The Impact of Fintech Levels on the Performance of Listed Companies

In today’s era of digital age, fintech plays a crucial role in driving innovation and efficiency across various industries. This study explores the impact of fintech levels on the performance of listed companies, focusing on its role in enhancing profitability, operational efficiency, and risk management. Using a text mining approach, a Fintech Development Index is constructed based on data from the CSMAR database (2001–2023). The findings reveal that higher levels of fintech adoption significantly enhance financial performance by alleviating information asymmetry, optimizing resource allocation, and mitigating financial risks. Regression analysis shows that fintech adoption positively impacts net profit, with the effect being stronger in non-state-owned enterprises due to their greater flexibility and faster decision-making. Additionally, the influence of fintech is found to vary across firms based on governance structures, ownership concentration, and the percentage of female executives, highlighting the nuanced pathways through which fintech drives corporate performance.