投资者情绪、银行管理者乐观与风险承担  

Investor Sentiment, Managerial Optimism and Bank Risk Taking

作　　者：张丞[1] 卢米雪[1] 桑璇[1] 

机构地区：[1]中南财经政法大学金融学院,湖北武汉430073

出　　处：《山西财经大学学报》2014年第4期48-57,共10页Journal of Shanxi University of Finance and Economics

基　　金：中南财经政法大学项目(2012B0408);国家社科基金项目(10XJY0023)

摘　　要：利用我国34家非上市商业银行2000—2011年的面板数据，研究了投资者情绪对银行风险承担的影响以及银行管理者乐观在这一影响机制中所发挥的作用。结果发现，投资者情绪与银行风险承担显著负相关，与银行管理者乐观也显著负相关。同时，投资者情绪对银行风险承担的负向影响至少有一部分是以“管理者乐观渠道”为中介的。最后发现，银行管理者乐观程度越高，投资者情绪对银行风险承担的负向影响越小。This paper uses data of 34 unlisted banks in China from 2000-2011 as samples to research the relation between in- vestor sentiment and banks risk taking, and the role of managerial optimism in the mechanism. Investor sentiment has a negative cor- relation with bank risk taking and managerial optimism; the negative influence of the investor sentiment to bank risk taking is offset partly by managers optimism channels; enhancing managers optimism can alleviate the impact of investor sentiment to bank risk taking and change bank risk taking cyclical characteristic.

关 键 词：投资者情绪 银行风险承担 管理者乐观 

分 类 号：F830.3[经济管理—金融学]