Yan Youliang, Qiu Xinhao, Wang Xuefang
School of Accounting, Zhejiang Gongshang University, Hangzhou, China.
School of Finance, Zhejiang Gongshang University, Hangzhou, China.
Heliyon. 2024 Sep 5;10(17):e37468. doi: 10.1016/j.heliyon.2024.e37468. eCollection 2024 Sep 15.
How to govern non-financial enterprises engaged in shadow banking activities is of great practical significance. This study investigates whether and how corporate digitization affects shadow banking. Using a sample of Chinese listed companies for the period 2012-2022, we find that corporate digitization has a significant negative effect on shadow banking business. Mechanism tests show that corporate digitization is conducive to enhancing product core competencies, broadening market channels, and improving operational efficiency, thus inhibiting firms from engaging in shadow banking activities. Moreover, the negative impact of corporate digitization on corporate shadow banking is especially noticeable for non-state-owned companies and in areas where local governments have more stringent financial risk regulations. The findings contribute to enriching the literature on the determinants of corporate shadow banking business, and deepen our understanding of the economic consequences of corporate digitization.
如何治理从事影子银行活动的非金融企业具有重大现实意义。本研究考察了企业数字化是否以及如何影响影子银行。利用2012 - 2022年中国上市公司样本，我们发现企业数字化对影子银行业务有显著的负面影响。机制检验表明，企业数字化有利于提升产品核心竞争力、拓宽市场渠道以及提高运营效率，从而抑制企业从事影子银行活动。此外，企业数字化对企业影子银行的负面影响在非国有企业以及地方政府金融风险监管更为严格的地区尤为明显。这些发现有助于丰富关于企业影子银行业务决定因素的文献，并加深我们对企业数字化经济后果的理解。
