商业银行数字化转型对服务实体经济效率的影响研究
Research on the Impact of Commercial Banks’ Digital Transformation on the Efficiency of Serving the Real Economy

文本从四个角度探讨商业银行服务实体经济的效率，基于北京大学数字金融研究中心课题组研究建立的“北京大学中国商业银行数字化转型指数”和国内42家上市商业银行2010~2021年的财务数据以及宏观经济数据，采用双向固定效应模型研究了商业银行数字化转型对服务实体经济效率的影响；考察了数字化水平影响的作用机制，即中介效应；并且基于不同性质的商业银行进行了异质性分析。本文研究结果表明：1) 商业银行数字化水平提升有利于提高生息资产贷款占比，将更多资金直接用于实体企业，这种影响可以通过增强风险控制能力、降低贷款损失准备来实现；分银行类型来看，这种影响对城商行显著。2) 城商行和农商行数字化水平提升可以降低其企业贷款的行业集中度，且对农商行作用更大；但是对于股份制银行来说，数字化水平提升反而提高了企业贷款的行业集中度。3) 股份制银行的数字化水平提升可以促使其增加信用贷款的占比。4) 商业银行数字化水平的提升反而提高了不良贷款率；分银行类型来看，这种影响在城商行显著。
The text explores the efficiency of commercial banks in serving the real economy from four perspectives, and selects four measurement indicators. Based on the “Peking University China Commercial Bank Digital Transformation Index” constructed by the research group of Digital Finance Research Center of Peking University, the financial data of 42 listed commercial banks in China from 2010 to 2021, and the macroeconomic data, this paper adopts the double fixed-effects model to regress the panel data and conduct the robustness test; The functioning mechanism of the impact of digitization level, i.e., the mediation effect, is examined; and the heterogeneity analysis is conducted based on commercial banks of different natures. The results of this paper show that: 1) the digitalization level of commercial banks is conducive to increasing the proportion of loans on interest-bearing assets, which means funds are directly used for real enterprises. This effect can be realized by enhancing the risk control ability and reducing the provision for loan losses. In terms of sub-bank types, this effect is significant for urban commercial banks. 2) The digitalization level of city commercial banks and agribusiness banks can reduce the industry concentration of their corporate loans, and the effect is greater for agribusiness banks. However, for joint-stock banks, the digitalization level increases the industry concentration of corporate loans instead. 3) The increase in digitization level of joint-stock banks can induce them to increase the share of credit loans. 4) The increase in the digitization level of commercial banks instead increases the ratio of non-performing loans. By bank type, this effect is significant in urban commercial banks.