银行金融科技创新如何影响企业价值链升级OA

Against the backdrop of the digital economy,financial technology(fin-tech)has increasingly become a key driver of high-quality development in the real e-conomy.This study innovatively constructs a Bank Fintech Innovation Index and in-corporates it into a theoretical framework for analyzing enterprise value chain up-grading.Using panel data from Chinese A-share listed firms over the period 2011-2023,the paper systematically examines the mechanisms through which bank fin-tech innovation influences value chain upgrading.The findings indicate that bank fintech innovation significantly promotes enterprise value chain upgrading,with stronger effects observed among non-state-owned enterprises and those operating in high-technology industries.Mediation analysis reveals that bank fintech innovation facilitates value chain upgrading through three primary channels:enhancing firms' sustained innovation capability,curbing corporate financialization,and improving total factor productivity.Further analysis shows that both government subsidies and managerial compensation incentives positively moderate the effect of bank fin-tech innovation,with the moderating role of managerial compensation incentives being more pronounced.This study provides a novel theoretical perspective for un-derstanding how fintech empowers high-quality development in the real economy,and offers empirical evidence for optimizing fintech-related policies and corporate innovation incentive mechanisms.