数字金融对商业银行信贷收益的影响研究
A Study of the Impact of Digital Finance on Commercial Banks’ Credit Earnings

数字金融的发展有助于商业银行有效配置信贷资源、优化信贷结构以增加收益，同时也推动了银行对实体经济的高质量发展的支持。本文基于2011年至2021年期间41家上市商业银行的财务数据，并结合北京大学发布的数字普惠金融指数，运用双向固定效应模型，探究了数字金融对商业银行信贷收益的影响及其作用机制。研究结果表明：(1) 数字金融的发展显著提升了商业银行的信贷收益水平；(2) 数字金融通过增强银行的信息甄别能力，对银行信贷收益产生了正向促进作用；(3) 与非国有及中部地区的商业银行相比，国有和非中部地区的商业银行在信贷收益方面更受益于数字金融的发展。
The development of digital finance helps commercial banks effectively allocate credit resources and optimize credit structure to increase earnings, and also promotes banks’ support for the high-quality development of the real economy. Based on the financial data of 41 listed commercial banks during the period from 2011 to 2021, and combined with the digital financial inclusion index released by Peking University, this paper explores the impact of digital finance on commercial banks’ credit returns and its mechanism of action by using a two-way fixed effect model. The results of the study show that: (1) the development of digital finance significantly enhances the level of commercial banks’ credit returns; (2) digital finance positively promotes banks’ credit returns by enhancing their information screening ability; and (3) state-owned and non-central region commercial banks benefit more from the development of digital finance in terms of credit returns compared with non-state-owned and central region commercial banks.