A Study On The Influence Of Financial Disintermediation On The Profitability Of China 's Commercial Banks

Financial disintermediation first appeared in the late 20 th century in the United States,followed by other major Western countries, such as Germany, Italy, the United Kingdom have also emerged financial disintermediation.As China’s specific national conditions, so that the financial disintermediation in our performance is different from the Western countries, showing a long-term, recurrent infectious and other features.Financial disintermediation in a broad and narrow sense, broad financial disintermediation refers to the provider of funds and circumvent a financial intermediary funds directly financing the demand side of the phenomenon; financial disintermediation refers only narrowly out of the banking system or fund provider demand-side phenomenon and funding of direct financing. This paper studies the impact of financial disintermediation large commercial banks profitable, so the use of a narrow financial disintermediation.In this paper, the research methods used standardized analysis and empirical analysis, qualitative analysis and quantitative analysis, aimed at a more comprehensive study of financial disintermediation profitability on China’s commercial banks. First, the theoretical basis of relevant research at home and abroad,combined with China’s actual conditions describe the state of development of financial disintermediation in the traditional business of commercial banks and non-bank financial institutions and other aspects. And from the market economy is deepening, capital market developments, changes in investment ideas, innovative information technology and government policy support point of view of the fundamental causes of the financial disintermediation produced in our country. Then focus on quantitative analysis, the article take China’s listed commercial banks from2005 to 2014, 10-year panel data regression model through the establishment of financial disintermediation China’s commercial banks profitability.By studying this paper the following conclusions: First, financialdisintermediation profitability of listed commercial banks caused a significant impact,but the impact is positive, which is due to China’s commercial banks earlier noticed Chinese financial disintermediation trends, and actively take measures to guard against a variety of financial innovations negative impact of financial disintermediation, so good pressure into opportunities; again, in addition to financial disintermediation, the profitability of China’s listed commercial banks but also with the overall macro-economic development with a high degree of close contact; and finally, for the banks themselves, the non-performing assets, risk control, improve operational efficiency to enhance the profitability of banks has a significant role.Combined with China’s specific conditions gives the corresponding countermeasures based on empirical results. In particular to enhance the competitiveness of China’s commercial banks through reasonable control of the scale of growth, increase financial innovation and Optimize asset structure, etc., to seize the financial disintermediation on Chinese commercial banks opportunities to promote better and faster development of commercial banks.