互联网金融发展对商业银行流动性的影响——来自中国15家上市银行的经验证据  

The Influence of Internet Finance Development on the Liquidity of Commercial Banks--Empirical Evidence from 15 Listed Banks in China

作　　者：裴平[1] 傅顺 Pei Ping;Fu Shun

机构地区：[1]南京大学经济学院

出　　处：《经济学家》2020年第12期80-87,共8页Economist

基　　金：国家社会科学基金重大项目“互联网金融发展、风险与监管”(14ZDA043)的阶段性研究成果。

摘　　要：近年来,以阿里巴巴为代表的互联网金融发展迅速,对商业银行流动性产生了重大影响。本文以2014—2019年中国15家上市银行为样本,综合采用固定效应模型和中介效应模型,实证检验了互联网金融发展对商业银行流动性的影响及其传导渠道,其主要结论是:互联网金融发展显著降低了商业银行流动性;互联网货币基金、第三方支付和网络借贷三大业务对商业银行流动性都有影响,但影响程度不同,即互联网货币基金的影响最大,第三方支付的影响次之,网络借贷的影响再次之;互联网金融发展降低商业银行流动性主要是以负债结构为传导渠道。本文所做研究有助于加强商业银行流动性管理,特别是防范商业银行流动性风险。In recent years,Internet finance represented by Alibaba has developed rapidly,which had a significant impact on the liquidity of commercial Banks.Taking 15 listed Banks in China from 2014 to 2019 as samples,this paper empirically tests the impact of Internet finance development on the liquidity of commercial Banks and its transmission channels through a combination of fixed effect model and intermediary effect model.The main conclusion is that the development of Internet finance has significantly reduced the liquidity of commercial Banks.Internet monetary funds,third-party payment,and P2P all have an impact on the liquidity of commercial banks,but the degree of impact is different,that is,Internet monetary funds have the great⁃est impact,third-party payments have the second largest impact,followed by the impact of P2P.The development of Internet fi⁃nance reduces the liquidity of commercial banks mainly through the transmission channel of debt structure.The research done in this article is helpful to strengthen the liquidity management of commercial banks,especially to prevent the liquidity risk of com⁃mercial banks.

关 键 词：互联网金融 商业银行流动性 负债结构 中介效应 

分 类 号：F49[经济管理—产业经济]