Research On The Impact Of The Development Of Internet Financial Enterprises On The Income Level Of Commercial Banks

The emergence and development of Internet financial enterprises is the inevitable result of economic,social and technological progress.In recent years,with the development of "Internet + finance",the financial market has injected new vitality into the financial market.On the one hand,this development is reflected in its innovation in terms of business environment,such as business mode,business philosophy and service mode,and on the other hand,it is embodied in the following aspects: It relies on its own technological advantages,cost advantages,data advantages in the operation of specific business innovation.This development will not only impact the traditional business model,business philosophy and service model of commercial banks,but also erode the profits of traditional commercial banks at the deposit and lending and intermediate business levels,bring about competitive effects,and reduce the income level of commercial banks.However,from another point of view,this kind of development can not only deepen the financial market reform and optimize the allocation of financial resources,but also provide a certain reference direction for the reform of traditional commercial banks,forming a technology spillover effect,which has brought positive significance to the improvement of the income level of commercial banks.Based on the important position of commercial banks in China's financial market and economic development,it is necessary to clarify the relationship between the development of Internet financial enterprises and the income level of commercial banks,and put forward relevant suggestions to help commercial banks develop long-term,sustained and efficient,and further improve the level of economic development in China.Based on the above background,this paper carries out the following research process: Firstly,it reviews and summarizes the relevant research on the impact of the development of Internet financial enterprises on the income level of commercial banks by domestic and foreign scholars,then defines the related concepts of Internet financial enterprises and commercial banks,and expounds the financial intermediation theory and Schumpeter's creative destruction theory.Secondly,it makes a theoretical analysis of the impact of the development of Internet financial enterprises on China's commercial banks.Based on Schumpeter's theory of creative destruction,this paper analyses the creative destruction of commercial banks caused by the development of Internet financial enterprises.On this basis,it further sums up the influence mechanism of the development of Internet financial enterprises on the income level of commercial banks,and then puts forward the research hypothesis.Thirdly,according to the research hypothesis,this paper chooses panel data of 152 commercial banks in China from 2010 to 2017 to carry out empirical research on the impact of the development of Internet financial enterprises on the income level of commercial banks in China.The results show that:(1)Overall,the development of Internet financial enterprises has significantly reduced the income level of commercial banks.(2)According to classification,the development of Internet financial enterprises has significantly improved the income level of large state-owned commercial banks and joint-stock commercial banks,and significantly reduced the income level of urban commercial banks.Finally,based on the overall level and specific business level,the paper puts forward the Countermeasures of commercial banks.The development of Internet financial enterprises has brought opportunities and challenges to commercial banks.Under the background of the new normal economy,such challenges can not be eliminated.Commercial banks should actively face these challenges.On the one hand,they should accelerate the transformation to adapt to the economic development trend,on the other hand,they should make good use of the opportunities brought by the development of Internet financial enterprises to promote the healthy and lasting development of commercial banks.