数字普惠金融能否缓解中小体育企业的融资约束？

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中图分类号：G80 文献标识码：A 文章编号：1007-323X（2025）06-0060-11

Can Digital Inclusive Finance Ease the Financing Constraints of SMEs in Sports Industry？

MO Dong-yan 1，2 ，LAN Yi-meng'，LI Jia-xuan³

（1.Scholofcouting，ogeiUiversityofFane&Econics，aliaO，ia;inItealotrlResacCte DongbeiUniversiyofance&Eonics，aliaO，hia;3.SholofountingandFnance，YantaiInstituteofTolog， Yantai264003，China）

Abstract： This study empirically examines the impact of digital inclusive finance on financing constraints and its underlying mechanisms， using small and medium-sized enterprises （SMEs） in sports industry list on China's National Equities and Quotations from 20l4 to 2024 as the observation sample.The main findings areas follows： First，digital inclusive finance efectively mitigate financing constraints for SMEs in the sports industry. Second， this alleviation is primarily achieved through two channels： enhancing internal financing capacity and reducing external financing costs.Further analysis reveals that among multiple sub-dimensions of digital inclusive finance， serves as the primary driver relative to usage depth and digitalization levels. Meanwhile， the mitigating impact of digital inclusive finance on SMEs'financing constraints is more pronounced in regions with higher adoption rates and more developed digital infrastructure construction. These findings not only provide novel empirical evidence for sports enterprises but also offer theoretical foundations and practical guidance for decision-making by governments，financial institutions，and SMEs in the sports industry.

Keywords： digital inclusive finance， small and medium-sized enterprises in sports industry financing constraints

习近平总书记提出“体育强则中国强，国运兴则体育兴”，党的二十大发出“加快体育强国建设”的号召，进一步强调了体育在全面建成社会主义现代化强国中的重要地位。（剩余15321字）