互联网金融对传统金融业的影响外文文献翻译.docx

互联网金融对传统金融业的影响外文文献翻译.docx

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互联网金融对传统金融业的影响外文文献翻译

文献出处:

Ramsey;Labored.InternetFinance'sImpactonTraditionalFinance[J].TheJournalofInternationalFinance,2014,16

（2）:

31-49.

原文

InternetFinance'sImpactonTraditionalFinance

Ramsey;Labored.

Abstract

AstheadvancesinmoderninformationandInternettechnology,especiallythedevelopofcloudcomputing,bigdata,mobileInternet,searchenginesandsocialnetworks,profoundlychange,evensubvertmanytraditionalindustries,andthefinancialindustryisnoexception.Inrecentyears,financialindustryhasbecomethemostfar-reachingareainfluencedbyInternet,aftercommercialdistributionandthemedia.ManyInternet-basedfinancialservicemodelshaveemerged,andhavehadaprofoundandhugeimpactontraditionalfinancialindustries."Internet-Finance"haswinthefocusofpublicattention.

Internet-Financeislowcost,highefficiency,andpaysmoreattentiontotheuserexperience,andthesefeaturesenableittofullymeetthespecialneedsoftraditional"longtailfinancialmarket",toflexiblyprovidemoreconvenientandefficientfinancialservicesanddiversifiedfinancialproducts,togreatlyexpandthescopeanddepthoffinancialservices,toshortenthedistancebetweenpeoplespaceandtime,andtoestablishanewfinancialenvironment,whicheffectivelyintegrateandtakeuseoffragmentedtime,information,capitalandotherscatteredresources,thenadduptoformascale,andgrowanewprofitpointforvariousfinancialinstitutions.Moreover,withthecontinuouspenetrationandintegrationintraditionalfinancialfield,Internet-Financewillbringnewchallenges,butalsoopportunitiestothetraditional.Itcontributetothetransformationofthetraditionalcommercialbanks,compensateforthelackofefficiencyinfundingprocessandinformationintegration,andprovidenewdistributionchannelsforsecurities,insurance,fundsandotherfinancialproducts.FormanySMEs,Internet-Financeextendtheirfinancingchannels,reducetheirfinancingthreshold,andimprovetheirefficiencyinusingfunds.However,thecross-industrynatureoftheInternetFinancedeterminesitsriskfactorsaremorecomplex,sensitiveandvaried,andthereforewemustproperlyhandletherelationshipbetweeninnovativedevelopmentandmarketregulation,industryself-regulation.

KeyWords：

InternetFinance;CommercialBanks;Effects;Regulatory

1Introduction

ThecontinuousdevelopmentofInternettechnology,cloudcomputing,bigdata,agrowingnumberofInternetapplicationssuchassocialnetworksforthebusinessdevelopmentoftraditionalindustryprovidesastrongsupport,thelevelofpenetrationoftheInternetonthetraditionalindustry.Theendofthe20thcentury,MicrosoftchairmanBillGates,whodeclared,"thetraditionalcommercialbankwillbecomethenewcenturydinosaur".Nowadays,withthedevelopmentoftheInternetelectronicinformationtechnology,wereallyfeltthistrend,mobilepayment,electronicbankalreadyoccupiestheimportantpositioninourdailylife.

DuetotheconceptoftheInternetfinancialalmostentirelyfromthebusinesspractices,thereforethepresentstudyfocusedonthediscussion.Internetfinancialspecificmode,andtheinfluenceoftraditionalfinancialindustryanalysisandcountermeasuresarelackofsystemicresearch.Internethasalwaysbeenakeybattlegroundinriskinvestment,andfinancialindustryisthethinkingmodeofinnovativeexperimentalvariousbusinessmodelsemergeinendlessly,soitisdifficulttouseafixedsetofthinkingtoclassificationanddefinition.ThemutualpenetrationandintegrationofInternetandfinancial,isareflectionoftechnicaldevelopmentandmarketrulesrequirements,isanirreversibletrend.TheInternetbringtraditionalfinancialisnotonlyalowcostandhighefficiency,moreisakindofinnovativethinkingmodeandunremittingpursuitoftheuserexperience.Thetraditionalfinancialindustrytoactivelyrespondto.Internetfinancial,forsuchavastblueoceanenoughtochangetheworld,itisveryworthyofattentiontostraightenoutitsdevelopment,fromtheexistingbusinessmodeltoitsdevelopmentprospects.

"Internetfinancial"belongstothelatestformatsform,discussestheInternetfinancialresearchofliterature,butthelackofsystemicandmorepractical.SothisarticleaccordingtothecharacteristicsoftheInternetindustrypracticalstronger,theseveralbusinessmodelsonthemarketforsummaryanalysis,andthetraditionalfinancialindustryhowtoactivelyrespondtotheInternetwaveoffinancialanalysisandSuggestionsaregiven,withstrongpracticalsignificance.

