政府控股对商业银行风险承担的影响--基于国际银行业的证据  

The Effect of Government Ownership on Bank Risk Taking: Evidence from Global Banking Industry

作　　者：周开国[1,2] 邓月[1] 

机构地区：[1]中山大学岭南学院 [2]中山大学港澳与内地合作发展协同创新中心

出　　处：《国际金融研究》2016年第9期51-62,共12页Studies of International Finance

基　　金：教育部哲学社会科学研究重大课题攻关项目(14JZD007);国家自然科学基金项目(71572203);港澳与内地合作发展协同创新中心以及教育部人文社科重点研究基地中山大学港澳珠三角研究中心的资助

摘　　要：本文选取2005-2012年涵盖174个国家3047家商业银行的非平衡面板数据,将发达国家和发展中国家进行对比,并结合金融危机的背景,从全球视角探究政府控股对商业银行风险承担水平的影响。结果发现,发展中国家政府控股会降低商业银行的风险承担水平,提升银行的稳定性,但金融危机爆发后,政府控股银行的收益波动性和股本波动性反而增加,即风险承担水平增加。相比之下,发达国家政府控股虽然会降低银行的收益波动性和股本波动性,即收益波动风险降低,会增加银行的破产风险;另外,在金融危机前后,发达国家政府控股对于商业银行风险承担水平的影响并无明显差异。本文的研究结论说明,发展中国家和发达国家政府控股商业银行对银行风险承担水平的影响大相径庭。据此,我们提出政策建议,发展中国家政府控股商业银行具有必要性,但是在金融危机期间,政府需要兼顾稳定经济大局和银行系统的稳定;发达国家应避免控股商业银行,避免干预银行的市场化行为。Using the unbalanced data of 3047 commercial banks from 174 countries during 2005-2012, we explore the effect of government ownership on bank risk taking from the global perspective, differentiating developed countries and devel- oping countries, and also considering the effect of financial crisis. The following results are found. In developing countries, the government ownership decreases the risk taking level and enhances the stability of the banks. But the earnings and equity volatility of government owned banks increase after the financial crisis. However, in developed countries, the government own- ership increases the bankruptcy risk of banks, although it decreases the earnings and equity volatility. In addition, the effect of government ownership on bank risk taking does not change significantly before and after the financial crisis. The results imply that big discrepancy exists between developing and developed countries in terms of impact of government ownership on bank risk taking. Based on the results, we propose the following suggestions. In developing countries, it is necessary for the government to control commercial banks, but it is also indispensable to balance the stability of macro economy and banking system during financial crisis. In developed countries, it is the best practice to avoid controlling commercial banks and inter- vening the market behavior of banks.

关 键 词：政府控股 商业银行 风险承担 金融危机 

分 类 号：F831[经济管理—金融学]