本文選題：金融自由化 + 互聯(lián)網(wǎng)金融　； 參考：《四川外國語大學(xué)》2017年碩士論文

【摘要】：金融自由化是金融市場不斷完善的過程,也是金融市場改革的目標(biāo)。在金融自由化不斷推進(jìn)的過程中,作為中國金融支柱的銀行,也是金融改革的一部分,在競爭越來越充分,利率等指標(biāo)都由市場決定的情況下,商業(yè)銀行的業(yè)務(wù)重點(diǎn)、發(fā)展方向、盈利水平、經(jīng)營管理、市場地位等都會(huì)受到影響,進(jìn)而,商業(yè)銀行的風(fēng)險(xiǎn)承擔(dān)水平也會(huì)受到影響;互聯(lián)網(wǎng)金融誕生于我國金融自由化逐漸推進(jìn)的背景下,在經(jīng)歷了2014年井噴式的發(fā)展之后,逐漸走進(jìn)人們的生活,傳統(tǒng)金融機(jī)構(gòu)在面臨互聯(lián)網(wǎng)金融的激烈競爭時(shí),為了爭奪市場和利潤,紛紛調(diào)整自己的業(yè)務(wù)范圍和發(fā)展戰(zhàn)略,甚至有的銀行為了提升客戶體驗(yàn),進(jìn)行有效經(jīng)營管理和風(fēng)險(xiǎn)管理,也嘗試涉足互聯(lián)網(wǎng)金融;那么,在利率市場化基本完成的今天,以及日后隨著金融改革的進(jìn)一步深化、互聯(lián)網(wǎng)金融的進(jìn)一步發(fā)展,商業(yè)銀行的風(fēng)險(xiǎn)承擔(dān)水平會(huì)如何變化,政府如何把握金融改革的力度和進(jìn)度、如何對(duì)互聯(lián)網(wǎng)金融進(jìn)行有效監(jiān)管,銀行面對(duì)外部環(huán)境變化采取的發(fā)展戰(zhàn)略是值得我們關(guān)注的。本文通過豐富金融自由化和互聯(lián)網(wǎng)金融發(fā)展現(xiàn)狀的理論研究,定性分析金融自由化、互聯(lián)網(wǎng)金融對(duì)商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)的內(nèi)在影響機(jī)制,然后實(shí)證檢驗(yàn)三者之間的關(guān)系,并用中國工商銀行的案例加以驗(yàn)證,進(jìn)而得出金融自由化、互聯(lián)網(wǎng)金融對(duì)商業(yè)銀行的風(fēng)險(xiǎn)承擔(dān)水平的影響,從而提出政策建議。理論部分,本文首先界定了金融自由化、互聯(lián)網(wǎng)金融、商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)的定義及現(xiàn)狀,并根據(jù)各自的表現(xiàn)形式,分析其內(nèi)在影響機(jī)制;實(shí)證部分,利用2008-2015年16家銀行的面板數(shù)據(jù)定量分析金融自由化、互聯(lián)網(wǎng)金融和商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)三者之間的關(guān)系,根據(jù)廣義矩估計(jì)回歸結(jié)果和中國工商銀行的案例,分析金融自由化、互聯(lián)網(wǎng)金融對(duì)商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)水平影響的真實(shí)原因。實(shí)證結(jié)果顯示不良貸款率滯后項(xiàng)、金融自由化和商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)水平呈現(xiàn)正相關(guān),互聯(lián)網(wǎng)金融和商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)呈現(xiàn)負(fù)相關(guān),互聯(lián)網(wǎng)金融調(diào)節(jié)金融自由化對(duì)商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)水平通過顯著性檢驗(yàn)。即金融自由化的進(jìn)程中,由于競爭的激烈和特許權(quán)價(jià)值的喪失,則使商業(yè)銀行面臨更多競爭,為了爭奪利潤就會(huì)冒險(xiǎn)做出原本不會(huì)做的業(yè)務(wù),加上商業(yè)銀行市場地位受到威脅、國際金融市場風(fēng)險(xiǎn)對(duì)市場風(fēng)險(xiǎn)影響加大,商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)水平加重;互聯(lián)網(wǎng)金融本身,由于提高了商業(yè)銀行的工作效率、風(fēng)險(xiǎn)管理水平,降低管理費(fèi)用而增加了盈利水平,從而降低商業(yè)銀行風(fēng)險(xiǎn)承擔(dān);且隨著會(huì)互聯(lián)網(wǎng)金融的發(fā)展,金融自由化對(duì)商業(yè)銀行風(fēng)險(xiǎn)承擔(dān)水平的影響會(huì)減弱,由于互聯(lián)網(wǎng)金融的反復(fù)試錯(cuò),給金融改革的方向和力度帶來一定的先發(fā)經(jīng)驗(yàn)。最后提出金融自由化應(yīng)注意把握改革的次序,互聯(lián)網(wǎng)金融的發(fā)展應(yīng)該是“帶著腳鏈舞蹈”,商業(yè)銀行應(yīng)當(dāng)結(jié)合實(shí)際情況、提高服務(wù)水平等建議。
[Abstract]:Financial liberalization is not only the process of financial market improvement, but also the goal of financial market reform. In the process of continuously advancing financial liberalization, the banks, as the backbone of Chinese finance, are also part of the financial reform. When competition is becoming more and more adequate and interest rates and other indicators are determined by the market, the business priorities of commercial banks, The direction of development, profit level, management, market position and so on will be affected. Furthermore, the level of risk assumption of commercial banks will also be affected. Internet finance was born in the context of the gradual promotion of financial liberalization in China. After experiencing the blowout development in 2014, the traditional financial institutions gradually entered into people's lives. In the face of fierce competition from Internet finance, traditional financial institutions adjusted their business scope and development strategy one after another in order to compete for markets and profits. Even in order to enhance the