Your next bank is not necessarily a bank: FinTech expansion and bank branch closures

Yuan, Kaibin; Li, Wanli; Zhang, Weijun

doi:10.1016/j.econlet.2022.110948

Cited by 11 publications

(4 citation statements)

References 7 publications

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“…The number of insurance company headquarters ( Number ). The number of insurance company headquarters can also have a significant impact on the development of the insurance industry [ 71 ]. This research measures this variable using the total number of insurance company headquarters in each province.…”

Section: Methodsmentioning

confidence: 99%

Index construction and application of digital transformation in the insurance industry: Evidence from China

Liu,

Yang,

Zheng

2024

PLoS ONE

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In the context of digitization, the insurance industry’s value chain is undergoing significant shifts. However, the existing research on its comprehension and measurement remains relatively limited. This study constructs an index system for digital transformation in the insurance industry (DTII) on three components: digital infrastructure, digital platform, and digital applications. Utilizing data from 31 provinces in China, this study employs the entropy weight method, analytic hierarchy process method and minimum relative entropy method to measure the weights of indicators, empirically applying this index system. The results show that DTII in China experiences rapid advancement with an average annual growth rate of 20.46% from 2014 to 2020 and there exists strong regional convergence. In addition, the spatial agglomeration and spatial effects of DTII are mainly concentrated in the life insurance industry and the eastern region. This study provides an index system and empirical evidence for evaluating the DTII, providing policy insights for exploring the sustainable development path of the insurance industry in the digital era.

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Section: Methodsmentioning

confidence: 99%

Index construction and application of digital transformation in the insurance industry: Evidence from China

Liu,

Yang,

Zheng

2024

PLoS ONE

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“…The aforementioned phenomenon leads to a reduction in the disparity of information between individuals seeking loans and those providing them, resulting in a decrease in the expenses associated with evaluating creditworthiness and the potential hazards associated with lending (Livshits et al, 2016;Sutherland, 2018;Goldfarb and Tucker, 2019). Concurrently, the emergence of financial technology (fintech) within the context of digitalization has had a significant influence on the loan operations of conventional banks, hence augmenting the level of competition among banks (Ding et al, 2022;Yuan et al, 2023), partially mitigating the financial limitations encountered by firms (Zhang et al, 2019;Guo et al, 2023). The influence of limitations on funding availability on the allocation of financial assets by corporations exhibits variability in accordance with diverse theoretical frameworks.…”

Section: Theoretical Analysis and Hypothesis Developmentmentioning

confidence: 99%

Has the development of the digital economy increased corporate financial asset holdings? --A quasi-natural experiment based on the "Broadband China" policy

Huang,

2024

JES

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<p class="MsoNormal" style="margin-top: 12pt; text-align: justify;"><span lang="EN-US" style="font-family: 'times new roman', times, serif; font-size: 14pt;">A differences-in-differences (DID) model and financial data from Chinese listed firms from 2011 to 2019 are used to empirically investigate the effects of the digital economy on corporate financial asset holdings using the "Broadband China" policy as a quasi-natural experiment. After robustness testing and heterogeneity effects are disposed of, the digital economy dramatically boosts corporate financial asset holdings. According to the channel analysis, the digital economy can reduce corporate financing constraints and boost corporate financial asset holdings, notably based on speculative demand. Heterogeneity analysis shows that the digital economy has a greater impact on corporate financial asset holdings for firms with higher market competition, small-scale firms with a short-listed age, and firms in the western region. This paper provides policy guidance for enterprises returning to the real economy.</span></p>

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“…The mismatch between the quantity and quality of financial services and the effective demand for financial is one of the key reasons why digital finance has been able to develop rapidly in China. Digital finance has upgraded and transformed traditional finance with the help of emerging digital technologies such as big data, cloud computing, and blockchain, and to a certain extent, it has exerted the "inclusive effect" of incremental supplementation [ 36 , 54 ]. Therefore, in regions where traditional finance is relatively weak, digital finance may play a greater role in facilitating breakthrough innovation for enterprises.…”

Section: Further Analysismentioning

confidence: 99%

Digital finance and corporate breakthrough innovation: Evidence from China

Shi

2024

PLoS ONE

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This paper empirically investigates the impact of digital finance on the breakthrough innovation of enterprises with a sample of A-share listed companies in Shanghai and Shenzhen from 2011 to 2022. It is found that digital finance can promote corporate breakthrough innovation, and presents certain structural heterogeneity characteristics. The mechanism test shows that digital finance has the dual attributes of a financing platform and a social platform, which can promote breakthrough innovation by alleviating corporate financing constraints and expanding corporate social networks. Heterogeneity analysis reveals that the role of digital finance in promoting breakthrough innovation is characterized by regional heterogeneity, with digital finance playing a greater role in promoting breakthrough innovation in provinces with a low level of development of the banking sector, provinces with a high level of development of the capital market sector, and the central region. In addition, the degree of firms’ external financing dependence and the degree of product market competition can strengthen the positive effect of digital finance on firms’ breakthrough innovation. This paper enriches the related research on the impact of digital finance on enterprise innovation, and provides theoretical basis and policy insights on how digital finance can better assist the innovation-driven development strategy.

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Your next bank is not necessarily a bank: FinTech expansion and bank branch closures

Cited by 11 publications

References 7 publications

Index construction and application of digital transformation in the insurance industry: Evidence from China

Index construction and application of digital transformation in the insurance industry: Evidence from China

Has the development of the digital economy increased corporate financial asset holdings? --A quasi-natural experiment based on the "Broadband China" policy

Digital finance and corporate breakthrough innovation: Evidence from China

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