Abstract Taking commercial banks and A-share listed companies in Shanghai and Shenzhen as research objects from 2010 to 2022, this paper studies the impact and mechanism of bank fintech on shadow banking of non-financial enterprises by establishing information links between banks and enterprises through enterprise-by-loan.The study shows that banking financial technology can inhibit shadow banking of non-financial companies. The mechanism examination indicates that, on one hand, bank fintech can expand the scale of bank credit, reduce corporate financing costs, alleviate corporate financing constraints and suppress precautionary motives. On the other hand, the application of fintech can enhance banks’ supervisory effectiveness over borrowing enterprises, mitigate corporate information asymmetry and improve the quality of corporate information disclosure, thereby inhibiting arbitrage motives. Further analysis indicates that, compared to credit chain-based shadow banking, the inhibitory effect of bank fintech on non-financial enterprises’ participation in credit intermediary-based shadow banking activities is more pronounced. The impact is more significant for non-state-owned enterprises, non-manufacturing industries and enterprises with weaker external supervision.This paper expands the research on the influencing factors of financial technology and shadow banking of non-financial enterprises, which has certain theoretical and practical significance for strengthening the efficiency of financial services to the real economy and promoting the high-quality development of my country’s real economy.
2024, Vol. 41 
