非利息业务发展及其对银行效率的影响研究：基于市场势力视角的分析

With the changes in the financial environment, Chinese commercial banks have encountered fierce competition, and profitability based on interest activities is not strong enough to respond to the increasing competition. Developing non-interest activities, seeking new profit-growth spots, and striving for greater living space have become important and urgent. Under this background, this project studies the development of non-interest activities and its impact on bank efficiency from the perspective of market power by using the combined methods of normative research and empirical research, such as theoretical analysis, logic analysis, and statistical analysis. The research contents are as follows: (1) analyzing the market power of Chinese commercial banks; (2) dissecting the internal impact of market power on non-interest activities; (3) clearing the direct effect and indirect effect of non-interest activities on bank efficiency; (4) revealing the mediating effect of non-interest activities on the relationship between market power and bank efficiency. This research not only contributes to clear the internal relationships among market power, non-interest activities, and bank efficiency, and enrich and expand the research directions and contents of non-interest activities; but also contributes to provide the empirical evidence and policy suggestions for the development and supervision of non-interest activities in Chinese banking industry and ensure efficient and stable operation of Chinese banking system.

随着金融环境的变化，中国商业银行面临着激烈的竞争，利息业务的盈利能力已不足以应对日益剧增的竞争压力。发展非利息业务、寻求新的利润增长点以及争取更大的生存空间变得十分重要和紧迫。在此背景下，本项目运用思辨分析、逻辑分析和统计分析等规范研究和实证研究相结合的方法，基于市场势力视角研究非利息业务发展及其对银行效率的影响。本项目的研究内容包括：（1）解析中国商业银行的市场势力；（2）剖析市场势力对非利息业务的内在影响；（3）明晰非利息业务对银行效率的直接影响和间接影响；（4）揭示非利息业务对市场势力和银行效率关系的中介作用。本项目的研究不仅有助于明晰市场势力、非利息业务和银行效率三者之间的内在关系，丰富和拓展非利息业务研究方向和内容；而且有助于为中国银行业非利息业务发展和监管提供全面的实证证据和政策建议，切实保障中国银行体系高效稳定地运行。

随着金融环境的变化，中国商业银行面临着激烈的竞争，利息业务的盈利能力已不足以应对日益剧增的竞争压力。发展非利息业务、寻求新的利润增长点以及争取更大的生存空间变得十分重要和紧迫。在此背景下，本项目采用我国100多家商业银行的经验数据，运用思辨分析、逻辑分析和统计分析等规范研究和实证研究相结合的方法，探索市场势力、非利息业务与银行效率三者之间的关系，发现以下结论。第一，国有商业银行市场势力明显高于非国有商业银行，上市商业银行市场势力高于未上市商业银行。第二，商业银行的市场势力越强，非利息收入越低，进一步分析显示商业银行的市场势力越强，佣金手续费收入和交易收入均越低。第三，金融危机之后，商业银行非利息收入，特别是交易收入显著降低。第四，与金融危机之前相比，市场势力对非利息收入的影响在金融危机之后较弱，这主要是因为市场势力对交易收入影响变弱。第五，商业银行的成本效率普遍高于利润效率；银行效率测量中不考虑非利息业务产出导致银行效率明显低估；成本效率和利润效率近年来均有所提高。第六，本项目分别基于非利息收入（非利息业务的直接效应）和业务多元化（非利息业务的间接效应）的两个视角探索非利息业务对银行效率的影响，发现非利息收入对银行效率的影响为负，即非利息业务直接效应为负；业务多元化对银行效率的影响同样为负，即非利息业务间接效应为负。最后，本项目整合非利息业务的直接效应和间接效应，发现非利息业务对银行效率的整体影响是U型的。本项目的研究不仅有助于明晰市场势力、非利息业务和银行效率三者之间的内在关系，丰富和拓展非利息业务研究方向和内容；而且有助于为中国银行业非利息业务发展和监管提供全面的实证证据和政策建议，切实保障中国银行体系高效稳定地运行。