The Impact of Financial Technology on Financing for Small and Micro Enterprises——Empirical Analysis Based on Listed Banks
This paper takes 42 listed banks in China from 2011 to 2020 as samples,manually collects banks'credit data of small and micro enterprises(SME),constructs a bank fintech index using patent data and information retrieval technology,and empirically explores the impact of fintech on SME financing and its mechanism.It is found that financial technology can significantly improve the financing of SMEs.Mechanism analysis reveals that financial technology promotes commercial banks to invest more credit funds in SMEs through channels such as cost reduction,risk control,and efficiency enhancement.Heterogeneity analysis reveals that for regions with large urban-rural income disparities and high levels of marketization,the role of financial technology in promoting financing for SMEs is more significant.The impact of financial technology is also more significant in urban commercial banks,rural commercial banks and banks with low degree of loan concentration.
NETL
NSTL
万方数据
