Thisstudy examines the impact of bank fintech on corporate financial mismatch using data from listed enter-prises between 2013 and 2021.By analyzing commercial banks'fintech patent data and corporate loan data,we find that bank fintech significantly reduces financial mismatch among enterprises,particularly by lowering the costs of fund utiliza-tion for enterprises with financing disadvantages.Mechanism analysis reveals that bank fintech alleviates corporate finan-cial mismatch by reducing information asymmetry between banks and enterprises and improving bank risk control,thereby enhancing credit allocation efficiency and improving the corporate financing environment.Heterogeneity analysis further demonstrates that these effects are more prominent in non-state owned enterprises,small-scale enterprises,and those with high R&D intensity.
关键词
银行金融科技/金融错配/信息不对称/风险控制
Key words
bank fintech/financial mismatch/information asymmetry/risk control
维普
万方数据