数字技术与经济金融学术午餐会（第21期）

摘要：

In a two-period model of payment and credit markets competition, we show that a bank's profits can decrease when it adopts new information technology. IT complements payment data in helping the bank to learn about consumers' credit quality, dubbed as the information effect of technology adoption. However, the information effect has to be traded off against a negative competition effect as consumers in the first period deliberately switch to purchase tech firms' payment services to induce fiercer second period credit market competition. Interestingly, when two fintech firms compete in the payment and the credit markets with the bank separately, the competition effect always dominates. However, the information effect can dominate when the bank faces a big tech firm who operates in both markets.

主讲人介绍：

李昭，中南财经政法大学金融学院副教授。主要研究方向为银行学理论和金融监管，成果发表于Management Science、Journal of Economic Dynamics and Control等期刊。他主持国家自然科学基金面上项目(在研)、青年项目(结项“优”)。李昭在武汉大学获得经济学、数学双学士学位，在武大大学、法国图卢兹经济学院获得金融学、经济学硕士，在西班牙庞贝法布拉大学获得金融学博士学位。