Research On The Impact Of Fintech On The Systemic Risk Of Commercial Banks

Fintech has brought many changes to the business model and business system of financial institutions,at the same time,commercial Banks as an important financial institutions in our country,concerns the stability and security of the economy as a whole system,systemic risk,as an important factor which influence the stability of commercial Banks,more need to get more attention.This paper studies the influence of fintech on the systemic risk of commercial banks and the differences of different commercial banks,and provides suggestions and empirical support for the application of fintech by commercial banks and the fintech development strategies of different commercial banks.On the basis of reviewing relevant literature at home and abroad,this paper analyzes the influence mechanism of fintech on systemic risk of commercial banks through financial function theory,long tail theory and information asymmetry theory,and puts forward corresponding hypotheses.On this basis,through the Wind database,the CoVaR method is used to measure the systemic risk of commercial banks,the text mining method is used to construct the fintech index,the systematic GMM method is used for empirical research,and the robustness of the model is tested.Based on the empirical results,this paper draws the following conclusions :(1)in the initial stage of fintech application,the systemic risk of commercial banks will increase,but after long-term development,the impact will decrease;(2)The impact of fintech on the systemic risk of different commercial banks is different.Therefore,commercial banks should actively develop fintech under the background of risk prevention and control,while different types of commercial banks should customize fintech with their own characteristics according to their own operating conditions and future strategies.The innovation of this paper lies in the enrichment and improvement of the fintech index,and the theoretical and empirical research,and the conclusion that the impact of fintech on the systemic risk of banks presents an "inverted U" shaped relationship,enriching the existing research on the systemic risk of commercial banks.In addition,this paper constructs a mediating effect model to study the mechanism that the risk taking level of commercial banks plays in the impact of fintech on systemic risk.