金融脱媒对我国商业银行稳健性的影响

发布时间：2018-02-03 17:12

本文关键词： 商业银行金融脱媒稳健性　出处：《山东大学》2014年硕士论文　论文类型：学位论文

【摘要】：随着国际国内经济形势的发展和金融改革的不断推进,我国出现了资金绕开银行等金融中介而在其体外运行、直接融资占融资总量的比重逐渐上升的现象。资本市场(尤其是证券市场)融资能力迅速增长,削弱了银行等存款机构吸收存款的能力；同时,直接融资市场的兴起给了企业更多获得资金的渠道,传统意义上的银行媒介作用被弱化。一般地,我们称这种现象为金融脱媒。改革开放以来,我国经济快速增长,国民财富不断增加,金融体制改革不断深化,各类金融市场发展迅速,金融脱媒现象已经在我国显现,且有逐渐加深的趋势。在金融市场化进程中,金融脱媒现象都必然会是商业银行发展过程中需要面对的一个问题。金融脱媒即更多的资金在银行体系外运行,银行的融资中介职能被大大削弱,传统的利差收入减少,资金需求者开始更多的通过股票、债券等直接融资渠道获得资金,居民储蓄率下降,这些都使商业银行面临着来自体系外和行业间巨大的竞争压力。作为主要的间接融资渠道,商业银行的稳定健康的发展对整个金融业的发展有着举足轻重的影响。鉴于我国国情和经济环境的特殊性,金融脱媒表现出非对称性的特征。国内外学者从不同的角度对金融脱媒对商业银行稳健性的影响作了较为深入的分析,多数学者认为金融脱媒对商业银行稳健性有利有弊。金融脱媒致使银行丧失了很多传统的利差收入来源,增大了银行流动性风险,储蓄存款比重下降,资金成本提高削弱了商业银行的御险能力。然而,金融脱媒对我国商业银行在开拓业务上提出了新的挑战,商业银行可以通过改变经营策略,开拓新的利润增长点,摆脱对传统息差收入的依赖。基于以上研究背景和意义,本文运用规范研究与实证研究相结合的研究方法,将金融脱媒对我国商业银行稳健性的影响作为分析对象,在引入商业银行稳健性指数,具体测算出金融脱媒程度和脱媒校正效应的基础上,通过构建面板数据的随机效应回归模型,实证检验金融脱媒对我国商业银行稳健性影响的具体情况和现实意义,为我国商业银行更健康的发展提供一定的参考。
[Abstract]:With the development of international and domestic economic situation and the continuous promotion of financial reform, funds have been operating in our country in vitro, bypassing banks and other financial intermediaries. The capital market (especially the securities market) has a rapid growth in its financing capacity, which weakens the ability of deposit-taking institutions such as banks to absorb deposits. At the same time, the rise of direct financing market gives enterprises more access to funds, and the traditional role of bank media is weakened. Generally speaking, we call this phenomenon financial disintermediation. Since the reform and opening up, China's rapid economic growth, increasing national wealth, deepening the financial system reform, the rapid development of various financial markets, the phenomenon of financial disintermediation has emerged in China. In the process of financial marketization, the phenomenon of financial disintermediation is bound to be a problem that commercial banks have to face in the process of development. Financial disintermediation means that more funds run outside the banking system. The bank's financing intermediary function is greatly weakened, the traditional spread income decreases, the capital demanders begin to obtain funds through the stock, the bond and so on direct financing channel more, the resident savings rate drops. All these make commercial banks face huge competition pressure from outside system and industry. As the main indirect financing channel, the stable and healthy development of commercial banks plays an important role in the development of the whole financial industry. In view of the particularity of our country's national conditions and economic environment. Financial disintermediation shows asymmetric characteristics. Scholars at home and abroad have made a more in-depth analysis of the impact of financial disintermediation on the stability of commercial banks from different angles. Most scholars believe that financial disintermediation has both advantages and disadvantages on the stability of commercial banks. Financial disintermediation causes banks to lose many traditional sources of interest income, increase the liquidity risk of banks, and reduce the proportion of savings deposits. The increase of capital cost weakens the ability of commercial banks to take risks. However, financial disintermediation poses a new challenge to Chinese commercial banks in developing their business, and commercial banks can change their business strategies. Open up new profit growth points and get rid of the dependence on traditional interest income. Based on the above research background and significance, this paper uses normative and empirical research methods to analyze the impact of financial disintermediation on the robustness of commercial banks in China. On the basis of introducing the robustness index of commercial banks and calculating the financial disintermediation degree and disintermediation correction effect, a stochastic effect regression model of panel data is constructed. In order to provide some reference for the healthy development of commercial banks in our country, the concrete situation and practical significance of the influence of financial disintermediation on the stability of commercial banks in China are tested empirically.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.33;F832.2

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