我国互联网金融典型业务及其经济机理分析

发布时间：2018-09-17 19:39

【摘要】：互联网金融的出现,使传统金融中介受到了巨大冲击,“金融脱媒”的现象也随之产生。2013年6月,“余额宝”的上线,实现了支付宝与天弘基金的系统对接,用户在线上即可便捷的完成基金开户与购买。与此同时,银行方面也纷纷推出相应的理财产品以应对冲击,例如交通银行推出的“货币基金实时提现”业务和平安银行推出的“平安盈”服务等。从互联网金融产品与货币基金的系统对接导致银行存款的完全脱媒,商业银行正面临着资金成本提升与部分客户流失的严峻挑战。而关于互联网金融的鼓励与监管问题的相关争议也持续不断,主要是以马蔚华为代表的支持鼓励方和以杨凯生为代表的支持监管方的不同观点的激烈碰撞。本文首先在回顾互联网金融业务发展历程的基础上,对互联网金融兴起的根源以及影响进行剖析;其次,结合第三方支付、个人理财和P2P网贷三种典型的互联网金融业务,借鉴SWOT分析方法,从金融学角度对互联网金融兴起和发展的特征与机理进行经济分析,包含同业拆借利率、国债回购利率以及银行利润构成与货币基金历史平均收益水平等角度进行分析;最后,以阿里金融为该行业的典型案例,结合其发展历程和经营现状的总结,分析阿里金融内部业务之间的紧密联系并结合SWOT分析方法中的相关要点加以分析,从而得到对互联网金融产业发展的重要启示。本文的研究结论表明:互联网金融凭借其特定的环境机遇与自身独特的竞争优势,在满足了各方用户需求的同时也促进了行业的创新与变革,为自身在行业领域内赢得了一席之地。同时,也应该明确认识到自身存在的客观威胁与发展劣势,通过分析可以就市场各界对互联网金融的争议观点给出一个全面和科学的理论解释,并可以明确互联网金融的未来发展方向。通过典型案例的剖析,为互联网金融产业在大数据背景下的个人征信体系建设、去中心化基础设施的构建以及在搭建金融生态圈中互联网金融的定位及发展空间的构想得出了重要的启示。
[Abstract]:With the emergence of Internet finance, traditional financial intermediaries have been greatly impacted, and the phenomenon of "financial disintermediation" has also emerged. In June 2013, the launch of "Yu'e Bao" realized the system docking between Alipay and Tianhong Fund. Users online can easily complete the fund account and purchase. At the same time, banks have also launched the corresponding wealth management products to cope with the impact, such as Bank of Communications launched the "money fund real-time cash" business and Ping an Bank launched "Ping an surplus" services and so on. From the connection between Internet financial products and IMF system leading to the complete disintermediation of bank deposits, commercial banks are facing the severe challenge of raising the cost of capital and losing some customers. And the controversy about the encouragement and regulation of Internet finance is also continuing, mainly because of the fierce collision of different viewpoints between the supporting encouraging party represented by Ma Weihua and the supporting supervisor represented by Yang Kaisheng. On the basis of reviewing the development course of Internet financial business, this paper analyzes the origin and influence of Internet finance. Secondly, it combines three typical Internet financial services: third party payment, personal finance and P2P network loan. Using the SWOT analysis method for reference, this paper analyzes the characteristics and mechanism of the rise and development of Internet finance from the perspective of finance, including the interbank offered rate. The paper analyzes the interest rate of national debt repurchase, the composition of bank profits and the historical average income level of monetary fund. Finally, taking Ali Finance as a typical case of the industry, combining with its development process and business status quo summary, This paper analyzes the close relationship between the internal business of Ali Finance and the relevant key points in the SWOT analysis method, and obtains the important enlightenment to the development of the Internet financial industry. The conclusion of this paper shows that Internet finance, with its specific environmental opportunities and unique competitive advantages, not only meets the needs of users, but also promotes the innovation and reform of the industry. For itself in the field of industry to win a place. At the same time, we should also clearly recognize the objective threat and development disadvantage of our own, and we can give a comprehensive and scientific theoretical explanation of the controversial views of Internet finance from all walks of life in the market through the analysis. And can clarify the future direction of Internet finance. Through the analysis of typical cases, for the Internet financial industry under the background of big data personal credit system construction, The construction of decentralization infrastructure and the orientation and development space of Internet finance in the construction of financial ecological circle are important enlightenment.
【学位授予单位】：电子科技大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F724.6;F832.2

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