Industry Development: Empirical Analysis Based on Mediating Effect and Threshold Effect","authors":"Mu Zhang, Cheng-Fu Cao, Zhiyuan Lv","doi":"10.54560/jracr.v11i4.309","DOIUrl":"https://doi.org/10.54560/jracr.v11i4.309","url":null,"abstract":"Based on theoretical analysis, we select the relevant data of 30 provinces (autonomous regions and municipalities) in China from 2013 to 2019, and empirically test the impact of financial technology on the development of big data industry and its mechanism using dynamic panel data model, mediating effect test method and threshold effect model. The benchmark regression results show that the regression coefficient of financial technology to big data industry is significantly positive at the significance level of 10%, indicating that the financial technology can directly promote the development of big data industry. The regression coefficient of the dynamic lag term of big data industry is negative, but not significant, indicating that the dynamic lag effect of big data industry is not obvious. The mediating effect test results show that the financial technology can indirectly promote the development of big data industry by alleviating the big data enterprise financing constraints. The big data enterprise financing constraints have a partial mediating effect, and the mediating effect account for 27.63% of the total effect. In addition, the threshold effect test results show that the direct effect of financial technology on big data industry is significantly enhanced when the development level of financial technology is higher than 5.8790, that is, there is a positive threshold effect of financial technology directly promoting the development of big data industry. However, the indirect effect of financial technology on big data industry is relatively weak when the development level of financial technology is higher than 5.4328, that is, financial technology indirectly promotes the development of big data industry by alleviating the big data enterprise financing constraints, which has a negative threshold effect.","PeriodicalId":31887,"journal":{"name":"Journal of Risk Analysis and Crisis Response JRACR","volume":"60 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77222648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
A Literature Review on Digital Finance, Consumption Upgrading and High-quality Economic Development 数字金融、消费升级与经济高质量发展的文献综述
Pub Date : 2022-01-25 DOI: 10.54560/jracr.v11i4.312
G. Feng, Mu Zhang
Under the background of China's high-quality development and "domestic and international double circulation", it is required to gradually optimize the economic structure and social structure while ensuring economic growth. The role of consumption is increasingly prominent. The development of digital finance can promote residents' consumption and consumption upgrading, which in turn can promote high-quality economic development. In order to promote high-quality economic development, this paper reviews the literature in relevant fields, and finds that the literature that studies the three topics simultaneously is still very rare. The research on digital finance and high-quality economic development from the perspective of consumption upgrading is still very rare. It is suggested that the corresponding research can be conducted from the perspective of consumption upgrading in the future.
在中国高质量发展和“国内外双循环”的大背景下,要求在保证经济增长的同时,逐步优化经济结构和社会结构。消费的作用日益突出。数字金融的发展可以促进居民消费和消费升级,进而促进经济高质量发展。为了促进经济的高质量发展,本文对相关领域的文献进行了梳理,发现同时研究这三个主题的文献仍然非常少。从消费升级的角度对数字金融与经济高质量发展的研究还很少见。建议今后可以从消费升级的角度进行相应的研究。
{"title":"A Literature Review on Digital Finance, Consumption Upgrading and High-quality Economic Development","authors":"G. Feng, Mu Zhang","doi":"10.54560/jracr.v11i4.312","DOIUrl":"https://doi.org/10.54560/jracr.v11i4.312","url":null,"abstract":"Under the background of China's high-quality development and \"domestic and international double circulation\", it is required to gradually optimize the economic structure and social structure while ensuring economic growth. The role of consumption is increasingly prominent. The development of digital finance can promote residents' consumption and consumption upgrading, which in turn can promote high-quality economic development. In order to promote high-quality economic development, this paper reviews the literature in relevant fields, and finds that the literature that studies the three topics simultaneously is still very rare. The research on digital finance and high-quality economic development from the perspective of consumption upgrading is still very rare. It is suggested that the corresponding research can be conducted from the perspective of consumption upgrading in the future.","PeriodicalId":31887,"journal":{"name":"Journal of Risk Analysis and Crisis Response JRACR","volume":"42 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88240841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 10
Research on Enterprise Credit Risk Prediction Based on Text Information 基于文本信息的企业信用风险预测研究
Pub Date : 2022-01-25 DOI: 10.54560/jracr.v11i4.311
Haonan Zhang, Hongmei Zhang, Mu Zhang
This paper uses the text data mining method to separate the intonation in the annual reports of credit risk enterprises and non-credit risk enterprises, quantify it, and study the impact of annual report intonation on the effectiveness of credit risk prediction. In the empirical research, this paper uses the factor analysis method for some traditional financial variables, and uses the extracted components and intonation variables to predict the credit risk through the logistic model. The results show that the tone of enterprises with credit risk is more negative, and the degree of pessimism is significantly positively correlated with the probability of credit risk. By comparing the ROC curves of the prediction results before and after the addition of intonation variables, adding intonation variables to the credit risk prediction based on financial variables can improve the effectiveness of the prediction.
本文采用文本数据挖掘的方法,对信用风险企业和非信用风险企业年报中的语调进行分离,并进行量化,研究年报语调对信用风险预测有效性的影响。在实证研究中,本文对一些传统的金融变量采用因子分析方法,并利用提取出来的成分和语调变量,通过logistic模型对信用风险进行预测。结果表明,信用风险企业的基调更为消极,悲观程度与信用风险发生概率显著正相关。通过对比加入语调变量前后预测结果的ROC曲线可知,在基于金融变量的信用风险预测中加入语调变量可以提高预测的有效性。
{"title":"Research on Enterprise Credit Risk Prediction Based on Text Information","authors":"Haonan Zhang, Hongmei Zhang, Mu Zhang","doi":"10.54560/jracr.v11i4.311","DOIUrl":"https://doi.org/10.54560/jracr.v11i4.311","url":null,"abstract":"This paper uses the text data mining method to separate the intonation in the annual reports of credit risk enterprises and non-credit risk enterprises, quantify it, and study the impact of annual report intonation on the effectiveness of credit risk prediction. In the empirical research, this paper uses the factor analysis method for some traditional financial variables, and uses the extracted components and intonation variables to predict the credit risk through the logistic model. The results show that the tone of enterprises with credit risk is more negative, and the degree of pessimism is significantly positively correlated with the probability of credit risk. By comparing the ROC curves of the prediction results before and after the addition of intonation variables, adding intonation variables to the credit risk prediction based on financial variables can improve the effectiveness of the prediction.","PeriodicalId":31887,"journal":{"name":"Journal of Risk Analysis and Crisis Response JRACR","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88105254","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Focus on Risk Crisis Management! 2021 Symposium on Disaster Risk Analysis and Management in Chinese Littoral Regions Was Held in Wenzhou 关注风险危机管理!2021中国沿海地区灾害风险分析与管理研讨会在温州召开
Pub Date : 2022-01-25 DOI: 10.54560/jracr.v11i4.313
A. Pan, Yutong Luo
{"title":"Focus on Risk Crisis Management! 2021 Symposium on Disaster Risk Analysis and Management in Chinese Littoral Regions Was Held in Wenzhou","authors":"A. Pan, Yutong Luo","doi":"10.54560/jracr.v11i4.313","DOIUrl":"https://doi.org/10.54560/jracr.v11i4.313","url":null,"abstract":"","PeriodicalId":31887,"journal":{"name":"Journal of Risk Analysis and Crisis Response JRACR","volume":"38 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87100902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
期刊
Journal of Risk Analysis and Crisis Response JRACR
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