摘要
随着金融科技与传统银行不断融合渗透,银行数字化转型能否带来更好的绩效,成为业界和学界关注的焦点。本文从理论上分析了数字化转型对银行绩效的影响机制,以2010~2018年228家商业银行为样本,实证研究了商业银行数字化转型对经营绩效的影响效应与渠道。研究发现:(1)数字化转型与银行经营绩效之间呈现先降后升的“U”型关系,该结论在一系列稳健性检验下仍然成立。(2)数字化转型会通过成本、盈利、竞争、效率和风险五个渠道对银行绩效产生非线性影响。(3)进一步的异质性分析发现,注册地所处城市数字普惠金融发展水平会弱化数字化转型对银行绩效的提振效应,外部金融科技具有挤出效应;个人客户占比较大的银行以及资金雄厚、组织完善的上市银行,数字化转型对绩效的影响更为显著。本文的研究表明,商业银行数字化转型具有典型的“成本递减、收益递增”特征,数字化转型有利于银行更好地深耕长尾市场。
With the continuous integration and penetration of fintech and tradi⁃tional banks,whether the digital transformation of banks can bring better perform⁃ance has become the focus of the industry and academia.This paper empirically tests the effects and its channels of digital transformation on bank performance of commer⁃cial banks using unbalanced bank⁃level panel data from 228 commercial banks for the period from 2011 to 2018.We find robust evidence that the nexus between digital transformation and bank performance is a U⁃shaped trend,with Fintech initially weakening and then intensifying bank's performance,and this conclusion still holds under a series of robustness tests.What's more,Digital transformation will have non⁃linear impact on bank performance through five channels:cost,profit,competition,efficiency and risk.The heterogeneity analysis further indicates that the level of digi⁃tization in the cities of registration will weaken the boosting effect on bank perform⁃ance,and external fintech has crowding out effect.Moreover,The impact of digital transformation on performance is more significant for banks with large proportion of individual customers and listed banks with abundant capital and perfect organiza⁃tion.Last but not least,this paper shows that the digital transformation of commercial banks has the typical characteristics of“decreasing costs and increasing returns”,and the digital transformation is beneficial for banks to better cultivate the long tail market.
作者
何小钢
罗欣
何杨
HE Xiaogang;LUO Xin;HE Yang(Industrial Economics Research Institute of Jiangxi University of Finance and Economics,Nanchang,Jiangxi 330013;AVIC Securities Co.,Ltd.Securities Underwriting and Recommendation Branch,Nanchang,Jiangxi 330013)
出处
《产业组织评论》
2022年第4期46-72,共27页
Industrial Organization Review
基金
国家自然科学基金项目“信息通讯技术与企业生产率:理论机制、实现路径与微观证据”(71963017)
国家自然科学基金项目“机器人使用的就业与收入效应:理论机制、微观证据与政策设计”(72163016)
国家社会科学基金重大项目“后扶贫时代中国城乡相对贫困统计测度与治理机制研究”(20&ZD131)
关键词
商业银行
金融科技
数字化转型
经营绩效
commercial bank
fintech
digital transformation
business per⁃formance
