How does digital transformation reshape the operating performance of listed banks

As the core driving force of modern banking development, digital transformation is reshaping the business model and performance of traditional commercial banks. However, how digital transformation affects the operational performance of banks through technological innovation has not been systematically studied. Taking 45 listed commercial banks in China from 2013 to 2023 as research samples, this study constructs a panel data model to explore the impact of digital transformation on banks' return on equity (ROE), and takes technological innovation as the analysis perspective. In this study, the digital transformation index (DTI) is introduced as the core variable, and the control variables include macroeconomic indicators (GDP growth rate) and financial structure indicators (asset-liability ratio, capital adequacy ratio, non-performing loan ratio). The empirical results show that digital transformation has a significant positive impact on the operating performance of banks, and technological innovation plays a synergistic role in this process. In addition, the macroeconomic environment and the internal financial structure of banks have an important impact on the effect of digital transformation, but the degree of impact is different.