评级市场竞争与评级品质——基于商业银行信用评级数据  

Whether Competition Affects Rating Quality?Based on the Banks Credit Rating Data of China

作　　者：沈中华[1] 管超[2] 黄玉丽 

机构地区：[1]台湾大学财务金融系 [2]厦门大学经济学院 [3]台湾实践大学财务金融系

出　　处：《吉林大学社会科学学报》2016年第6期72-83,188-189,共12页Jilin University Journal Social Sciences Edition

摘　　要：以2007—2014年中国各层次商业银行主体信用评级为研究对象,探讨商业银行信用评级的决定因素以及评级市场竞争对评级品质的影响,验证"利益冲突"和"声誉机制"两个评级竞争假说,进一步探讨在评级市场竞争环境下,我国商业银行是否存在"评级选购"现象,检验被评方行为对评级品质的影响。结果显示,我国商业银行主体信用评级主要由CAMELS体系和公司治理因素共同决定,而宏观区位因素和审计信息可靠性也对评级影响较大;当联合资信面对本国其他评级竞争者或国际竞争者时,并不会给予被评方更佳的评级等级,支持"声誉机制"假说;银行整体的"评级选购"并不显著,但也可能是样本未覆盖评级选购现象出现较多的2015年数据的原因。The paper use the Chinese commercial banks during 2007- 2014 and its issuer-firm credit ratings as its sample,aiming to find out the determinants of the bank's credit rating,and the effects of enhanced competition on banks credit rating quality. Further,the paper follow ed 13578665395 investigate w hether the rating shopping hypothesis holds,w hich show out the bank's behavior can influence itself rating quality or not. The results show,first,that the factors that affect Chinese bank's issuer credit rating are CAM ELS accounting system,corporate governance,macro-location factor and audit information reliability also affect the bank credit rating result to some extent. Second,China Lianhe Credit Rating Co. Ltd does not assign a favorable rating result to banks w hen facing w ith other Chinese credit rating companies or international competitors,w hich support reputation mechanism hypothesis. Third,the credit shopping phenomenon is not significant existence in this paper,but result might be biased since this paper does not include 2015 bank credit rating data,during the year w hich the shopping phenomenon is obvious in our observation.

关 键 词：信用评级 商业银行 利益冲突 声誉机制 评级选购 

分 类 号：F832.33[经济管理—金融学]