Research On The Impact Of Digital Finance On The Total Factor Productivity Of My Country's Commercial Bank

At present,China’s digital finance is in a state of rapid development,in April 2021,the "White Paper on the Development of China’s Digital Economy" stated that the total scale of China’s digital economy is in a state of steady growth,from 9.49 trillion yuan in 2011 to 39.2trillion yuan in 2020,and the total scale of the digital economy accounts for more than one-third of GDP.When the banking industry faces the impact of digital technology,its business and business model have been affected to a certain extent,and there are also some opportunities,so the digital transformation of commercial banks has become a trend.This paper focuses on whether digital finance will have an impact on the total factor productivity of commercial banks,and takes 134 commercial banks as the research sample(mainly including 6 large state-owned commercial banks,12 joint-stock commercial banks,and 115 commercial banks),and the time period is selected as 2011-2021.It is found that digital finance has a significant role in promoting the improvement of total factor productivity of commercial banks.In order to further put forward corresponding suggestions for various types of commercial banks,this paper tests the heterogeneity of the research samples,and from the perspective of financial institutions,digital finance has a significant role in promoting the total factor productivity of joint-stock commercial banks,but does not have a significant role in promoting urban commercial banks,but has a certain lag in promoting the role of large state-owned commercial banks.From the perspective of asset scale,because commercial banks with large asset scale are at the middle and upstream level of the bank as a whole,and the capital scale,team talent resources,and management system are at the leading level,when integrating digital technology,they have a higher willingness to use digital technology,have more sufficient funds to support the upfront cost of digital technology,have a more complete system and use digital technology more efficiently,and the overall performance is that digital finance has a significant improvement effect on their total factor productivity.The opposite is true for commercial banks with smaller assets;From the perspective of listing or not,due to the high requirements for capital and team in China’s listing conditions,listed commercial banks have more complete capital reserves,better teams and more complete management systems,so digital finance can help them improve their efficiency rapidly;From the perspective of the independence of the board of directors of commercial banks,due to the lack of supervision of independent directors,non-independent commercial banks will have problems such as excessive innovation,customer disintermediation,channel disintermediation and other problems when integrating into digital finance,and their total factor productivity has shown a downward trend,while in commercial banks with independent directors,digital finance has a promoting effect on improving their efficiency.In addition,this paper further studies the influence channels,and finds that digital finance can promote the efficiency of commercial banks by improving technical efficiency,management efficiency and resource allocation efficiency.With the rapid development of digital finance,commercial banks should actively respond to response policies,combine their own advantages and characteristics,quickly move towards digital transformation,and use its development dividends to promote their own efficiency.The government should also formulate relevant laws and policies to encourage commercial banks to break through traditional restrictions and actively move towards digital transformation,while also paying attention to supervision and maintaining a good market environment.