Endogeneity analysis.

This paper aims to investigate the impact mechanisms of digital transformation in the banking sector under the rise of financial technology. Utilizing panel data from 116 commercial banks in China from 2011 to 2023, this empirical research employs regression analysis to explore how digital transformation in commercial banks can affect profitability performance. The findings reveal several key points: First, the implementation of digital transformation has not led to improvements in the profitability performance of most commercial banks; rather, it appears to reduce net interest margins and return on assets. Second, digital transformation primarily influences profitability performance through two bridging pathways—operational efficiency and non-performing loan ratio, with both playing a mediating role. Third, digital transformation and inclusive digital finance interact, affecting the profitability performance of banks, where the loan-to-deposit ratio plays a significant role. The heterogeneity of regional inclusive digital finance and banks’ loan-to-deposit ratios also influences the impact of corporate digital transformation on profitability performance. This research not only deepens the theoretical understanding of how digital transformation can help banks enhance their profitability performance but also provides valuable insights and recommendations for managers and operators in the banking sector during the digital transformation process.本研究旨在探究金融科技兴起背景下银行业数字化转型的作用机制。本实证研究基于2011-2023年中国116家商业银行的面板数据，运用回归分析方法，探究商业银行数字化转型对盈利能力绩效的影响路径。研究结果揭示了若干核心结论：其一，多数商业银行实施数字化转型并未改善其盈利能力绩效，反而会降低净息差与资产收益率；其二，数字化转型主要通过运营效率与不良贷款率两条中介路径影响盈利能力绩效，二者均发挥中介传导作用；其三，数字化转型与普惠数字金融存在交互效应，共同作用于银行盈利能力绩效，其中存贷比发挥显著调节作用；区域普惠数字金融发展水平与商业银行存贷比的异质性，同样会影响企业数字化转型对盈利能力绩效的作用效果。本研究不仅深化了对数字化转型助力银行提升盈利能力绩效的理论认知，更为银行业管理者与经营者在数字化转型进程中提供了极具价值的参考思路与实践建议。