金融科技对商业银行全要素生产率的影响及作用机制

The Impact and Mechanism of Fintech on the Total Factor Productivity of Commercial Banks

摘要:

金融科技蓬勃发展为提高我国商业银行全要素生产率提供了新思路，但金融科技对商业银行全要素生产率的具体影响及作用机制尚未明晰，为此，基于我国58家商业银行2012－2021年的面板数据，借助前沿分析法，通过固定效应模型和中介效应模型实证分析金融科技对我国商业银行全要素生产率的影响及其机制。结果发现：（1）金融科技正向作用于商业银行全要素生产率；（2）商业银行经营管理水平、人力资本结构和银行创新能力在金融科技正向作用于商业银行全要素生产率的过程中具有显著的中介作用，且其中介作用依此由大到小；（3）金融科技对不同产权结构商业银行的全要素生产率有不同程度改善，且对上市商业银行、分支机构较多的商业银行的全要素生产率改善程度更大。因此，优化金融科技发展环境、培养金融科技人才、加快商业银行数字化转型进程对商业银行核心竞争力的提高具有重要意义。

Abstract:

The booming development of financial technology(Fintech) has provided new ideas for improving the total factor productivity(TFP) of China's commercial banks. However, the specific impact and mechanism of Fintech on the TFP of commercial banks are not yet clear. Therefore, based on panel data from 58 commercial banks in China between 2012 and 2021, this study employs frontier analysis, fixed effects models, and mediation effects models to empirically analyze the influence of Fintech on the TFP of commercial banks in China. The results showed that: (1) fintech has a positive effect on the TFP of commercial banks; (2) Fintech can drive up the TFP of commercial banks by influencing the operational management status, human capital structure, and innovation capability of commercial banks, and their mediating effect decreases accordingly; (3) Fintech has improved the TFP of commercial banks with different property rights structures to varying degrees, and has a greater impact on listed commercial banks and commercial banks with more branches. Therefore, optimizing the development environment of fintech, fostering fintech talents, and accelerating the digital transformation process of commercial banks are of utmost importance in enhancing the core competitiveness of commercial banks.