A Study On The Transformation Of Chinese Commercial Bank Business Under The Background Of Financial Disintermediation

With economy in China developing fast, financial market improving step by step and technology of internet updating quickly, financial disintermediation gradually deepening year by year. Chinese commercial bank in the background of financial disintermediation, debt funding sources are shunt, at the same time loans are squeezed by financial market, and the third payment institutions are competing with banks in the field of payment business, all above make commercial banks under pressure. Thus, financial disintermediation is changing the business structure of commercial bank. How to realize the transformation of commercial bank business in the process of financial disintermediation, establish competitive advantage and provide opportunities will be a huge commission for commercial bank and also be our key purpose of this dissertation.This dissertation chooses self-organizing theory and evolutionary game theory to study the transformation of commercial banks in the background of financial disintermediation. This dissertation researches on self-organization evolution mechanism and characteristics of financial disintermediation, uses self-organizing theory to analyze financial disintermediation process of the commercial bank in United States, Britain, Japan and other developed countries, finds out the causes and forms of financial disintermediation in our commercial banks, and study the effects on assets, liabilities, payment business.This dissertation chooses two research methods based on the theory study:first, the vector autoregressive model (VAR) is used to do an empirical analysis the influence financial disintermediation of the explanatory variables on deposits and the impulse response function (IRF) portrays the financial disintermediation specific degree of impact on bank deposit and loan business; secondly, evolutionary game theory is introduced to analyze competition and cooperation relations between our commercial banks and third-party payment on the payment business, thus we seek dominant strategy and regain the competitive advantage in the transformation of financial disintermediation.This dissertation bases on the analysis of the vector autoregressive model and evolutionary game theory and raises the direction and strategy of the transformation on the business of commercial bank assets and liabilities, the Internet financial business, risk management:first, in the assets business of commercial Banks, improve the initiative of the asset management by comprehensive asset management; secondly, in the liabilities business, improve the initiative of liability management by creating business tools and increasing active liability ratio; thirdly, commercial Banks are to keep up with the changing trend of the Internet finance and set up Internet thinking to make the commercial bank business on Internet; finally, risk management pattern of commercial bank should be adjusted according to the traditional and new business to realize the comprehensive upgrade of commercial bank business.This dissertation has the following innovations:first, it uses self-organizing theory in the field of commercial bank system to explain the mechanism of financial disintermediation of commercial bank; secondly, the evolutionary game theory is introduced to the analysis of the competition and cooperation between commercial bank and third party payment in the background of financial disintermediation; thirdly, bonds, stocks, funds, trust, commercial bank financial products as indexes are introduced in the vector autoregressive model (VAR) by using the impulse response function (IRF) to analyze the effects on traditional business of commercial banks.The improvement of this dissertation has two aspects in the future:first, due to the data availability, we will study to all the factors of "shadow bank" adding the empirical analysis in the future; secondly, we will carry out stratified analysis of the influence and impact of financial disintermediation on commercial bank.