| In recent years,with the continuous development of digital finance,China’s traditional financial system has a great impact on the operational efficiency of city commercial banks.As a part of China’s commercial banking system,city commercial banks have a low level of technological development and digitalization.With the continuous expansion of digital finance,their operating efficiency has been greatly affected.Based on relevant theoretical analysis,this paper selects 40 urban commercial banks in China as the main samples,takes panel data from 2011 to 2020 as the research interval,and uses the random effect model to empirically study the impact of digital financial development on the operating efficiency of city commercial banks in China.First of all,based on the DEA-Malmquist index to measure method of evaluating the total factor productivity of city commercial banks,and the total factor productivity measure the operating efficiency of city commercial Banks.It is found that the operating efficiency of city commercial banks in China is declining as a whole.The Malmquist value of total factor productivity of 40 sample banks in 2011 is 1.055,and it is 0.963 in 2020.Horizontally,the Malmquist value of total factor productivity of commercial banks in different cities has little difference.Secondly,the Digital Inclusive Finance Index of Peking University is selected as the core explanatory variable to measure the development level of digital finance,while the asset scale of city commercial banks,deposit and loan ratio of city commercial banks and regional economic growth level are selected as control variables.The empirical results show that the development of digital finance reduces the operational efficiency of city commercial banks,and the operational efficiency of city commercial banks decreases by 0.046% when the total index of digital financial development increases by 1%,which is very significant.From the perspective of the sub-dimension of digital finance development,the coverage,depth of use and digitalization degree of digital finance development have reduced the operation efficiency of city commercial banks.Among them,the coverage breadth of digital finance development has the greatest impact.If the coverage breadth index of digital finance increases by 1%,the operating efficiency of city commercial banks will decrease by 0.058%,which is significant.The depth of the use of digital finance development is the second,and the depth index of the use of digital finance increases by 1%,and the operating efficiency of city commercial banks will decrease by0.039%,with strong significance.The degree of digitalization has the least influence on the operating efficiency of city commercial banks.When the digitalization degree index increases by 1%,the operating efficiency of city commercial banks decreases by 0.018%,and there is a certain significance.Therefore,it is suggested that city commercial banks choose their own path of digital transformation and should not blindly copy the digital transformation mode of large commercial banks.The comprehensive digital transformation often makes city commercial banks invest a lot in the early stage but can not be converted into profits,thus reducing their operating efficiency.In addition,with the development of digital finance,city commercial banks,which mainly focus on traditional deposit and loan business,have lost a lot of business,so they should accelerate the change of their business model and strengthen the upgrading and innovation of financial products. |
