Impact of Digital Finance on Sports Industry Resilience

Abstract

In the face of growing global economic uncertainty and the rapid expansion of the domestic sports industry, bolstering this sector's
resilience is essential for promoting high-quality growth. This study uses panel data from 29 Chinese provinces from 2015 to 2022 to create a comprehensive framework for evaluating sports industry resilience, focusing on four dimensions: resistance, recovery, reorganize, and
renewal. It also empirically investigates how digital finance influences this resilience. The findings reveal that: 1) Digital finance significantly
enhances sports industry resilience, with varying effects across the four dimensions; its impact is strongest on resistance, while renewal shows
no significant effect; 2) Innovation and entrepreneurship act as intermediary factors, with innovation playing a more crucial role, highlighting
the importance of innovation-driven efforts; 3) In terms of structural heterogeneity, the depth of digital finance's impact exceeds its breadth
and the degree of digitalization in use. Regional analysis shows a stronger coastal effect compared to inland areas. This paper provides theoretical support and policy insights for understanding digital finance's role in sports industry resilience. It suggests optimizing digital financial
services, fostering innovation and entrepreneurship, enhancing regional adaptability, and improving policy coordination and institutional support to strengthen the sports industry's ability to withstand shocks and achieve sustainable development.