customer experience and carry out effective management and risk management, some banks also try to dabble in Internet finance; so, with the basic completion of interest rate liberalization today and with the further deepening of financial reform, With the further development of Internet finance, how will the risk bearing level of commercial banks change, how will the government grasp the strength and progress of financial reform, how to effectively supervise Internet finance, The development strategy adopted by banks in the face of the change of external environment is worthy of our attention. By enriching the theoretical research of financial liberalization and Internet financial development, this paper qualitatively analyzes the internal influence mechanism of financial liberalization and Internet finance on commercial banks' risk-bearing, and then empirically tests the relationship between the three. The paper uses the case of Industrial and Commercial Bank of China to prove the influence of financial liberalization and Internet finance on the risk bearing level of commercial banks, and then puts forward some policy recommendations. In the theoretical part, this paper first defines the definition and present situation of financial liberalization, Internet finance, commercial bank risk taking, and analyzes its internal influence mechanism according to their manifestation. Using the panel data of 16 banks from 2008 to 2015 to quantitatively analyze the relationship among financial liberalization, Internet finance and commercial banks' risk-taking, and according to the regression results of generalized moment estimation and the case of Industrial and Commercial Bank of China (ICBC), this paper analyzes financial liberalization. The real reason of the influence of internet finance on the risk bearing level of commercial banks. The empirical results show that there is a positive correlation between financial liberalization and commercial banks' risk-taking level, and a negative correlation between Internet finance and commercial banks' risk-taking. Internet financial regulation financial liberalization to commercial banks risk-bearing level through the significance of the test. That is, in the process of financial liberalization, because of the intense competition and loss of franchise value, commercial banks will face more competition. In order to compete for profits, they will take risks to make business that they would not otherwise do, and the market position of commercial banks will be threatened. The impact of international financial market risks on market risks is increased, and the level of risk assumption of commercial banks is aggravated. Internet finance itself increases the level of profitability by improving the working efficiency of commercial banks, the level of risk management, and reducing management costs. With the development of Internet finance, the impact of financial liberalization on commercial banks' risk-taking level will be weakened, because of the repeated trial and error of Internet finance, To the direction and strength of financial reform to bring a certain first-hand experience. Finally, the author points out that financial liberalization should pay attention to the order of reform, that the development of Internet finance should be "dance with feet", and that commercial banks should improve their service level according to the actual situation.
【學(xué)位授予單位】：四川外國語大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F832.33

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