The Research On Synergy Mechanism Of Financial Business Innovation And Its Measurement Of Commercial Banks

Finance is the core of modern economy, and innovation is the vitality of the development of an enterprise. At present, in the context of financial globalization, the competition in financial sector is becoming increasingly fierce. So, how to organize financial innovation activities orderly, is vital for the survival and development of all commercial banks, and also for the effective allocation of financial resources. Financial business innovation is a complicated systematic project in which many factors combines harmoniously, so it needs an efficient mechanism to make the innovation system self-organized. Unfortunately, this issue has not been given enough attention in previous studies. In view of this, this paper designs the synergy mechanism of financial business innovation of commercial banks, according to the theories of synergy and mechanism design, combining with practice of the commercial banks at home and abroad, which includes the following aspects:Firstly, synergy framework. We should set up a conceptual framework which can make sure that all innovation factors work in coordination with each other. In the synergy perspective, this paper analyses and chooses the innovation elements which contain technology, strategy, policy, and market, designs the synergy framework of financial business innovation, in which the element of technology works as the order parameter, and presents the display of synergy mechanism during financial business innovation process.Secondly, teamwork incentive. We should build up the incentive mechanism which can promote the people in the innovation team cooperate with each other, according to the characteristics of the innovation of financial business. Innovation teamwork inside commercial bank belongs to a category of cross-functional team, which satisfies the requirement of adequate information exchange. So, adopting some appropriate institutional arrangements, we could create a cultural atmosphere that can encourage the members to communication and cooperae with each other, which could improve members' emotion utility, internalize the incentive mechanism, and achieve the target that both the members'utility maximum and Pareto optimality.Thirdly, performance measurement. We should establish the index system of operating performance of the synergetic mechanism of financial business innovation system, which contains the aspects of synergy status of innovation elements, teamwork incentive, and the influence of external conditions, then introduce an appropriate evaluation method for it. Thereby, we can survey the operating performance of the synergetic mechanism on the whole conveniently.