The Empirical Research On The Impact Of Financial Disintermediation On The Intermediary Business Of China's Commercial Bank

The main financing way of the enterprises in China is indirect financing,which is mainly relying on bank loans.With the development of Chinese capital market and the deepening of financial reform,making our country keep a record of bond financing and equity financing,direct financing accounted for the proportion rising social financing scale,financial disintermediation growing in our country,severely weakened the profitability of commercial Banks.This paper mainly studies the financial disintermediation's influence on the development of the intermediary business of commercial bank.First of all,this article elaborate the connotation of financial disintermediation and the cause of our country financial disintermediation,the present situation of our country financial disintermediation,then expounds the connotation of the intermediate business of commercial bank,type of business and the necessity of the development of our country commercial bank middle business,the development present situation,then elaborating the connotation of the intermediary business of commercial bank,the type of intermediary business and the necessity of the development of our country commercial bank intermediary business,the present situation of intermediary business.Finally the model of this paper choose 2006-2015 annual data of 14 Chinese commercial Banks,using the panel data model to verify the influence of financial disintermediation on the development of Chinese commercial bank's intermediary business.And then discussed the influence of financial disintermediation on large stateowned Banks,joint-stock Banks,local joint-stock bank.Studies have shown that financial disintermediation overall was positively correlated with the development of our country commercial bank intermediary business,in classification discussion,financial disintermediation is negatively related to the development of intermediary business of big owned bank.financial disintermediation is positive correlation with the development of Intermediary business joint-stock Banks and local joint-stock bank.Financial disintermediation impact the deposit and loan business of bank,but on the other hand,promote the bank to change profit model,raise their competitiveness,develop intermediary business.