With the unique data on Chinese listed companies’ online sales through e-commerce platforms from 2015-2020, this paper investigates the impact of online sales on firms’ debt financing costs. The results show that online sales significantly reduce firms’ debt financing costs, and the...

The digital economy plays an important role in society and the economy. However, we know little about what factors affect the development of the digital economy. Using a self-developed index for measuring Chinese provincial-level digital economy development, this paper examines the impact of...