A Study of Impact of Fintech on the Risk of Listed Financial Institutions
Fintech can significantly improve the efficiency of financial services,but it also brings more uncertainty and po-tential risks.This paper constructs a risk network of listed financial institutions based on the TENET network model,and ex-plores the impact of fintech on it from the two aspects of risk input and output intensity of institutions,and explores the impact mechanism of specific aspects of fintech on inter-institutional risk contagion.The research found that the risk input and output intensity between institutions have time-varying characteristics,which also shows that the risk network of financial institutions has time-varying characteristics.Fintech can curb the risk input between financial institutions,that is,the development of fin-tech can help institutions resist external risks.However,at the same time,the development of fintech also increases the risk spill-over between institutions.The widening development gap of C2B,distributed computing,fintech,and online lending be-tween institutions can reduce the risk contagion between institutions.On the other hand,the widening development gap of C2C,artificial intelligence,and online payments between institutions will increase the risk contagion between institutions.In addition,the difference in affiliated transactions between institutions will also increase the risk contagion between institutions.
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