Table 2.

Definition of primary variables.

Variable classification	Variable name	Variable symbol	Variable definition
Explained variable	Enterprise innovation	Innov	R&D expenditure/total assets
Explanatory variable	Digital economy	Dige	Entropy weight method
Metavariable	Financing constraints	SA	Refer to Eq. (1)
Control variable	Enterprise Scale	Size	Take the log of total assets
	Asset liability ratio	Lev	Total liabilities/total assets
	Return on assets	Roa	Net profit/total assets
	Concentration of ownership	Share	Share proportion of the largest shareholder
	Total Asset turnover	Tat	Sales revenue/total assets
	Fixed assets ratio	Ppe	Fixed assets/total assets
	Management fee rate	Mfee	Overhead/operating income
	Year	Year	Year dummy variable