Research On The Impact Of Third Party Payment On Bank Risk-taking

With the development of Internet technology,China's e-commerce industry has been greatly promoted,and third-party payment has emerged.In just ten years,the market size of third-party payment has grown exponentially,and it has gradually developed into a comprehensive platform,which includes payment settlement,Internet wealth management investment,and consumer credit.The resulting competition and cooperation between third-party payment and commercial banks have brought a certain impact on latter's traditional business model.Commercial banks are the core part of China's financial system,which play an important role in resource allocation and economic regulation.Their stability are directly related to the stability of China's financial system and social-economic development.By studying the impact of third-party payment on the risk-taking of commercial banks,bank managers can better understand the development of third-party payment,improve risk management capabilities,and make better responses to the impact.Therefore,this article studies the impact of third-party payment on commercial banks' risk-taking.This article sorts out the relevant theories of third-party payment and bank risk-taking,discusses the mechanism of third-party payment's impact on commercial bank risk-taking,and attempts to explore whether commercial bank risk-taking is "active preference" or "passive choice".Based on the financial intermediary theory,bilateral market theory and financial symbiosis theory,by selecting the relevant data of China's listed banks and third-party payments from 2014 to 2018 as research samples,a fixed-effect model was established to empirically analyze the influences of third-party payments to China's listed banks' risk-taking.The results of the study show that the third-party payment's marginal effect and risk spillover effect on commercial banks are much greater than the cooperative effect.The development of third-party payment has increased the passive risk-taking of commercial banks.Under the effect of profit-seeking mechanism,commercial banks prefer to increase their risk appetite.For passive risk-taking,both national and local commercial banks will be adversely affected by the development of third-party payment,and there is no significant difference in the effects.As far as active risk selection is concerned,the development of third-party payment will increase the risk appetite of local commercial banks,but it has no significant impact on national commercial banks.Based on above,this paper throws out policy suggestions on strengthening the construction of information disclosure system for third-party payment aiming at commercial banks' risk-taking.This paper improve the theoretical framework of research issues on the impact of third-party payment on commercial banks' risk-taking,proposes policy recommendations for financial risk management for different market players,and innovatively explores the bank risk-taking behavior and inter-bank heterogeneity from the impact path.It is of great significance for supervisory agencies to strengthen bank supervision and prevent systemic risks.In addition,this article has a positive significance for improving the commercial banks' awareness o f third-party payment and improving the risk management of commercial banks.To prevent various risks in the future and realize stable operation,it is necessry for commercial banks to sort out the impact mechanism of third-party payment on commercial banks' risk-bearing,improve the risk management capabilities,and make timely and reasonable responds to the impact of third-party payments.