一、主題： The Real Impact of FinTech: Evidence from Mobile Payment Technology

二、主講人：錢文瀾
博士畢業于美國加州大學伯克利分校，現為新加坡國立大學商學院金融系的終身副教授以及房地産研究院的副主任。同時，錢文瀾教授也是國際知名期刊Real Estate Economics的主編以及Financial Management的副主編，并擔任美國房地産與城市經濟協會(American Real Estate and Urban Economics Association)的理事。她的研究領域為家庭金融、金融科技、房地産金融以及金融中介等。她在American Economic Review, Journal of Financial Economics, Review of Financial Studies, Review of Economics and Statistics, American Economic Journal: Economic Policy, Management Science, Real Estate Economics, Journal of Financial and Quantitative Analysis以及Review of Finance等國際頂級期刊發表論文數十篇。曾多次獲得國際頂級會議的最佳論文獎并數次獲得過專項研究經費。 

三、時間：2020年12月15日星期二，上午10:00-11:30
四、地點：騰訊會議【450 400 554】
五、主持人：郭俊傑，金融學系講師
六、摘要

We utilize the introduction of a mobile payment technology by the largest bank in Singapore in 2017 to study how mobile payment technology reshapes economic activities and stimulates business creation. After the introduction, business-to-consumer industries witnessed a higher growth rate of business creation by 8.9% per month relative to business-to-business industries, with the effect driven by small firms and more pronounced among industries with a higher cash handling cost. Underlying this pattern is consumers’ strong adoption of mobile payment and reduction in ATM cash withdrawals in the post-shock period. The reduced transaction cost also increases consumers’ spending capacity, which justifies the business growth. Interestingly, part of the increased consumer demand shows up as credit card spending. The pattern of changes is consistent with the bank’s response to the technological change: it reduces ATM machines and allows more credit card opening and higher credit limit. We develop a model that captures the interaction of the consumers, merchants, and banks to rationalize the responses and extend the empirical evidence to understand the key structural parameters that drive the effects of mobile payment technology.