改革
改革
개혁
Reform
2014年
4期
141~150
,共null页
余额宝 新兴金融产品 互联网金融监管
餘額寶 新興金融產品 互聯網金融鑑管
여액보 신흥금융산품 호련망금융감관
balance treasure, emerging financial products, internet financial supervision
余额宝将基金直销系统内置到网站这一服务创新模式，推动了互联网金融大发展。”搅动”了整个银行业。借助威廉姆斯交易成本经济学的前提假设、合同定价机理、相机治理机制和纵向一体化理论分析了余额宝背后隐藏的经济学原理，揭示了消费者认同余额宝、余额宝能成功搅动银行、天弘基金被阿里巴巴收购均是为了节省交易成本。我国应加快推进利率市场化改革，加强互联网金融监管，构建互联网金融监管体系。
餘額寶將基金直銷繫統內置到網站這一服務創新模式，推動瞭互聯網金融大髮展。”攪動”瞭整箇銀行業。藉助威廉姆斯交易成本經濟學的前提假設、閤同定價機理、相機治理機製和縱嚮一體化理論分析瞭餘額寶揹後隱藏的經濟學原理，揭示瞭消費者認同餘額寶、餘額寶能成功攪動銀行、天弘基金被阿裏巴巴收購均是為瞭節省交易成本。我國應加快推進利率市場化改革，加彊互聯網金融鑑管，構建互聯網金融鑑管體繫。
여액보장기금직소계통내치도망참저일복무창신모식，추동료호련망금융대발전。”교동”료정개은행업。차조위렴모사교역성본경제학적전제가설、합동정개궤리、상궤치리궤제화종향일체화이론분석료여액보배후은장적경제학원리，게시료소비자인동여액보、여액보능성공교동은행、천홍기금피아리파파수구균시위료절성교역성본。아국응가쾌추진리솔시장화개혁，가강호련망금융감관，구건호련망금융감관체계。
Balance treasure builds direct sales of the fund system into the site. This service innovation pattern promotes the development of Internet banking, and stirres the entire banking industry. With the help of Williams＇s assumption, contract pricing mechanism, governance mechanism and vertical integration theory of transaction cost economics, this paper analyzes the economics principle hidden behind the balance treasure, reveals the reason that consumers approve balance treasure, balance treasure successful agitation bank and Tian-hong fund is acquired by Alibaba is to save transaction costs. Our country should accelerate the interest rate marketization reform, strengthen the financial supervision, and construct the internet financial supervision system.
