{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,21]],"date-time":"2025-10-21T05:12:56Z","timestamp":1761023576648,"version":"build-2065373602"},"reference-count":52,"publisher":"MDPI AG","issue":"10","license":[{"start":{"date-parts":[[2025,10,18]],"date-time":"2025-10-18T00:00:00Z","timestamp":1760745600000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"DOI":"10.13039\/501100001809","name":"National Natural Science Foundation of China","doi-asserted-by":"crossref","award":["72201129","72073067"],"award-info":[{"award-number":["72201129","72073067"]}],"id":[{"id":"10.13039\/501100001809","id-type":"DOI","asserted-by":"crossref"}]},{"DOI":"10.13039\/100018975","name":"Jiangsu Office of Philosophy and Social Science","doi-asserted-by":"crossref","award":["2021SJA0047"],"award-info":[{"award-number":["2021SJA0047"]}],"id":[{"id":"10.13039\/100018975","id-type":"DOI","asserted-by":"crossref"}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Systems"],"abstract":"<jats:p>This study examines the peer effects of bank digital transformation facilitated by shareholder networks and explores the underlying mechanisms. A time-varying network is constructed based on common shareholder connections among banks, and a corresponding measure is developed to quantify peer effects in digital transformation. Using the Peking University digital transformation index together with ownership and financial data from CSMAR, an empirical analysis is performed on a panel of 114 Chinese commercial banks from 2010 to 2021 to evaluate these effects. Fixed-effects estimations indicate that bank digital transformation is significantly affected by peer effects transmitted through common shareholder connections, with a one-unit increase in peers\u2019 digitalization index associated with a 0.151-unit rise in the focal bank\u2019s index. These findings remain robust and economically meaningful across alternative specifications, including system GMM, IV\/2SLS designs, and different ownership thresholds. Further analyses indicate that the peer effects operate through mechanisms such as intensified competition, enhanced information sharing, and pooled resources. However, such peer influence also exacerbates disparities in digital progress across the industry, reflecting a Matthew Effect in which leading banks consolidate their advantages. Heterogeneity analysis reveals that the peer effects are more pronounced among banks with larger workforces, more diversified operations, and higher ownership concentration. The findings of this study provide insights into how financial institutions can leverage technological innovations through network-based channels, offering practical implications for promoting industry-wide transformation in the digital economy era.<\/jats:p>","DOI":"10.3390\/systems13100918","type":"journal-article","created":{"date-parts":[[2025,10,20]],"date-time":"2025-10-20T13:54:41Z","timestamp":1760968481000},"page":"918","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":0,"title":["Peer Effects of Bank Digital Transformation Through Shareholder Networks"],"prefix":"10.3390","volume":"13","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-1771-6553","authenticated-orcid":false,"given":"Liang","family":"He","sequence":"first","affiliation":[{"name":"College of Finance, Nanjing Agricultural University, Nanjing 210095, China"},{"name":"School of Economics and Management, Southeast University, Nanjing 211189, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Shengming","family":"Zhu","sequence":"additional","affiliation":[{"name":"College of Finance, Nanjing Agricultural University, Nanjing 210095, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mengmeng","family":"Zhang","sequence":"additional","affiliation":[{"name":"College of Finance, Nanjing Agricultural University, Nanjing 210095, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Xiaolin","family":"Dong","sequence":"additional","affiliation":[{"name":"College of Finance, Nanjing Agricultural University, Nanjing 210095, China"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"1968","published-online":{"date-parts":[[2025,10,18]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","first-page":"100833","DOI":"10.1016\/j.jfi.2019.100833","article-title":"Fintech and Banking: What Do We Know?","volume":"41","author":"Thakor","year":"2020","journal-title":"J. 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