Research On The Impact Of Digital Finance On The Operating Efficiency Of Commercial Bank

In the strategic process of Digital China,various industries have been involved in the digital transformation of their own business operations and management models,and the financial industry is no exception.In recent years,with the support of advanced information technology such as the Internet,many enterprises have entered the financial industry and developed financial services,causing commercial banks to lose their social status and profitability,and commercial banks have felt an unprecedented,sense of urgency and crisis brought about by digital transformation.Therefore,based on the realistic development of commercial banks and the good economic and financial environment in China,commercial banks should step up the pace of digital transformation,actively embrace digital finance,actively participate in the process of building a new digital financial landscape,grasp the initiative and achieve a new leap forward.This paper takes the impact of digital finance on the operational efficiency of commercial banks as its research content,and specifically conducts the following research.Firstly,this paper analyses the realistic background of the digital transformation of commercial banks from both domestic and foreign levels,proposes that digital finance may become a powerful grip for the digital transformation of commercial banks,and explains the research significance and methodology of this paper.In order to clarify the research ideas,this paper compares the current research of scholars from three aspects: digital finance,the operational efficiency of commercial banks and the impact of digital finance on the operational efficiency of commercial banks,and summarises the current status of scholars’ research in these three aspects,laying the foundation for this paper.Based on the existing research results and theories,this paper discusses the impact of digital finance on the operational efficiency of commercial banks from five aspects,including the long-tail theory,the theory of economies of scale and the catfish effect,and further elaborates on the specific mechanisms based on theoretical analysis.In terms of empirical evidence,this paper selects data of 19 domestic listed commercial banks from 2012 to 2020,selects three input variables and three output variables with reference to the mediation method,and measures the total factor productivity of commercial banks using the data envelopment analysis method to measure the operational efficiency of commercial banks,and uses this as the explanatory variable in the regression analysis of this paper.This paper uses the Digital Inclusive Finance Index published by the Digital Finance Research Centre of Peking University as the explanatory variable in the regression analysis,and employs a fixed-effects model to regress the data to quantitatively analyse the impact of digital finance on the operating efficiency of commercial banks.In order to further explore the mechanism of the impact of digital finance on the operating efficiency of commercial banks,this paper selects the proportion of non-interest income and revenue growth rate as the mediating variables and uses a stepwise regression mediating effect model to analyse the role played by the two aforementioned variables in the process of digital finance affecting the operating efficiency of commercial banks.In addition,this paper analyses the heterogeneity of the impact process from the perspectives of both commercial banks and digital finance.From the perspective of commercial banks,heterogeneity is analysed in terms of the nature and market power of commercial banks respectively,and from the perspective of digital finance,heterogeneity is analysed in terms of payment and credit operations respectively.Based on the above research,the following conclusions are finally drawn: digital finance can promote the improvement of commercial banks’ operational efficiency;in the process of digital finance affecting commercial banks’ operational efficiency,technology spillover plays a mediating role by increasing the proportion of non-interest income and revenue growth rate of commercial banks;the operational efficiency of large state-owned commercial banks is not significantly affected by digital finance,while joint-stock commercial banks and urban commercial banks are The positive impact of digital finance is more significant for joint-stock commercial banks and urban commercial banks;commercial banks with stronger market power are less susceptible to the impact of digital finance,while commercial banks with weaker market power are more significantly affected by digital finance.Both the payment and credit businesses of digital finance help to improve the operational efficiency of commercial banks.Finally,the paper combines the research findings and the real-life situation to put forward recommendations and measures.