与外部金融科技企业合作会影响中小银行风险承担吗?——来自城市商业银行的经验证据

Does Collaborating with External Fintech Firms Affect the Risk-taking of Small and Medium-sized Banks?Empirical Evidence from City Commercial Banks

与外部金融科技企业合作是中小银行数字化转型的重要途径,并可能影响其风险承担行为。本文选取2011-2019年中国88家城市商业银行数据,构建多期双重差分模型实证检验与外部金融科技企业合作对中小银行风险承担的影响。研究结果表明,与外部金融科技企业合作提高了中小银行事前风险承担意愿,降低了中小银行事后风险承担水平,且这种影响具有长期持续性。机制检验发现,与外部金融科技企业合作通过扩大中小银行信贷规模提高其事前风险承担,通过改善中小银行信贷质量降低其事后风险承担。异质性分析表明,与外部金融科技企业合作对中小银行事前风险承担的提高作用主要体现在小规模、低盈利银行,对中小银行事后风险承担的降低作用主要体现在大规模、高盈利银行。研究结论对于理解中小银行数字化转型的路径选择及其经济后果具有一定的启示价值。

Cooperation with outside Fintech firms is an important way for small and medium-sized banks to make digital transformation and may influence their risk-taking.Based on the data of 88 urban commercial banks in China from 2011 to 2019,this paper built a multi period difference-in-defferences model to empirically test the impact of cooperation with external Finchfirms on the risk taking of small and mediumsized banks.The results show that cooperation with external Fintech firms increases the ex-ante risk-taking willingness and reduces the ex-post risk-taking level of small and medium-sized banks,and the impact is long-lasting.The mechanism test finds that cooperation with external Fintech firms increases the ex-ante risk-taking of small and medium-sized banks by expanding their credit size and reduces their ex-post risktaking by improving their credit quality.Heterogeneity analysis shows that the enhancing effect of cooperation with external Fintech firms on the ex-ante risk-taking of small and medium-sized banks is mainly reflected in small,low-profit banks,and the reducing effect on the ex-post risk-taking is mainly reflected in large,high-profit banks.The findings are valuable for understanding the path options for the digital transformation of small and medium-sized banks and their economic consequences.