| After the financial crisis in 2008,Shadow banking gradually get into people’s sight,also,it has caused the further research of scholars.Shadow banking in China broaden the financing channels for small and medium enterprises as well as played an important role on improving the diversification of investment channels for the social idle funds.Shadow Banks in China is different with the shadow banks abroad that put on the asset securitization,our leverage ratio is relatively low,but due to the the characteristics of low information transparency and lacking of the financial regulation,in the process of its accumulation of risk,shadow banks still brought certain influence to the financial system in our country.To ensure the profitability of commercial banks and to ensure the security and stability of commercial banks is an important prerequisite for maintaining stable operation of China’s financial system.The existence of the shadow banking not only effectively improves the profitability of commercial banks,but also promotes the commercial banks to carry out the reform and innovation of financial services.However,the expansion of the shadow banking has also made it difficult for commercial banks to raise profits,and it also poses huge risks.This paper uses the method of combination of theoretical analysis and empirical research,firstly,gives a conceptual description of the definition and characteristics of shadow banking in China,and then classifies and conducts detailed statistics according to the characteristics of shadow banking in china.We found that China’s shadow banking has information asymmetry and low leverage rate,and services mainly for small and medium enterprises,the household sector and the real estate industry.Based on the characteristics of China’s shadow banking,we classified it as shadow banking business of commercial banks and all kinds of bank function of non bank financial institutions and financial intermediary credit.After clarifying the impact of shadow banks will bring and will have an impact on the profitability of commercial banks in the theoretical way,we use the scale of shadow banking data and indicators of profitability of commercial banks from 2007 to 2015.We establish panel data model to analyze the impact of shadow banking on the profitability of commercial banks,and then a robustness test is carried out to ensure the robustness of the empirical results.The results show that the influence of shadow banking on the profitability of China’s commercial banks can use the inverted "U" curve,when the shadow banking scale is controled in a certain size range,it can effectively enhance the profitability of commercial banks in china.Once beyond reasonable limits,shadow banks will pose a threat to the profitability of commercial banks,and even the potential risks to them will be passed to commercial banks and the entire financial system.At the same time,this paper selects the index of internal management of commercial banks in the empirical part,the results show that the internal revenue management index of business of commercial banks in China,the growth rate of total asset turnover,operating income margin,human capital investment the rate of return and non interest income ratio and capital adequacy ratio show a significantly positive relationship with the profitability of commercial banks,while the profitability of commercial bank assets and commercial banks have the reverse effect,it reveals that China’s commercial banks currently have larger assets,during the operation process,cost control and expansion of the scale of capital yet to be unified,the profitability of commercial banks the upgrade to suppress.The external macroeconomic indicators GDP is positively affecting the profitability of commercial banks.It shows that the profitability of commercial banks will increase with the development of external macroeconomic.According to the results of this study,we put forward the corresponding opinions from the bank’s own risk control shadow and financial innovation for the commercial banks to enhance profitability to make the shadow banks and commercial banks in China are harmonious win-win situation and for our country’s financial system to better service. |
