摘要
为了深入探讨政策考核压力下大银行小微信贷资源配置是否合理,本文从金融科技赋能的新视角出发,分析了大银行小微信贷业务的经营目标与政策目标由矛盾冲突转为缓和相容的内在机理,并对金融科技的作用效果以及小微信贷业务快速增长的宏观效应进行了实证检验。结果发现:考虑金融科技作用前后,最优小微信贷规模偏差由负转正,说明在金融科技赋能下,大银行最优经营目标与政策目标之间由冲突变为相容。对金融科技作用机理的检验表明,创造效应、普惠效应、成本效应和风控效应均为重要的作用机制。从地区小微信贷增长的宏观作用来看,政策驱动带来的小微信贷规模增速加快,不仅有助于金融回归本源,而且扩大了金融服务边界,从而优化了地方金融资源配置。本文揭示出金融科技赋能大银行小微信贷业务发展的机理和效果,为解释信贷资源配置的合理性提供参考。
Large banks actively guide financial resources into small and micro enterprises to meet the requirements of relevant credit policies,but this causes concerns from all circles about the unreasonable allocation of financial resources.Traditional theories generally believe that large banks will face profound information asymmetry when operating small and micro businesses,so the excessive growth of small and micro credit scale will inevitably lead to high costs and low operating profits.However,unlike the traditional theoretical premise,the current development of fintech has significantly improved the information acquisition and identification capabilities of large banks,providing a more robust technical foundation for developing small and micro businesses.To deeply explore whether the allocation of small and micro credit resources of big banks is reasonable under the pressure of policy assessment,this paper constructs a theoretical framework based on the theory of information asymmetry and analyzes the internal mechanism of the result,that the business objectives and policy objectives of large banks'small and micro credit business change from conflict to compatibility in the context of fintech empowerment.Meanwhile,based on the micro bank data of the regional questionnaire,the paper uses the econometric method to test the role of fintech in reducing the conflict between the business objectives and policy objectives of large banks,and explores the macro impact of the development of small and micro credit businesses.The results show that the deviation of the optimal small and micro credit scale changes from negative to positive after considering fintech.This indicates that large banks'optimal business objectives and policy objectives have changed from an apparent conflict to compatibility under the empowerment of fintech.The test for the internal mechanism of the role played by fintech shows that the creation effect,the inclusive effect,the cost effect,and the risk control effect are all important intermediary mechanisms.From the perspective of the macro role of regional small and micro credit growth,the accelerated development of small and micro credit driven by policies not only helps finance return to its origin,but also expands the boundaries of financial services,thereby optimizing the allocation of local financial resources.The research of this paper reveals the mechanism and effect of fintech empowering the development of small and micro credit businesses of large banks,which provides a reference for explaining the rationality of credit resource allocation。
作者
郑录军
韩庆潇
王兆旭
Zheng Lujun;Han Qingxiao;Wang Zhaoxu(Jinan Branch,the People's Bank of China)
出处
《国际金融研究》
CSSCI
北大核心
2023年第3期50-60,共11页
Studies of International Finance
关键词
金融科技
政策目标
经营目标
小微企业
信贷资源配置
Financial Technology
Policy Objectives
Business Objectives
Small and Micro Enterprises
Credit Resource Allocation
