双重竞争约束下中国商业银行绩效变化研究

The Research on Performance Change of Chinese Commercial Banks under Dual Competition Constraint

笔者基于我国银行业面临的金融脱媒(来自市场竞争)与同业竞争并存的背景,从表内渠道和表外渠道两种传导机制出发,利用2007-2016年商业银行非平衡面板数据,研究双重竞争影响中国商业银行绩效的理论机理。研究发现,双重竞争通过表内渠道,体现出普惠金融的特点,提高了银行的绩效水平,而通过表外渠道,体现出影子银行的特点,降低了银行的绩效水平;两种传导机制存在一定的联系,即当表内渠道受限时,表外渠道作为表内渠道的"掩护",在"会计账户转移"机制下,表内渠道转变为表外渠道,整体来看,双重竞争有利于提高银行的绩效。此外,双重竞争对具有不同特征的银行产生异质性效应。

Based on the background of financial disintermediation and interbank competition,this paper studies the theoretical mechanism of the impact of competition on the performance of China s commercial banks in terms of two transmission mechanisms of on-balance sheet and off-balance sheet channels and using the data of non-equilibrium panel of commercial banks from 2007 to 2016.We found that dual competition improves banks performance by establishing the characteristics of inclusive finance of the on-balance sheet channel,and reduces banks performance by establishing the characteristics of shadow banking of the off-balance sheet channel.There is a certain nexus between the two transmission mechanisms,which is,when the on-balance sheet channel is limited,the on-balance sheet channel will be transformed into off-balance sheet channel through the“accounts transferring”mechanism,and the off-balance sheet channel will play the role of“covering”the on-balance channel.To summarize,dual competition constraint will improve the performance of banks.In addition,dual competition constraint has heterogeneity effects on banks with different characteristics.