基于900家村镇银行的非平衡面板数据，考察量化定位监管对村镇银行社会绩效和财务绩效的影响及其机制。研究发现：量化定位监管对村镇银行的金融服务广度和深度存在促进效应；量化定位监管对村镇银行的盈利性没有显著影响，但对其安全性和成长性具有抑制效应；量化定位监管通过“基层网点扩张”和“人员配置增加”双重机制提升村镇银行的社会绩效；“交易成本增加”是量化定位监管削弱村镇银行成长性的重要机制。金融科技发展能增强量化定位监管对社会绩效的影响，但是对盈利性具有负向调节作用。

Based on the unbalanced panel data of 900 village and town banks, the impact and mechanism of quantified positioning supervision on the social and financial performance of village and town banks have been examined. The research shows that quantified positioning supervision has a promoting effect on the breadth and depth of village and town banks’ financial services, no significant effect on their profitability, and a restraining effect on their safety and growth. Through “expansion of the base network” and “increase of staffing”, social performance of village and town banks has been promoted. “Increase of transaction cost” is an important mechanism for quantified positioning regulation to weaken the growth of rural and town banks. The development of financial technology could strengthen the impact of quantified positioning regulation on social performance but has a negative moderating effect on the profitability.

F832.33

国家自然科学基金面上项目（72173121）；国家留学基金委“国家建设高水平大学公派研究生项目”（202206350104）