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金融科技如何影响商业银行的风险承担——基于多重中介效应的分析 被引量:13

How Does Fintech Affect Bank Risk Taking——Based on Multiple Mediator Model Analysis
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摘要 在科技已然成为数字经济时代主要驱动力的背景下,金融科技的发展与应用也助推了银行业的转型和变革,但与此同时带来的挑战和风险也不容小觑。本文旨在揭示金融科技如何影响商业银行的风险承担行为,具体而言从金融功能视角、基于“文本挖掘法”构建了新的金融科技发展水平指数,继而通过系统广义矩估计和多重中介效应模型比较全面地揭示了金融科技对我国商业银行风险承担的影响结果和作用渠道。研究结果表明:(1)金融科技的发展从总体抬升了商业银行的潜在风险承担水平;(2)金融科技引发的竞争效应和技术溢出效应均存在,但竞争效应占优;(3)进一步的机制分析表明金融科技主要通过银行的资产负债业务、经营冒险假说和风险机制三个渠道影响商业银行的风险承担,其总体解释力约为78.3%。本文的研究结论对于全面认识金融科技技术、银行业经营模式变革以及金融监管都有着重要的启示和实践价值。 As technology has become the main driver of the digital economy,the development and application of fintech has also contributed to the transformation and change of the banking industry,as the same time,the challenges and risks bringing by fintech cannot be neglected.This paper aims to reveal how fintech affects the risk-taking behavior of commercial banks,specifically by constructing a new fintech development index based on the“text mining method”from the perspective of financial functions,and then revealing a more comprehensive picture of the impact of fintech on the risk-taking of commercial banks in China through systematic generalised moment estimation and multiple mediating effect models.The results of the study show that:(1)Fintech has a significant impact on the risk-taking of commercial banks in China.The results of the study show that:(1)the development of fintech has raised the potential risk-taking level of commercial banks;(2)the competitive effect and technology spillover effect triggered by fintech exist;(3)further analysis of mechanisms show that fintech affects the risk-taking of commercial banks mainly through three channels:banks’asset and liability business,business risk hypothesis and risk mechanism,with an overall explanatory power of about 78.3%.These findings of this paper have important implications and practical value for a comprehensive understanding of fintech technology,which will change the business model of banking industry and context of financial regulation.
出处 《投资研究》 CSSCI 北大核心 2022年第8期19-32,共14页 Review of Investment Studies
基金 国家自然科学基金项目“系统性金融风险的形成机制与监测预警研究:基于内生性和过程观的视角”(项目编号:71871092) 宏观经济大数据挖掘与应用湖南省重点实验室 湖南省研究生创新项目“商业银行公司治理与系统性风险研究”(项目编号:QL20210121)资助支持
关键词 金融科技 商业银行 风险承担 系统广义矩估计 多重中介效应 Fintech Commercial bank Risk-taking SYSGMM Multiple mediator effect
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