资产证券化与商业银行盈利能力研究--来自中国银行业的经验证据  

A Research on Asset Securitization and Profitability of Commercial Banks--Empirical Evidence from China’s Banking Sector

作　　者：安丛梅 张虹[1] 马强 AN Cong-mei;ZHANG Hong;MA Qiang

机构地区：[1]辽宁大学经济学院,沈阳110000 [2]辽宁石油化工大学经济学院

出　　处：《金融论坛》2021年第5期18-27,共10页Finance Forum

基　　金：辽宁省教育厅青年项目“金融领域供给侧结构性改革视角下东北振兴的障碍及战略研究”(L2017WQN005)。

摘　　要：本文以2012-2019年45家商业银行半年报数据为样本,实证考察资产证券化对商业银行盈利能力的影响。研究发现:资产证券化会显著提升商业银行盈利能力,且在不同竞争压力银行中存在异质性影响。从微观视角出发,资产证券化是通过提升流动性水平、杠杆水平及非利息收入影响盈利能力。进一步研究发现,在实施利率市场化政策条件下,资产证券化将明显提升银行盈利能力,这种正面影响在创新能力强的银行中更为显著。This paper uses the semi-annual report data of 45 commercial banks during 2012-2019 as samples to empirically examine the impact of asset securitization on the profitability of commercial banks.It’s found that asset securitization significantly improves the profitability of commercial banks,and there are heterogeneous effects in banks with different competitive pressure.From a micro perspective,asset securitization influences the profitability by increasing the levels of liquidity,leverage and non-interest income.The further research shows that,under the conditions of the implementation of interest rate liberalization,the asset securitization will significantly improve the profitability of banks,and the positive impact is more significant in banks with strong innovation capabilities.

关 键 词：资产证券化 商业银行 盈利能力 创新能力 利率市场化 

分 类 号：G21[文化科学—新闻学] G32