Table 4 Results of Internet finance’s dynamic impact on commercial banks’ risk taking

Variable

Model (1)

Model (2)

Model (3)

Model (4)

Model (5)

Model (6)

L1.RISK

0.2164***

0.2101***

0.7195***

0.8478***

0.5135***

0.4362***

(0.0025)

(0.0106)

(0.0106)

(0.0099)

(0.0200)

(0.0195)

L2.RISK

0.1047***

0.0939***

0.1654***

0.1692***

0.0742***

0.0557***

(0.0036)

(0.0049)

(0.0022)

(0.0033)

(0.0134)

(0.0076)

IF

−0.2223***

−30.1231***

−0.0035***

−0.0366***

−0.0850***

−7.3493**

(0.0185)

(2.3049)

(0.0007)

(0.0040)

(0.0164)

(3.1677)

IF ²

0.1569***

32.8704***

0.0031***

0.0513***

0.0255*

7.9062**

(0.0136)

(2.4995)

(0.0007)

(0.0059)

(0.0146)

(3.4574)

M2

78.8531***

0.1627***

18.8744**

(5.9788)

(0.0176)

(8.3045)

GDP

69.1355***

0.1392***

16.2992**

(5.2319)

(0.0180)

(7.2208)

IRL

1.3581***

0.0060**

0.3046***

(0.1395)

(0.0021)

(0.0186)

CR4

−0.2378***

0.0022***

−0.0892***

(0.0248)

(0.0004)

(0.0278)

FORE

−28.3608***

−0.0290***

−7.2150**

(2.2229)

(0.0033)

(2.9662)

LI

−0.0427***

−0.0131***

−0.2629***

(0.0147)

(0.0016)

(0.0290)

Individual fixed effect

Control

Control

Control

Control

Control

Control

Time fixed effect

Control

Control

Control

Control

Control

Control

AR2 test

−0.7297

−1.0136

−0.9811

−0.6236

0.1376

−0.8907

(0.4656)

(0.3110)

(0.3266)

(0.5329)

(0.8906)

(0.3731)

Sargan test

27.8502

27.2150

36.3178

26.7258

31.2279

32.5433

(0.3659)

(0.3981)

(0.1906)

(0.5332)

(0.2199)

(0.1758)