CAJ | 학술논문

以互联网支付为研究对象，基于中国16家上市银行2005—2013年企业层面的财务数据，采用新实证产业组织经济学方法验证互联网金融对商业银行市场势力的影响，同时采用中介变量的检验方法，验证互联网支付的竞争效应在业务层面的传导机制。结果显示，互联网支付对国有银行垄断地位的冲击极其有限，尚不构成威胁，但对股份制银行的影响效果非常明显；互联网支付主要通过增强其中间业务市场的竞争水平，降低商业银行的中间业务收入，拉低银行业的市场势力溢价。这为我国商业银行应对互联网金融，尤其是互联网支付平台的冲击提供了理论依据。
이호련망지부위연구대상，기우중국16가상시은행2005—2013년기업층면적재무수거，채용신실증산업조직경제학방법험증호련망금융대상업은행시장세력적영향，동시채용중개변량적검험방법，험증호련망지부적경쟁효응재업무층면적전도궤제。결과현시，호련망지부대국유은행롱단지위적충격겁기유한，상불구성위협，단대고빈제은행적영향효과비상명현；호련망지부주요통과증강기중간업무시장적경쟁수평，강저상업은행적중간업무수입，랍저은행업적시장세력일개。저위아국상업은행응대호련망금융，우기시호련망지부평태적충격제공료이론의거。
This essay takes internet payment as a target and uses financial datum of 16 Chinese listed commercial banks to study during 2005-2013. And it verifies the influence of internet finance on the market power of commercial banks by using the method of empirical industrial organization economics and tests the transmission mechanism of internet payment's competitive effects on business unit level using the method of intervening variable. It turns out that internet payment has limited influence on the monopoly power of state-owned banks but has a strong impact on share-holding banks. Through strengthening its competitiveness of the intermediary service, internet payment is thus to decrease commercial banks' revenue from intermediary service and lower their market power premium. This conclusion provides theoretical thesis for commercial banks to deal with the shock of internet finance, especially that of internet payment.