监管约束下我国商业银行资本增长与融资行为  

Capital Growth and Bank Financing Behavior under Regulatory Restriction in China

作　　者：李维安[1] 王倩[1] 

机构地区：[1]南开大学公司治理研究中心,天津300071

出　　处：《金融研究》2012年第7期15-30,共16页Journal of Financial Research

基　　金：国家社科基金重大项目(10ZD&035);国家自然科学基金项目(71172066);教育部人文社会科学重点研究基地重大项目(08JJD630007);长江学者和创新团队发展计划的资助

摘　　要：本文利用年报数据分析了资本要求对银行监管资本增长、融资形式和规模的影响。结果表明,银行面临的资本监管压力是其进行对外融资的直接动因,当监管压力越大时,资本增长越迅速。在外部融资形式的选择方面,银行更多采用股权融资补充核心资本,只有当银行面临的监管压力并不太大时,才更多地使用债券融资补充附属资本。此外,结果还表明银行为避免监管机构惩罚而建立的缓冲资本的数量影响了银行的股权融资规模。We use data from bank annual report and examine the effect of capital requirements on the bank capital growth, forms of financing options and scale. This paper indicates the regulatory capital pressure faced by banks is the direct motivation of external financing. The greater the regulatory pressure is, the faster the capital increases. In addition, banks use more equity, and only when the banks face less pressure, they use more debt. Our results also show that the capital buffer which is used to avoid regulatory punishment significantly affects the equity financing scale.

关 键 词：银行融资 资本监管 巴塞尔协议Ⅲ 

分 类 号：F832.1[经济管理—金融学] F832.33F224