The Impact of Fintech on Corporate Technology Innovation Based on Driving Effects, Mechanism Identification, and Heterogeneity Analysis

Table 5

Intermediary mechanisms, financing constraints.

	(1)	(2)	(3)
	Number of patent applications	SA index	Number of patent applications
Total Digital Inclusive Finance Index	0.113	0.000	0.098
	(3.09)	(3.06)	(2.70)
SA index			78.527
			(20.11)
_cons	−7.415	−4.105	314.906
	(−1.79)	(−567.94)	(19.04)
Control variable	Yes	Yes	Yes
Time effects	Yes	Yes	Yes
Individual effect	Yes	Yes	Yes
N	24711	24703	24703
R^2	0.019	0.088	0.037