科技金融反哺银行业的异质性研究——来自区域性银行的经验证据

Heterogeneity of technological finance nurturing banks——Empirical evidence from China's regional banks

本文基于Malmquist-Luenberger生产率指数测算了我国89家区域性银行2009-2015年全要素生产率的增长率。在此基础上,研究了各省科技金融对区域性银行全要素生产率的影响,并从技术溢出、人才溢出和经济溢出的角度进行了解释,我们发现:科技金融反哺银行存在门槛效应,只有高于门槛值的科技金融可以提升银行的全要素生产率,低于门槛值的科技金融并不能反哺银行;东部和中部地区的科技金融可以提升银行的全要素生产率,西部地区的科技金融尚未发挥反哺银行的作用;根据是否引入战略投资者,科技金融对银行全要素生产率的促进作用也会呈现异质性。进一步研究发现,具有决策层年轻化、垄断程度低、跨区域经营程度高、业务创新能力强、业务多元化程度高、成本控制能力强这几个特征的银行,更容易吸收科技金融的反哺作用,来提升全要素生产率。最后,基于以上结论提出了政策建议。

In this paper,we measures TFP of 89 China’s Regional Banks by Malmquist-Luenberger productivity index. Based on this,we explore the effects of technological finance on Banks’ TFP. The results show that： as a results of threshold effect,higher technological finance have a significant positive effect on Banks’ TFP,lower technological finance have a negative effect on Banks’ TFP.Technological finance have a significant positive effect on Banks’ TFP in East Central China,but a negative effect in Western Central China. Strategic investor also influence the effect from technological finance to Banks’ TFP. A bank is easier to enjoy the benefit from technological finance with the following characteristics：（ 1） Younger board member;（ 2） Less Monopolization;（ 3） Trans regional management;（ 4） Better innovation ability on business;（ 5） Better business diversification;（ 6） Better cost control capability. Suggestions are given according to the conclusions.