<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>By establishing difference in differences (DID) and propensity score matching-double difference method (PSM-DID) models, the paper investigates the effect of the two pilot policies which promotes the combination of technology and finance based on the enterprise value with the available data from Shanghai and Shenzhen A-share listed companies in China from 2008 to 2019. Empirical results show that the first and second pilots of technological finance cause a significant increase and decrease in the enterprise value, respectively. These conclusions validate the effectiveness of China's technological finance policy from the enterprise value and provide empirical data support for optimising technological finance policies of the government and high-quality development of enterprises in the new era.</p>
</abstract>

By establishing difference in differences (DID) and propensity score matching-double difference method (PSM-DID) models, the paper investigates the effect of the two pilot policies which promotes the combination of technology and finance based on the enterprise value with the available data from Shanghai and Shenzhen A-share listed companies in China from 2008 to 2019. Empirical results show that the first and second pilots of technological finance cause a significant increase and decrease in the enterprise value, respectively. These conclusions validate the effectiveness of China's technological finance policy from the enterprise value and provide empirical data support for optimising technological finance policies of the government and high-quality development of enterprises in the new era.

Difference-in-differences test for micro effect of technological finance cooperation pilot in China

Financial Synergy Innovation of Science and Technology Center in Hebei Province

Science and Technology Finance Key Laboratory of Hebei Province

Applied Mathematics and Nonlinear Sciences

This work is licensed under the Creative Commons Attribution 4.0 International License.

By establishing difference in differences (DID) and propensity score matching-double difference method (PSM-DID) models, the paper investigates the effect of...

Difference-in-differences test for micro effect of technological finance cooperation pilot in China

Published Online: May 20, 2022

Page range: 891 - 902

Received: Jul 26, 2021

Accepted: Dec 06, 2021

DOI: https://doi.org/10.2478/amns.2021.2.00173

Keywords
difference-in-differences model, PSM-DID model, micro effect, technological finance cooperation pilot

© 2021 Guiping Li et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Difference-in-differences test for micro effect of technological finance cooperation pilot in China

Published Online: May 20, 2022

Page range: 891 - 902

Received: Jul 26, 2021

Accepted: Dec 06, 2021

DOI: https://doi.org/10.2478/amns.2021.2.00173

Keywordsdifference-in-differences model, PSM-DID model, micro effect, technological finance cooperation pilot

© 2021 Guiping Li et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
difference-in-differences model, PSM-DID model, micro effect, technological finance cooperation pilot