资管新规是否降低了银行风险——基于双重差分模型的实证检验  

Does“New Regulations on Asset Management”Reduce Bank Risk:A Test Based on the Difference-in-Differences Model

作　　者：邵梯航 孙飞[2] SHAO Ti-hang;SUN Fei

机构地区：[1]中国人民大学财政金融学院 [2]国务院发展研究中心公共管理与人力资源研究所

出　　处：《北京社会科学》2024年第1期78-91,共14页Social Sciences of Beijing

摘　　要：基于中国商业银行微观视角,利用2014-2020年中国143家银行的面板数据,通过双重差分模型实证检验了资管新规政策对银行风险的影响及作用机制。结果显示,资管新规的实施能够显著降低银行风险。机制检验表明,资管新规通过提升银行资本充足水平及增强银行盈利能力,进而降低银行风险。异质性分析表明,资管新规的实施能够更加有效地降低非国有银行的风险。因此,应继续坚持资管新规对银行的有序规范、提升银行资本充足水平及增强银行盈利能力。Based on the micro-view of Chinese commercial banks,this paper examines the impact and mechanism of the“New Regulations on Asset Management”on the banks risk by using the panel data of 143 banks in China from 2014 to 2020 throught the difference-in-differences model.The results show that:first,“New Regulations on Asset Management”can significantly reduce banks risk.Second,in terms of influence mechanism,“New Regulations on Asset Management”reduce bank risks by improving bank capital adequacy levels and enhancing bank profitability.At last,in consideration of heterogenous issue,“New Regulations on Asset Management”plays a more significant role in reducing non-state-owned banks risk.According to the results of this paper,policymakers in China should continue to adhere to the orderly regulation of banks,improve banks capital adequacy level and enhance banks profitability.

关 键 词：资管新规 银行风险 商业银行监管 银行资本 

分 类 号：F832[经济管理—金融学]