存款利率市场化下商业银行经营结构与存款利率的关系研究

中国存款利率市场化开启时期正是银行经营快速转型阶段，研究银行经营结构对存款利率的影响具有重要现实意义。基于2011—2017年中国105家银行数据，本文验证了银行经营结构与存款利率之间的关系。研究表明：（1）两类非利息收入影响存款利率的方向不同。手续费及佣金收入降低了存款利率，而其他经营收入提高了存款利率。（2）存款负债占比越高，存款利率越高，且这一作用在城商行和农商行中更明显。（3）非利息收入和存款负债存在交互作用。手续费及佣金收入、存款负债减弱了彼此调节存款利率的作用，其他经营收入、存款负债增强了彼此调节存款利率的作用。（4）影子银行规模越大、存款利率越高，但这一作用随着手续费及佣金收入的扩大而减弱。随着利率“双轨制”的逐步取消与金融业的进一步开放，银行需尽快完善存款定价机制，防范利率风险。 

RESEARCH ON THE RELATIONSHIP BETWEEN COMMERCIAL BANKS OPERATION STRUCTURE AND DEPOSIT INTEREST RATE UNDER DEPOSIT INTEREST RATE LIBERALIZATION——Evidence from Listed Companies in China

The opening period of Chinas deposit interest rate liberalization witness the rapid transformation of banks operation structureIt is of great practical significance to study the effect of banks operation structure on deposit rateBy using data from 105 banks in China from 2011 to 2017, this paper verifies the relationship between bank operation structure and deposit interest rateFirst, two types of non interest income have opposite effects on deposit interest rateFee and commission income reduce deposit interest rate, while other operating income increase deposit interest rateSecond, the higher the ratio of bank deposits to liabilities, the higher the interest rate on deposits, and this effect is more evident in city commercial banks and rural commercial banksThird, non interest income and deposit liability have interactionFee and commission income and deposit liabilities mutually mitigate the effect of adjusting deposit interest rate, while other operating income and deposit liabilities aggravate the effect of adjusting deposit interest rateFinally, the bigger the shadow banking, the higher the deposit interest rate, but this effect is weakened by the expansion of fee and commission incomeWith the gradual cancellation of dual track interest rate system and further opening of financial industry, banks need to improve the deposit pricing mechanism as soon as possible and guard against interest rate risk