金融科技与绿色金融在银行业中的互动：地理分布与银行治理的关系

Fintech and Green Finance in Banking: The Interplay of Geographic Dispersion and Bank GovernanceZhaoyan Liua, Xiaoqing (Maggie) Fua, *a Faculty of Business Administration, University of Macau, Macau, China* Corresponding author. Email: maggiefu@um.edu.moThis preprint research paper has not been peer reviewed. Electronic copy available at: https://ssrn.com/abstract=4838389Preprint not peer reviewed1Fintech and Green Finance in Banking: The Interplay of Geographic Dispersion and Bank GovernanceAbstractBoth fintech and green finance are central themes in the ongoing international discourse on banking sector development, yet they are generally treated as separate in academic research. This study connects fintech and green finance by exploring the potential of fintech in facilitating banks’ engagement in green finance. We introduce a novel measure for assessing geographic dispersion of bank branches and investigate how the impact of fintech on green finance activities is related to geographic dispersion and its interplay with bank governance. Drawing upon a sample of all listed banks in China over the 2010-2022 period, we find that fintech negatively affect green lending participation of geographically more dispersed banks. However, when accompanied by effective bank governance, even highly dispersed banks can unlock the supporting effect of fintech on green lending. Our results are robust after employing alternative measures for fintech and green finance engagement, a subsample, and an instrumental variable approach. This study represents the pioneering attempt to link geographic dispersion and bank governance with banks’ dynamic capabilities. The findings hold important implications for banks aimed at implementing a green and responsible strategy: to leverage fintech-enabled green finance, banks particularly those with a wider geographical presence should further enhance their corporate governance practices to cultivate stronger dynamic capabilities that facilitate effective deployment of fintech.Keywords: Green finance, Banking, Fintech, Geographic dispersion, Corporate governanceJEL classification: G21, G30, G34, O33This preprint research paper has not been peer reviewed. Electronic copy available at: https://ssrn.com/abstract=4838389Preprint not peer reviewed21. IntroductionGreenhouse gas (GHG) emissions and the resulting climate change have repercussions for economic and financial stability (Chaudhry et al., 2020; Galaz et al., 2018). In this context, green finance has emerged with the aim of supporting a more sustainable and inclusive economy through guiding capital flows towards green industries (Yin et al., 2021). As an important player in the global financial system, the banking sector has attracted extensive attention regarding green finance engagement. Various initiatives providing operational guidelines for banks’ green finance practices have been launched globally.1 Along with these developments, the awareness of green finance in banking