银行竞争、批发融资与系统性风险  

Bank Competition, Wholesale Funding and Systemic Risk

作　　者：张琳[1] 廉永辉 曹红 ZHANG Lin;LIAN Yong-hui;CAO Hong

机构地区：[1]北京工商大学 [2]首都经济贸易大学,北京100070

出　　处：《金融论坛》2020年第8期28-37,共10页Finance Forum

基　　金：国家自然科学基金“债券投资如何影响商业银行系统性风险——基于系统性风险‘冲击—传染’二元生成机制的视角”(71903136);北京市社会科学基金“京津冀银行业对外开放:发展趋势、经济效应和提升策略”(18YJC021)。

摘　　要：本文基于中国2008-2018年26家A股上市银行季度数据,运用中介效应模型以"银行竞争→批发融资→系统性风险"为分析路径,实证考察银行竞争影响银行系统性风险的机制和效果。研究结果表明:(1)银行竞争对批发融资占比和银行系统性风险均具有显著正向影响;(2)批发融资占比对银行系统性风险具有显著正向影响;(3)批发融资占比在银行竞争对系统性风险的影响中发挥不完全中介效应。Using the quarterly data of 26 A-share listed banks during 2008-2018, the authors of this paper empirically examine the mechanism and impact of bank competition on bank systemic risk with the mediation effect model and along the analytical path of"bank competition→wholesale funding→systemic risk". The results show that:(1) the impact of bank competition is significantly positive on the wholesale funding ratio and the systemic risk;(2) the impact of wholesale funding ratio is significantly positive on the systemic risk;(3) wholesale funding ratio is an incomplete mediator in bank competition’s impact on the systemic risk.

关 键 词：银行竞争 批发融资 系统性风险 金融系统稳定 中介效应 

分 类 号：G21[文化科学—新闻学]