Does Intelligent Technological Transformation Matter for Access to Finance?

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This study investigates the impact of intelligent technological transformation on financial access. Existing literature mostly focuses on the influence of external finance on entrepreneurship, productivity, and artificial intelligence, with limited research assessing how intelligent technological transformation affects their access to finance. Using China's Smart Manufacturing Pilot Program since 2015, we employ difference-in-differences model to examine the promoting effect of intelligent technological transformation on access to bank loans. Our analysis reveals firms with smart manufacturing technologies obtain more loans from banks. Channel analysis shows that significantly amplifying firm reputation and strengthening competitive capabilities from intelligent technological transformation improves their access to bank loans. These findings shed light on the role of intelligent transformation activities in access to finance resources.

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