数字技术、金融监管与金融诈骗治理——来自法院裁判文书案件信息的证据

Digital Technology,Financial Regulation and Financial Fraud Governance——Evidence from the Case Information of Court Decisions

当前我国数字技术正处于快速发展阶段,但金融诈骗这一现象却屡禁不止,数字技术与金融监管都是金融诈骗治理过程中的重要因素。本文基于2011—2021年297个地级市115482个法院裁判文书案件信息,研究了数字技术对金融诈骗治理的影响以及金融监管的调节效应。研究发现:第一,数字技术发展对金融诈骗治理存在非线性影响。其中,数字技术对信用卡诈骗治理存在非线性影响,但对集资诈骗治理存在负向的线性影响。第二,数字技术通过银行竞争度和信息扩散度两种途径对金融诈骗治理影响显著。在数字技术较低的水平下,数字技术通过提高银行竞争度对金融诈骗治理起到抑制作用;在数字技术较高的水平下,数字技术通过提高信息扩散度对金融诈骗治理起到促进作用。第三,金融监管在金融诈骗治理中起到了正向调节作用,但金融监管的调节作用存在区域异质性。在东部地区的信用卡诈骗治理和集资诈骗治理中,金融监管的正向调节效应显著;在中部地区,只对信用卡诈骗治理起到正向调节作用;在西部地区全部类型的金融诈骗治理中,金融监管的调节效应都不显著。

Currently,digital technology is in a rapid development stage in China.However,financial fraud remains an ongoing issue.Both digital technology and financial regulation are crucial factors in addressing financial fraud.Based on the information of 115,482 court judgments in 297 prefecture-level cities from 2011 to 2021,this paper examines the impact of digital technology on financial fraud governance and the moderating effect of financial regulation.The research finds that:First,the development of digital technolo⁃gy has a nonlinear impact on financial fraud governance.Specifically,there is a nonlinear impact on credit card fraud governance,but there is a negative linear impact on fund-raising fraud governance.Second,digital technology has a significant impact on finan⁃cial fraud governance through two channels:bank competition and information diffusion.At a lower level of digital technology,digital technology has a inhibitory effect on financial fraud governance by improving bank competition;at a higher level of digital technolo⁃gy,digital technology has a promoting effect on financial fraud governance by improving information diffusion.Third,financial regula⁃tion plays a positive role in financial fraud governance,but there is regional heterogeneity in the moderating effect of financial regula⁃tion.In the governance of credit card fraud and fund-raising fraud in the eastern region,the positive moderating effect of financial reg⁃ulation is significant;in the governance of credit card fraud and fund-raising fraud in the eastern region,the positive moderating ef⁃fect of financial regulation is significant.In the central region,only credit card fraud governance has a positive regulatory effect;in the western region,all types of financial fraud governance,the regulatory effect of financial regulation is not significant.