The Research On The Effect Factors Of Financial Products' Yield Of Commercial Bank

With the development of our society and the gradual deepening of the reform of financial markets, people's consciousness of wealth management has greatly improved, and people's financial demand has given rise to various types of financial services and products. Among them, the financial product of commercial bank is one of the most popular investment options.Since 2004, financial product markets have gradually become popular. According to the relevant data statistics,in 2014, those financial products issued by our country's commercial bank are over 66000, and the type and scale of the commercial bank's financial product are constantly achieving new breakthroughs. So, how about the situation of the yield of commercial bank's financial product? What are the factors which influence the yield? This article carried on the thorough research to these questions.On the basis of summarizing the research status at home and abroad, the research content of this article carries out the theoretical analysis of influence factors of financial product's yield from the angle of macro, meso and micro. Then, this article makes an empirical research on 42 commercial banks' 1260 financial products by using principal component analysis and stepwise regression. Get the following conclusions: (1) Bank financial product's real annualized yield has a positive correlation with the rate of inflation, entrust deadline,underlying assets, expected return of upper and lower limits, bank's comprehensive financial capacity, stock index; (2) Bank financial product's real annualized yield has a negative correlation with the benchmark interest rate, money supply, currency type, ratio of insurance,difference between yields on upper and lower limits, business model, exchange rate. Among them, most factors' affecting directions except the benchmark interest rate are consistent with the reality of our country's financial product market. As a result, they can obtain good explanation.Finally, on the basis of theoretical analysis and empirical analysis, this article puts forward related suggestions respectively for commercial banks and investors to develop financial business of commercial banks and provide reference for people's investment choices.