2Internetfinancialbackground

InternetfinancialplatformbasedonInternetresources,onthebasisofthebigdataandcloudcomputingnewfinancialmodel.InternetfinancewiththehelpoftheInternettechnology,mobilecommunicationtechnologytorealizefinancing,paymentandinformationintermediarybusiness,isatraditionalindustryandmoderninformationtechnologyrepresentedbytheInternet,mobilepayment,cloudcomputing,datamining,searchenginesandsocialnetworks,etc.）Producedbythecombinationofemergingfield.WhetherfinancialortheInternet,theInternetisjustthedifferenceonthestrategic,thereisnostrictdefinitionofdistinction.AsthefinancialandthemutualpenetrationandintegrationoftheInternet,theInternetfinancialcanreferallthroughtheInternettechnologytorealizethefinancingbehavior.InternetfinancialistheInternetandthetraditionalfinancialproductofmutualinfiltrationandfusion,thenewfinancialmodelhasaprofoundbackground.TheemergenceoftheInternetfinancialisacravingforcostreductionistheresultofthefinancialsubject,isalsoinseparablefromtherapiddevelopmentofmoderninformationtechnologytoprovidetechnicalsupport.

2.1Demandsfactors

Traditionalfinancialmarketsthereareseriousinformationasymmetry,greatlyimprovethetransactionrisk.Exhibitiongraduallychangedpeople'sspendinghabits,moreandmorehightotherequirementofserviceefficiencyandexperience;Inaddition,risingoperatingcosts,tostimulatethefinancialmainbody'sthirstforfinancialinnovationandreform;Thispulledbydemandfactors,becometheInternetfinancialproducepowerfulinnerdrivingforce.

2.2Supplydrivingfactor

Datamining,cloudcomputingandInternetsearchengines,suchasthedevelopmentoftechnology,financialandinstitutionaltechnologyplatform.Innovation,enterpriseprofit-drivenmixedmanagement,etc.,forthetransformationoftraditionalindustryandInternetcompaniesofferedfinancialsectorpenetrationmay,forthebirthanddevelopmentoftheInternetfinancialexternaltechnicalsupport,becomeakindofexternalizationofconstitution.IntheInternet"openness,equality,cooperation,share"platform,third-partyfinancingandpayment,onlineinvestmentfinance,creditevaluationmodel,notonlymakesthetraditionalpatternoffinancialmarketswillbegreatchangeshavetakenplace,andmoderninformationtechnologyismoreeasilytoservevariousfinancialentities.Forthetraditionalfinancialinstitutions,especiallyinthebanking,securitiesandinsuranceinstitutions,moreopportunitiesthanthecrisis,developmentisbetterthanachallenge.

3Internetfinancialconstitutethemainbody

3.1Capitalproviders

BetweenInternetfinancialcomprehensive,itscapitalprovidersincludenotonlythetraditionalfinancialinstitutions,includingpenetratingintotheInternet.Intermsofthecurrentmarketstructure,thetraditionalfinancialsectormainlyincludecommercialBanks,securities,insurance,fundandsmallloancompanies,mainlyincludesthepartoftheInternetcompaniesandemergingsubject,suchastheamazon,andsomechannelsonInternetforthecompany.Thesecompaniesisnotonlytheprovidersofcapitalmarket,butalsotoomanytraditionalso-called"lownetworthclients"suppliersoffundsintothemarket.Inoperationform,theformermainlythroughtheInternet,tothetraditionalbusinessexternalization,thelattermainlythroughInternetchannelstopenetratebusiness,bothexternalizationandpenetration,boththroughtheInternetchanneltoachievethefinancialbusinessinnovationandreform.

3.2Capitaldemanders

Internetfinancialmodeofcapitaldemandersalthoughthereisnobreakthroughinthetraditionalgovernment,enterpriseandindividual,butonthebenefithasgreatlychanged.IntheriseanddevelopmentoftheInternetfinancial,especiallyInternetcompaniestoenterthethresholdofmadeinthetraditionalfinancialinstitutions,relativelyweakgroupsandindividualdemanders,haveamoreconvenientandefficientaccesstocapital.Asaresult,theInternetbroughtaboutbytheuniversalityandinclusivefinancialbetterthantheprevioustraditionalfinancialpattern.

3.3Intermediaries

Internetfinancialrelyonefficientandconvenientinformationtechnology,greatlyreducesthefinancialmarketsisthewronginformation.DockingdirectlythroughInternet,accordingtobothparties,transactioncostisgreatlyreduced,sotheInternetfinancemainbodyforthedependenceoftheintermediaryinstitutionsdecreasedsignificantly,butdoesnotmeanthattheInternetfinancialmarkets,thereisnointermediaryinstitutions.IntermsofthedevelopmentoftheInternetfinancialsituationatpresentstage,thethird-partypaymentplatformplaysanintermediaryroleinthisfield,notonlyACTSasafinancialsettlementplatform,butalsotothecapitalsupplyanddemandoftheintegrationofupstreamanddownstreamlinkmulti-faceted,inmeetthefundstopayatthesametime,havetheeffectofcapitalallocation.Especiallyinthefieldofelectroniccommerce,thisfunctioni