An Empirical Analysis Of Loan Term Structure And Operating Performance Of Commercial Banks In The Background Of Financial Disintermediation

After the financial disintermediation in the United States in 1960,Italy,Japan,the United Kingdom,and other countries also experienced disintermediation.According to the development experience of developed countries,financial disintermediation is accompanied by the improvement of a country's economic development level,the gradual development of financial markets,and the gradual improvement of the capital market.It is inevitable in a country's financial development process.And will show long-term sustainable development.The emergence of financial disintermediation will be affected by the commercial banks of a country.For countries such as China that have always been the core of the financial system,financial disintermediation will have a greater negative impact on commercial banks.China's financial disintermediation first appeared in the 1990 s,but as China's capital market was at the initial stage and development was slow,the trend of financial disintermediation was not obvious.After entering the 21 st century,China's stock market,bond market,and financial derivatives market have all achieved rapid development.The development of multi-level markets has gradually matured,and the level of financial disintermediation has continued to deepen.The deepening of financial disintermediation,on the one hand,has provided diversified investment channels and consumer credit channels for the residents of our country,resulting in the reduction of residents' savings deposits and diversion of bank funding sources.On the other hand,it also expanded the company's investment and financing channels and reduced the company's dependence on bank loans.The impact of financial disintermediation on these two aspects has caused the traditional bank deposit and loan business of the commercial bank to be affected and the bank's interest differential has decreased,which has affected the bank's operating performance.However,financial disintermediation is also a “double-edged sword”,which has impacted the deposit and loan business and also brought opportunities for the transformation of China's commercial banks.Based on the relevant theories of financial disintermediation,this article elaborates the relevant research results on financial disintermediation and commercial bank loan structure at home and abroad,and then clarifies the topic of the paper.After this,a detailed analysis of the status quo of the development of China's financial disintermediation and the current status of China's commercial bank loan structure in the context of financial disintermediation.On the basis of qualitative analysis,this paper uses the data of 14 listed commercial banks from 2007 to 2016 as a research sample,and uses panel data analysis methods to empirically test the effect of financial disintermediation on the maturity structure of commercial banks.influences.The results of the study show that: financial disintermediation weakens the impact of medium and long-term loans of commercial banks on commercial banks' operating performance.At the same time,financial disintermediation itself has adverse effects on commercial banks' operating performance.Finally,according to the empirical research results,this paper believes that under the background of financial disintermediation,commercial banks should optimize the loan term structure,control the proportion of medium-and long-term loans within a reasonable range,optimize customer structure,and consolidate quality and large clients,while developing small and medium customers.looking for new sources of profit growth.At the same time,commercial banks should seize the opportunities brought by financial disintermediation,conduct business transformation and innovation,and vigorously develop intermediary businesses.