핀테크 확산이 기업의 성과에 미치는 영향: 중국 사례를 중심으로

FinTech has been credited with generating positive economic outcomes by improving access to financial services through technological innovations. This study examines how FinTech diffusion impacts firm performance using the case of China—one of the world’s fastest-growing FinTech markets. Moreover, given China’s unique economic landscape—characterized by disparities between the eastern regions and the rest of the country, largely due to early policy decisions that prioritized efficient growth during the Reform and Opening-up period—regional variables (eastern vs. central-western) are incorporated into the model. A random effects model analysis was conducted using panel data collected over six years from listed companies in China. The hypothesis that the level of FinTech diffusion would have a positive impact on firm performance was not supported at the 5% significance level. However, statistical evidence was found for the moderating effect of regional disparities. Specifically, in regions with lower levels of economic development and underdeveloped financial infrastructure—where access to traditional financial services is constrained—the positive impact of FinTech diffusion was more pronounced. These findings suggest that while the economic benefits of FinTech diffusion may not uniformly enhance corporate performance, they can vary depending on contextual factors such as regional disparities.