The Impact of Bank Digital Transformation on Corporate Debt Allocation Efficiency
This paper constructs a measure index of corporate debt allocation efficiency,and examines the impact of bank digital transformation on corporate debt allocation efficiency by using the information of listed companies'loans from banks between 2013 and 2021.The study finds that bank digital transformation has significantly improved corporate debt allocation efficiency,which is achieved by improving the ability of banks to obtain and analyze information and accelerat-ing the adjustment of corporate capital structure.Digital transformation has led banks to increase the amount and maturity of loans for companies with insufficient debt allocation,and to implement higher interest rates for companies with excessive debt allocation,thereby optimizing debt allocation.The effect of digital transformation on corporate debt allocation efficien-cy is more significant in local banks and state-owned companies.Bank digital transformation ultimately improves corporate productivity and promotes core technological innovation by optimizing debt allocation.
bank digital transformationcorporate debt allocationinformation asymmetrynew quality productive forces
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