【摘要】：隨著我國金融市場的發(fā)展和直接融資規(guī)模的不斷擴(kuò)大,商業(yè)銀行面臨著金融市場和非銀行金融機(jī)構(gòu)越來越多的挑戰(zhàn),大量的資金融通繞過商業(yè)銀行等存款類機(jī)構(gòu)直接進(jìn)行的金融脫媒現(xiàn)象日益顯現(xiàn)。那么,現(xiàn)階段我國的金融脫媒趨勢有沒有形成?若形成,金融脫媒趨勢具有哪些特征?金融脫媒如何對商業(yè)銀行經(jīng)營績效產(chǎn)生影響?現(xiàn)階段我國金融脫媒與商業(yè)銀行經(jīng)營績效存在怎樣的計量關(guān)系?這些都應(yīng)引起理論界和銀行實務(wù)界的重視。 本文首先基于金融中介理論及核心競爭力等理論對金融脫媒的產(chǎn)生動因及其對商業(yè)銀行經(jīng)營績效的作用機(jī)制進(jìn)行了比較系統(tǒng)的理論闡述；然后通過我國金融脫媒指標(biāo)體系的構(gòu)建與測算實證檢驗了我國資本市場建立以來的金融脫媒趨勢；并采用數(shù)據(jù)包絡(luò)分析(DEA)方法對金融脫媒趨勢下的我國商業(yè)銀行經(jīng)營績效水平進(jìn)行了測算；最后利用面板協(xié)整檢驗和面板回歸分析方法對金融脫媒與商業(yè)銀行經(jīng)營績效之間的關(guān)系進(jìn)行了實證研究。 研究發(fā)現(xiàn),1992-2009年間我國的金融脫媒形成并且趨勢日益明顯,非金融部門對金融部門和銀行部門的金融中介化比率均呈下降趨勢,但非金融部門資產(chǎn)方的金融脫媒程度高于負(fù)債方。金融脫媒與商業(yè)銀行績效關(guān)系的實證研究發(fā)現(xiàn),非金融部門資產(chǎn)方和負(fù)債方兩個方向上的金融脫媒均與我國商業(yè)銀行的經(jīng)營績效呈負(fù)相關(guān),即現(xiàn)階段我國金融脫媒趨勢的形成對商業(yè)銀行經(jīng)營績效產(chǎn)生了不利影響。但不同方向的金融脫媒對商業(yè)銀行經(jīng)營績效的影響程度有所不同,非金融部門資產(chǎn)方的金融脫媒對商業(yè)銀行經(jīng)營績效產(chǎn)生的負(fù)面影響要顯著高于非金融部門負(fù)債方的金融脫媒。因此,我國商業(yè)銀行應(yīng)高度重視金融脫媒對商業(yè)銀行經(jīng)營績效產(chǎn)生的不利影響,積極進(jìn)行業(yè)務(wù)結(jié)構(gòu)和盈利模式的調(diào)整,不斷加大金融產(chǎn)品和服務(wù)的創(chuàng)新力度,提高自身的核心競爭力和整體經(jīng)營管理水平。
[Abstract]:With the development of China's financial market and the expansion of direct financing scale, commercial banks are facing more and more challenges from financial markets and non-bank financial institutions. The phenomenon of financial disintermediation which bypasses the deposit institutions such as commercial banks is becoming more and more obvious. So, at this stage of our country's financial disintermediation trend has formed? If so, what are the characteristics of the financial disintermediation trend? How does financial disintermediation affect the performance of commercial banks? What is the metrological relationship between financial disintermediation and commercial banks' operating performance at this stage? All these should arouse the attention of the theorists and the banks. Firstly, based on the theory of financial intermediation and core competence, this paper systematically expounds the causes of financial disintermediation and the mechanism of its effect on the performance of commercial banks. Then through the construction and calculation of the financial disintermediation index system in China, the author tests the trend of financial disintermediation since the establishment of the capital market in China. The performance level of commercial banks in China under the trend of financial disintermediation is measured by using data envelopment analysis (DEA) method. Finally, the relationship between financial disintermediation and business performance of commercial banks is studied empirically by panel cointegration test and panel regression analysis. It is found that the financial disintermediation ratio of the non-financial sector to the financial sector and the banking sector is decreasing, but the degree of financial disintermediation of the non-financial sector assets is higher than that of the debtor side. The empirical study on the relationship between financial disintermediation and commercial bank performance shows that the financial disintermediation in both the non-financial sector asset side and the liability side is negatively related to the operating performance of commercial banks in China. That is, the formation of the financial disintermediation trend has a negative impact on the performance of commercial banks. However, the influence of financial disintermediation in different directions on commercial banks' operating performance is different. The negative impact of financial disintermediation on commercial banks' operating performance is significantly higher than that of non-financial sector debtors. Therefore, China's commercial banks should attach great importance to the adverse impact of financial disintermediation on the business performance of commercial banks, actively adjust the business structure and profit model, and constantly increase the innovation of financial products and services. Improve their core competitiveness and the overall level of management.
【學(xué)位授予單位】：安徽財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F832.33

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