| Interest rate is the price of financial assets and the core of a country's finance and economy.Its fluctuation is related to the security and stability of the financial market.Therefore,interest rate liberalization is of great significance to financial development.Interest rate market is a double-edged sword.In the past 20 years,the deepening of interest rate liberalization has brought opportunities and challenges to China's commercial Banks.On the one hand,commercial Banks can use credit resources to maximize their value in a more free market environment.On the other hand,commercial Banks also need to take into account the resistance of more uncertainties to credit allocation.Driven by interest rate liberalization,commercial Banks have to optimize their allocation of credit resources to improve their competitiveness in order to better adapt to the competitive financial market.In the 2015,China's interest rate marketization reform has been basically completed.in this great,in the process of marketization of interest rate will affect commercial Banks survival environment,urge commercial Banks to improve credit allocation adjustment,is a serious problem.Therefore,in order to analyze the change degree and direction of Commercial Bank's credit structure and efficiency in the process of interest rate marketization,Based on the research results of domestic and foreign scholars,this paper constructs the theoretical framework of the relationship between interest rate marketization and bank credit allocation,puts forward three hypotheses of the influence of interest rate marketization on bank credit allocation,and selects 16 listed commercial banks 2007-2016 years 10 years of panel data as samples for empirical research,By choosing the ratio of deposit and loan which can directly reflect the marketization of interest rate as the explanatory variable,the allocation proportion of credit allocation according to object,industry and guarantee type is taken as the explanatory variable,and the influence of interest rate marketization on the credit allocation of Chinese commercial banks is analyzed comprehensively from both qualitative and quantitative aspects.The 16 Banks in this paper include three types,five are large state-owned commercial Banks,three are city commercial Banks,and eight are small and medium-sized joint-stock Banks.Based on the domestic and foreign scholars on the basis of related research,based on the literature review,theoretical analysis,empirical analysis,policy recommendations"analysis framework and from the qualitative and quantitative two aspects to explore the significance of topic selection.The results show that under the background of interest rate liberalization,the credit allocation of commercial Banks has been strongly impacted.On the one hand,the fierce competition between the industries prompted banks to adjust the structure of credit allocation,looking from the loan object and the guarantee type,as the interest rate marketization deepens,the short-term deposit and loan spreads narrow,the personal loan and the credit loan are inversely proportional to the deposit and deposit spreads,namely the personal loan,the credit loan allocation share rises;from the industry configuration,The interest difference between deposit and loan is basically proportional to the proportion of loans in traditional industries,which indicates that the proportion of credit resources in traditional industries has declined,and the distribution of bank credit is more decentralized and rationalized.On the other hand,in terms of the degree of influence,state-owned enterprises suffer more shocks than other non-state-owned enterprises.Therefore,in order to get stable sustainable development of the commercial Banks,to realize the profit maximization,must optimize the structure of the allocation of resources,improve the efficiency of resource utilization,find suitable for their own development business model. |
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