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Research On The Impact Of Digital Finance On The Efficiency And Systemic Risk Of Commercial Banks

Posted on:2023-02-11Degree:DoctorType:Dissertation
Country:ChinaCandidate:L H ZuoFull Text:PDF
GTID:1529307307488994Subject:Applied Economics
Abstract/Summary:PDF Full Text Request
With the further deepening of the development of the digital economy and the continuous outbreak of COVID-19,the demand for "contactless" financial services has increased.In the past decade,a technological form has been formed that is compatible with the development trend of the banking industry.Internet Finance and financial technology have been developing in an iterative manner,moving towards a new ecology of digital finance.With the platform development of Internet finance enterprises and the deep integration of technological innovations such as big data and artificial intelligence with traditional commercial banks,there have been vicious events such as Internet lending platforms running away from loans and joint-stock commercial banks running.Traditional banking business has been hit hard,profitability has declined,and nonperforming loans have continued to increase,The emerging financial form of "Technology + finance" has broken the stability and order of the existing financial market.The existing operation system of commercial banks can not adapt to the development trend of the digital economy.The rapid development of digital finance has brought about the conflict and coordination between the pursuit of banking efficiency and the prevention of banking systemic risk.It is urgent to study the impact of the development of digital Finance on the improvement of banking efficiency and the prevention of systemic risk.Based on the technical integration characteristics of commercial banks’ efficiency improvement,the bottom line thinking of systemic risk prevention and the development of digital transformation,this paper constructs an economic interpretation framework of the impact of digital Finance on commercial banks’ efficiency and systemic risk based on DEA-Malmquist model,and the measurement method of systemic risk The risk spillover theory and other economic ideas are incorporated into the interpretation framework,and the driving factors,mechanisms and Implementation Paths contained in the three aspects of the improvement of total factor productivity,systematic risk prevention and the impact of digital Finance on the operation of commercial banks in the process of digital transformation are studied.Using the "Data mining" research method,the paper empirically studies the impact of digital Finance on bank efficiency with the total factor productivity of commercial banks as the explained variable and the digital finance index as the core explanatory variable;use ΔCo Va R is the explained variable,digital finance is the intermediary variable,and the impact of digital Finance on bank systemic risk is empirically studied from the four dimensions of financial disintermediation,business competition and cooperation,risk bearing and loan aggregation;Theoretical analysis and empirical testing study the impact of total factor productivity on systemic risk of banks,and verify that the promotion of digital technology efficiency,digital technology progress and pure digital technology efficiency change on systemic risk hedges the inhibition of scale efficiency change of the banking industry,and ultimately increases systemic risk of banks.The state-owned holding banks have strong resistance to systemic risk and only transmit risk in a small range,which has a risk spillover effect.Other joint-stock banks have large-scale Risk Spillover and do not have strong resistance to Risk Spillover;Digital finance promotes banking systemic risk through financial disintermediation,and suppresses banking systemic risk through business competition,credit concentration and risk bearing.The promotion of financial disintermediation on systemic risk hedges the inhibition of banking competition,risk-taking and loan clustering,and ultimately increases the systemic risk of banks;Verified that the promotion of digital technology efficiency,digital technology progress and pure digital technology efficiency change on systemic risk hedged the inhibitory effect of changes in scale efficiency of the banking industry,and ultimately increased systemic risk of the bank.Four innovative points have emerged: first,the theoretical framework of dynamic impact of digital finance based on der is constructed,and it is proposed that building a digital financial technology evaluation system,increasing digital technology investment,improving digital financial laws and regulations,and strengthening the supervision of derivative digital financial products are the key factors for commercial banks to improve efficiency and reduce systemic risks,as well as the implementation path and system guarantee to promote the digital transformation and development of commercial banks.Second,it proposes how digital finance affects the balance sheet structure of commercial banks and promotes the production efficiency of commercial banks from the aspects of technological innovation,financial innovation,deep integration of technology and finance,and industry dominance.It verifies the existence of digital technology spillover effect,and finds that digital finance positively affects the total factor productivity of commercial banks.Third,it is studied that digital finance promotes the systemic risk of banks through financial disintermediation,but suppresses the systemic risk of banks through banking competition,risk bearing and loan aggregation channels.The promotion of financial disintermediation hedges the inhibition of banking competition,risk-taking and loan clustering,and ultimately increases the systemic risk of banks.Fourth,the improvement of total factor productivity has promoted the systematic risk of banks,which is heterogeneous,and plays a greater role in promoting the systematic risk of non-public banks.Total factor productivity promotes bank systemic risk through digital technology efficiency,digital technology progress and pure digital technology efficiency change,and suppresses bank systemic risk through scale efficiency change.The promotion of digital technology efficiency,digital technology progress and pure digital technology efficiency change on systemic risk hedges the inhibition of the change of scale efficiency of the banking industry.
Keywords/Search Tags:Commercial banks, Digital finance, Total factor productivity, Systemic risk, The theoretical framework of Der, Digital technology, risk spillover
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