Can Digitalization of Commercial Banks Improve the Investment-financing Maturity Mismatch of Enterprises?
Based on data from 246 commercial banks and A-share listed companies in China from 2013 to 2022,this article explores whether the digitalization of commercial banks can reduce the in-vestment-financing maturity mismatch(IFMM)for enterprises.Research has found that the digital-ization of commercial banks alleviates the IFMM by adjusting the short-term loan amount of mis-matched enterprises and improving corporate governance.This effect is more pronounced in enter-prises with strong financing capabilities in the capital market,enterprises whit high financing con-straints,small and medium-sized enterprises,and manufacturing enterprises.The conclusion of the article still holds true after endogeneity treatment and robustness testing.Further analysis shows that commercial bank digitalization of strategy,management,and business can all have an impact on the IFMM of enterprises,but the effect of the first two dimensions is more significant.Exploring the micro mismatch correction function of digitalization of commercial banks not only helps to re-duce the risks caused by fund mismatch at the enterprise level,but also provides new evidence for further optimizing the interaction between banks and enterprises and exploring the significance of digitalization of commercial banks.
Digitalization of Commercial BanksInvestment-financing Maturity Mismatch(IFMM)Short-term LoanCorporate GovernanceInteraction between Banks and Enterprises
万方数据
维普
