统计研究

本文通过手动整理我国银行部门金融科技专利数据，探讨数字金融冲击背景下银行业科技创新对企业对外直接投资的支撑作用。结合“银行–企业”贷款关系研究发现，银行金融科技发展对我国企业对外直接投资具有一定促进作用。缓解企业资金约束主要通过优化银行授信企业结构、降低对外直接投资贷款成本、缓解直接投资融资期限错配和促进企业资本市场融资4种渠道，从而提高企业对外直接投资的概率及规模。进一步研究发现，底层技术类金融科技对企业直接投资的促进作用相较于应用类技术更为明显，且该促进效应主要表现在四大行和民营企业样本中。此外，银行金融科技促进对外直接投资具有提升企业海外经营收入和降低财务风险的正面经济效果。本研究有助于理解如何提升金融科技创新服务实体经济能力。

This paper manually compiles patent data on financial technology in the banking sector in China and explores the supporting role of technological innovation in the banking industry for outward foreign direct investment(OFDI) in the context of digital finance shocks. By examining the “bank-enterprise” lending relationship, the study finds that the development of financial technology in banks promotes Chinese enterprises' OFDI. It mainly alleviates the capital constraints of enterprises through four channels: optimizing the structure of bank-credit enterprises, reducing the cost of loans for outward direct investment, alleviating the mismatch between financing terms and investment duration, and promoting corporate financing in capital markets. These mechanisms help ease firms' funding constraints,thereby increasing both the likelihood and scale of their outward foreign direct investments. Further research shows that the promotion effect of underlying technical fintech is more obvious than that of applied technology, and the promotion effect is mainly manifested in the samples of the four major Chinese banks and private enterprises. What's more, the promotion of outward foreign direct investment by bank fintech has positive economic consequences of increasing the overseas operating income and reducing financial risks of enterprises. This study is of great significance for understanding how to enhance the ability of fintech innovation to serve the real economy.