Unleashing the power of integrated digital finance and technological innovation to transform the world

In a rapidly digitising global economy, the integration of digital finance and technological innovation presents a powerful avenue for promoting financial inclusion and enterprise development. This study investigates how digital finance influences organizational creativity and performance across the life cycle of firms, particularly in the Chinese context from 2011 to 2022. The research aims to (1) map the interaction between digital inclusive finance and innovation across enterprise stages, (2) identify gaps in current research, and (3) provide practical guidance for stakeholders. Using firm-level panel data and logistic regression models with robustness checks, instrumental variable estimation, and mediation analysis, the study introduces the Digital Finance Accessibility Index (DFA) as a key explanatory variable. Empirical results reveal that a 1% increase in DFA significantly boosts enterprise digital growth (EDG) by 0.081%; the effect is more pronounced in state-owned enterprises (SOEs) compared to non-state-owned firms. Furthermore, digitization mediates the relationship between digital finance and organizational innovation, amplifying creative outcomes. The study also uncovers stronger digital impacts during growth stages than startup phases. These findings underscore the need for collaborative policy efforts to expand equitable access to digital financial tools, especially for SMEs and underserved communities, to drive inclusive innovation and sustainable economic growth. First published online 14 May 2026