LPR机制改革对商业银行盈利能力和风险承担的影响研究  

The Impact of LPR Reform on Commercial Banks’ Profitability and Risk-Taking Behaviors

作　　者：刘妍[1] 孙永志 宫长亮 曾刚[4] Liu Yan;Sun Yongzhi;Gong Changliang;Zeng Gang(School of Finance,Dong Bei University of Finance and Economics;Dandong Branch,Bank of Dalian;Institute of Fi‐nance,Chinese Academy of Social Sciences)

机构地区：[1]东北财经大学金融学院金融管理系 [2]东北财经大学金融学院 [3]大连银行丹东分行 [4]中国社会科学院金融研究所

出　　处：《国际金融研究》2022年第10期72-84,共13页Studies of International Finance

基　　金：辽宁省教育厅项目“我国银行及银行体系韧性研究”(LN2020J22);辽宁省社科联项目“数字化金融服务辽宁省制造业转型升级研究”(2022lslybkt-009);辽宁省科研平台研究能力提升专项“数字金融与辽宁现代服务业高质量发展融合路径研究”(PT-Y202224)资助。

摘　　要：LPR机制改革作为我国利率市场化改革的重要组成部分,对于推动利率市场化进程、提高货币政策利率传导效率、提升银行贷款自主定价程度具有重要意义。本文选取2016—2020年164家商业银行年度数据,通过PSM对数据进行处理,采用DID方法研究LPR机制改革对我国商业银行盈利能力和风险承担水平的影响。研究发现:LPR机制改革的实施将会提高商业银行风险承担水平,提升商业银行的盈利能力;LPR机制改革可以通过竞争和信贷两个渠道提高商业银行风险承担水平;LPR机制改革对农村商业银行的影响较大,能显著提升农村商业银行的盈利能力和风险承担水平,而对股份制商业银行影响较小。本研究为商业银行应对LPR改革提供对策建议,为监管部门完善机制改革、抵御利率市场化负面影响和维护金融系统稳定提供参考。As an important part of interest rate marketization reform, LPR reform is of great significance for commercial banks to improve the marketization of loan pricing in China. Based on the annual data of 164 commercial banks from 2016 to2020, this paper studies the impact of LPR formation mechanism on the profitability and risk-taking behaviors of commercial banks by PSM-DID. The results show that: firstly, the implementation of LPR increases the risk-taking level of commercial banks and enhance the profitability of commercial banks;secondly, LPR can significantly increase the risk-taking level of commercial banks through competition and credit channels;thirdly, LPR mechanism reform has the greatest impact on rural commercial banks, as evidenced by significant increase in the profitability and risk-taking level, while it has less impact on joint-stock banks. The research of this paper puts forward corresponding countermeasures and suggestions for commercial banks to deal with the LPR reform, and provides useful help for government regulators to improve mechanism reform, resist the negative impact of interest rate marketization and maintain the stability of the financial system.

关 键 词：LPR改革 盈利能力 风险承担 双重差分 

分 类 号：F832.0[经济管理—金融学] F832.2