Research on the Impact of Digital Inclusive Finance on the Technological Complexity of Enterprises' Exports

This paper explores the impact of digital inclusive finance on the technological complexity of enterprises' export products and its underlying mechanisms. Based on data from Chinese A-share listed companies between 2012 and 2016, the study finds that digital inclusive finance significantly enhances the technological complexity of export products by optimizing resource allocation, strengthening innovation incentives, and improving information efficiency. Heterogeneity analysis reveals that digital inclusive finance has a more pronounced effect on upgrading export technological complexity in western regions, non-state-owned enterprises, and enterprises with integrated chairman and general manager positions. Mechanism analysis further confirms that optimized resource allocation, innovation incentives, and improved information efficiency are critical pathways through which digital inclusive finance influences the technological complexity of enterprises' export products.