The Impact of Internet Finance on the Profitability of Commercial Banks

Abstract

인터넷 기술의 급속한 발전과 개선으로 인터넷 금융은 큰 발전을 이루었다. 인터넷 금융은 자신의 장점으로 시장을 선점하고 상업 은행의 지배적 위치를 위협했다. 이 논문은 주로 인터넷 금융이 상업 은행에 미치는 영향 메커니즘과 상업 은행에 대한 대응 전략을 연구한다. 이 논문은 먼저 인터넷 금융이 상업 은행의 수익성에 미치는 영향에 대한 국내외 문헌을 분류한 다음 인터넷 금융의 관련 개념을 정의한다. 다음으로 중국 주요 상업은행의 현황과 인터넷 금융의 발전 및 자체 수익성을 설명하고, 인터넷 금융이 상업은행의 수익성에 미치는 긍정적 및 부정적 영향을 분석한다. 그런 다음 2012-2021년 중국 15개 다양한 유형의 상업 은행의 데이터를 사용하여 패널 데이터를 설정하고 고정 효과 모델을 사용하여 인터넷 금융이 상업 은행의 수익성에 미치는 영향을 확인한다. 실증 결과에 따르면 인터넷 금융의 발전은 상업 은행의 수익성을 촉진할 수 있지만 다양한 유형의 상업 은행에 대한 영향에는 분명한 차별화 특성이 있다. 마지막으로 위의 경험적 분석 결과를 바탕으로 논문과 관련된 결론 및 제안을 제시한다. | The rapid development and improvement of Internet technology has driven the development of e-commerce, social APP and other industries, and subtly changed people's consumption and entertainment methods. In order to meet people's rapidly expanding financial needs, Internet finance came into being and gradually penetrated into people's daily life. With their advantages of low cost, efficient service, and simple operation, these emerging Internet financial products and platforms have lowered the entry threshold of the financial industry, provided ordinary people with more opportunities to participate in financial activities, and broke the geographical restrictions of financial transactions and time constraints. At the same time, through in-depth mining of user behavior and transaction data, a relatively complete credit system has been established, which can effectively prevent potential financial risks. In the context of the development of Internet finance, the three major businesses of commercial banks are also changing quietly. With its convenient operation and flexible product structure, Internet finance quickly became popular in a short period of time, diverting the customer base and three major types of basic businesses of commercial banks, making commercial banks lose their absolute right to speak in the financial market. Based on this situation, clarifying the relationship between the two will help commercial banks consolidate their position in the financial market and help them improve their profitability and anti-risk capabilities. This paper firstly combs the domestic and foreign literature on the impact of Internet finance on the profitability of commercial banks, then defines the related concepts of Internet finance, and expounds the theoretical foundations of platform economic theory, financial intermediary, and the long tail theory. Next, it describes the current situation of China's major commercial banks and the development of Internet finance and its own profitability, and analyzes the positive and negative effects of Internet finance on the profitability of commercial banks. Then, the panel data was established by using the data of 15 different types of commercial banks in China from 2012 to 2021, and the fixed effect model was used to verify the impact of Internet finance on the profitability of commercial banks. The empirical results show that the development of Internet finance has a positive effect on the profitability of commercial banks, but there are obvious differences in its impact on different types of commercial banks. Finally, based on the above empirical analysis results, from the perspective of commercial banks themselves and even the regulatory authorities, this paper puts forward development strategies such as accelerating the cooperation between Internet finance and commercial banks, standardizing relevant laws and regulations, and providing a good business environment.