中国商业银行金融中介功能转型绩效的实证研究

Empirical Study on Transition Efficiency of Financial Intermediary Function of Chinese Commercial Bank

本文采用基于混合面板数据模型分析方法,利用14家商业银行2001～2009年数据,分阶段分析了非利息业务对我国商业银行金融中介功能转型的绩效及其影响因素的作用机理。结果表明,非利息业务收益率与外资银行渗入度、市场份额、社会消费品零售总额和银行营业费用比率成正相关,绩效产生主要依赖于银行绩效的延续性。银行转型中也应增加对外开放程度,转变以往的"粗放型"增长方式。

When China access to WTO, commercial bank had been unprecedented challenged as a traditional financial intermediaries. These challenges have been brought by the entering of foreign banks, also by the changes of market environment. The development of Chinese non-bank financial intermediaries made structural changes of financial intermediaries, and weakened the bank＇s traditionally dominant position. These factors made Chinese commercial banks must engage in a transition of financial intermediary function of Chinese commercial bank to seek a new direction of development. In the context of global financial reform, the commercial banks have made carrying out non-interest business as a major business in order to maintain its position. It also represented the long-term sus- tainable development and the inevitable choice of seeking a new profit growth point. Non-interest banking business is focused on the performance of the operating efficiency of the bank＇s competitiveness and transformation condi- tions. We selected the four state-own banks and ten joint-own banks as the research objects, and used the application rate of non-interest income to measure the efficiency of Chinese banks＇ transition of financial intermediary function, and divided the time series in two sections 2001 -2006 and 2006 ~ 2009. We can research the influence of market share, foreign banks, the bank＇s management efficiency and market demand to the non-interest income of commer- cial banks. It was found that market share, operating expense ratio and the total retail sales of social consumer goods significantly affect the business of commercial banks＇ non-interest income, and the operating expenses ratio＇s impact was the most one. This shows that the increase of our commercial banks＇ non-interest income was mainly rely on labor-intensive investment. High operating costs will offset a large increase in the value of non-interest income, and non-interest business profitability improved slowly. Penetration of foreign banks also had positive effects on yield of non-interest business, but there was non-significant correlation in 2001 ~ 2006 and changed to significant in 2006 ~ 2009. This shows that foreign banks in China has begun to form a more substantial impact after our govern- ment freeing the limit of foreign bank＇s RMB business, moreover the influence of other factors on Chinese commer- cial banks are also getting deeper. From the analysis we conclude that the transition of financial intermediary function of Chinese commercial banks has been in its infancy. And non-interest business has developed relatively slowly, still being ＂extensive＂ growth, inefficient and lack of profitability. Our Chinese commercial banks should take the opportunity of foreign banks＇ coming to improve learning ability, and to learn foreign bank management experience. These banks must rapid change their old ideas, and take attention to risk and cost management and control, and improve efficiency and profitability, and actively introduce advanced technology and talents to enhance Performance of commercial banks. At the same time, Our Chinese commercial banks should take the advantage of customer base, and establish a ＂customer-centric＂ business philosophy. Starting from the demand, we must make an innovation of financial products and instruments and create a new profit growth point while continuing to charge the fee business as the main business. In short, when we transit the financial intermediary function of Chinese commercial bank, we should follow the strategy of sustainable development, cut cost, and improve efficiency by the ＂extensive＂ growing to ＂intensive＂. Our Chinese commercial banks must vigorously expand non-interest business, and enhance China＇s commercial banks＇ business performance.