The Impact of Corporate FinTech Level on Stock Volatility

DOI

10.2991/978-94-6239-701-9_105How to use a DOI?

Keywords

corporate FinTech level; stock volatility; two-way fixed effects model

Abstract

Based on panel data of A-share listed companies from 2010 to 2023, this paper empirically investigates the impact of corporate FinTech level on stock volatility. By constructing a corporate FinTech index through textual analysis and employing a two-way fixed effects model to control for individual and time effects, the study finds a significant negative correlation between corporate FinTech level and stock volatility, indicating that FinTech development helps curb abnormal stock price fluctuations. This conclusion remains robust after a series of robustness tests. Mechanism analysis reveals that FinTech reduces stock volatility primarily through three channels: improving information disclosure quality, optimizing capital allocation efficiency, and enhancing corporate risk governance capability. Heterogeneity analysis further shows that the above effects are more pronounced in non-state-owned enterprises, high-tech industries, and regions with developed financial markets. This study provides micro-level evidence for understanding the role of FinTech in stabilizing capital markets and offers practical implications for promoting corporate digital transformation and improving financial regulatory policies.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Xuehong Deng
PY  - 2026
DA  - 2026/07/30
TI  - The Impact of Corporate FinTech Level on Stock Volatility
BT  - Proceedings of the 2026 11th International Conference on Social Sciences and Economic Development (ICSSED 2026)
PB  - Atlantis Press
SP  - 1021
EP  - 1029
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-701-9_105
DO  - 10.2991/978-94-6239-701-9_105
ID  - Deng2026
ER  -