Fintech and Corporate Digital Transformation: A Data Analysis Based on Chinese Internet Users' Annual Search Frequency

The development of Fintech provides new solutions for Chinese corporate to digital transformation. Accordingly, this study constructs Fintech indicators using the annual search frequency of Internet users on Fintech related keywords, and analyses data from a sample of Chinese A-share listed companies from 2011-2021 to quantitatively analyse the impact of Fintech on corporate digital transformation. This study finds that fintech promotes corporate digital transformation, and the results still hold after PSM, DID, and other robustness tests. In addition, alleviating financing constraints is the intrinsic mechanism of this effect. The research in this paper provides empirical evidence to promote the development of blockchain, cloud computing, artificial intelligence and other cutting-edge technologies to innovate the financial industry and accelerate the integration of digital technology and the real economy.