You Can't Have Your Cake and Eat It Too--The Impact of Fintech Policy on the Credit Structure Adjustment of Commercial Banks
Based on the panel data of A-share listed companies from 2005 to 2021,this paper adopts the DID method,takes the establishment of the national big data comprehensive experimental area as a quasi-natural experiment and examines the impact and internal mechanism of Fintech policies implemented after 2015 on relational loans,to explore how the Fintech policy of pursuing"steady growth"is restricted by the"risk prevention"factor when driving the credit structure adjustment of the banking industry.The results show that:First,the impact of Fintech policies pursuing"steady growth"on relational loans shows a short-term growth trend and a long-term decline trend,in which the"risk prevention"factor exacerbates the short-term in-crease of the ratio.Second,The impact of the pilot exists the homogeneity of ownership and the heterogeneity of regional and firm competitiveness.Third,government intervention,bank digital transformation,corporate financing costs and risk-taking play im-portant roles in the short-term improvement of relational loans.Continued easing of financing constraints lead to a long-term de-cline in the ratio.This paper puts forward policy references for the banking industry to better balance the relationship between"stable growth"and"risk prevention".
NETL
NSTL
万方数据
