银行金融科技、借贷距离与银行业竞争——基于信贷多元化的视角

Banking Fintech,Lending Distance and Banking Competition:From the Perspective of Credit Diversification

金融科技对银行业务模式有深远的影响,因而金融科技是银行在企业信贷市场竞争中破局的关键。利用2013—2021年银行金融科技专利数据、上市公司借款数据以及商业银行的地理信息,系统地评估了金融科技发展对真实银行业竞争的影响及其作用机制。研究发现,银行金融科技的发展加剧了银行业竞争,并拓宽了企业信贷的多元化渠道。机制分析表明,银行金融科技是通过扩大银企借贷距离的方式加剧银行业竞争的,且这一机制在金融资源匮乏的地区更加显著。异质性分析表明,银行金融科技对银行业竞争的促进作用在融资约束高、市场关注不足以及数字化转型领先的企业中表现更加明显,即银行金融科技有效提高了信贷资源的配置效率。进一步分析发现,不同类型的银行发展金融科技均有助于改善信贷市场的竞争环境。因此,应当重视金融科技赋能效应对银行业竞争格局的新影响,规范稳妥地推进银行金融科技的发展,同时要加强金融监管,防范无序竞争,持续助力企业高质量发展。

Fintech has produced far-reaching changes in the banking business model and has become the key for banks to break through the competition in the credit market.By making use of the data of banking fintech patents,the data of listed company borrowing,and the geographic information of commercial banks from 2013 to 2021,this paper systematically assesses the effect of fintech development on real banking competition and its mechanism.The findings show that banking fintech has significantly intensified the banking competition and expanded the diversified access for enterprises to get credit.The mechanism analysis shows that banking fintech has intensified the banking competition by expanding the lending distance between banks and enterprises,and this mechanism is more significant in areas with scarce financial resources,which helps to improve the fairness of financial services.The heterogeneity analysis shows that the positive effect of banking fintech on banking competition is more pronounced among firms with higher financing constraints,insufficient market attention,or leading digital transformation,which has effectively improved the allocation efficiency of credit resources.Further analysis reveals that the development of fintech can contribute to the improvement of the competitive environment of the credit market for different types of banks.Therefore,attention should be paid to the impact of the enabling effect of fintech on banking competition,and the development of banking fintech should be standardized and steadily promoted.At the same time,financial supervision should be strengthened to prevent disorderly competition,so as to continue to assist the high-quality development of enterprises.