Study On The Mechanism Of Evolutionary Behavior Of Digital Financial Ecosystem

At present,all countries are accelerating the layout of digital economy to promote economic recovery.A series of problems,such as digital islands,digital gaps,digital security,digital barriers,digital redundancy,and so on,caused by the digital economy in the process of deeply changing the production function,and then profoundly affecting social life and the international pattern,make building a good digital ecosystem a development consensus.Among them,digital finance,as the first step to build the advantages of the digital economy,and also the lifeblood of the digital economy,has attracted high attention from academia and practice.Based on the ecological perspective,exploring the research of the relevant basic theories of the digital financial ecosystem is the key to building the industry self-discipline mechanism and strengthening the research of the relevant basic theories.Based on this,this study focuses on the evolution mechanism of the digital financial ecosystem,clarifies the system category,and explores the evolution path and laws of the system.First of all,this study introduces the theory needed to carry out the research from three aspects of ecosystem,evolutionary game and system dynamics,combs and reviews the relevant literature at home and abroad from two dimensions of digital finance related categories and impacts,and financial ecology,and puts forward research questions based on this,namely,the evolution mechanism of digital financial ecosystem,specifically including the category of digital financial ecosystem The evolution path and influencing factors of the system agent’s strategic behavior.Secondly,this study uses the qualitative research method of grounded theory to refine the concept of digital financial ecosystem,clarify the system characteristics and structure through the collection and analysis of interview data and secondary data.Thirdly,this study focuses on the important participants in the digital financial ecosystem,uses the evolutionary game theory to build a tripartite game model composed of financial institutions,consumers,and technology service companies,and carries out model solution and deduction.Then,based on the deduction results,the stability analysis of the evolution of the main body’s behavior strategy is carried out,so as to explore the evolution path and interaction of the main body’s behavior strategy in the digital financial ecosystem.In the second place,this study uses the system dynamics theory to simulate the tripartite game model.On the basis of verifying the evolution trend of the initial behavior strategies of the three groups,it further explores the impact of different factors on the choice of the main body’s behavior strategies,and further reveals the evolution mechanism of the digital financial ecosystem from the perspective of financial institutions,consumers and technology service companies.Finally,this study summarizes the full text,condenses the conclusions,puts forward management implications and future prospects.The research found that:(1)The digital financial ecosystem is composed of six major groups of supply,demand,scientific and technological services,supervision and management,outsourcing services and scenario provision,and five environmental elements of new digital infrastructure,human resources,social credit,financial development and economic development.Its behavior focuses on the capture,mutual benefit,support and interaction between subjects and the environment.(2)In the tripartite game scenario composed of financial institutions,consumers and technology service companies,there are four stable evolution results in the digital financial ecosystem.The corresponding system stability strategies are {negative transformation,traditional financial products,general technology},{negative transformation,traditional financial products,financial technology},{positive transformation,digital financial products,general technology},{positive transformation,digital financial products,financial technology}.(3)In the evolution of digital financial ecosystem,different subjects play games and influence each other.Among them,the interaction between financial institutions and consumers is much stronger than that of technology service companies,and the participation of technology service companies plays an important role in promoting the active transformation of financial institutions and consumers’ choice of digital financial product strategies.(4)Exogenous variables affect the evolution of the system towards a stable equilibrium state and have varying effects.The impact of traditional financial product returns on financial institutions and consumer behavior is the strongest and opposite in direction;The deepening of digital technology research and application shortens the time for financial institutions and technology service companies to actively transform and develop financial technology strategies;As reputation gains increase,the evolution of financial institutions towards active transformation strategies is complex and diverse;The diffusion intensity of technological innovation achievements has the most significant driving effect on the selection of financial technology development strategies by technology service companies.