Research On The Effect Of Fintech On The Total Factor Productivity Of Commercial Banks

The application of Fintech in the financial field brings opportunities and challenges to commercial banks.In order to study the impact of Fintech on the total factor productivity of commercial banks,this paper systematically combs the impact mechanism of Fintech on the total factor productivity of commercial banks based on the theory of Technology Spillover Effect.This paper also proposes that there may be heterogeneity in the technology spillover effect of Fintech on different types of commercial banks.In order to test the existence and heterogeneity of Technology Spillover Effect of Fintech,based on the annual report and mid report data of 54 domestic commercial banks in 2016-2019,this paper selects appropriate input variables and output variables,and uses the Malmquist index,TCP index(the index for technical changes)and TEC index(the index for change in efficiency)measured by DEA-Malmquist model as explained variables.The core explanatory variable is GFI(global fintech index),released by Zero One Finance·Zero One Think Tank,which can reflect both investment and social cognitive information.Then,this paper empirically tests the existence and heterogeneity with the methods of Pooling,FE and RE regression.The research draws the following conclusions:(1)Fintech has produced technology spillover effect to commercial banks,which has significantly promoted the technological progress of commercial banks.But Fintech has not shown a significant impact on the total factor productivity of commercial banks within the sample study range;(2)Rural commercial banks have made greater technological progress than other types of commercial banks under technology spillover effect of Fintech.There is no significant difference in the performance of large state-owned commercial banks,joint-stock commercial banks and urban commercial banks.