银行业务地理扩张与银行系统性风险的恶化——基于中国上市银行的证据  

Geographical Expansion of Banking Business and Deterioration of Banking Systemic Risk——A Study Based on Chinese Listed Commercial Banks

作　　者：马传慧 方军雄 MA Chuanhui;FANG Junxiong(School of Finance,Shanghai University of International Business&Economics,Shanghai,201620;School of Management,Fudan University,Shanghai,200433;School of Accounting,Zhejiang University of Finance&Economics,Zhejiang,310018)

机构地区：[1]上海对外经贸大学金融管理学院 [2]复旦大学管理学院工商管理流动站 [3]浙江财经大学会计学院

出　　处：《中国经济问题》2024年第3期135-150,共16页China Economic Studies

基　　金：国家自然科学基金面上项目(72272132)。

摘　　要：本文首次系统探讨了银行业务跨区域扩张对银行系统性风险的影响。基于中国上市商业银行数据的研究发现,银行业务地理扩张与银行系统性风险显著呈正相关关系,即存在明显的“地理扩张系统性风险”效应。在使用“城市商业银行分支机构市场准入政策的调整意见”的政策冲击作为准自然实验后,上述结论依然成立。进一步研究发现,上市银行业务地理扩张对银行系统性风险的影响主要通过银行间资产相似性的渠道展开。此外,“地理扩张系统性风险”效应主要存在于总部位于中心城市、中心城市高分布度和低股权集中度的银行中。As the most important financial intermediary in China's financial system,the effectiveness of the diversification strategy adopted by banks to reduce the systemic risk of individual banks is an important topic in theory and practice.This paper systematically discusses the impact of cross-regional expansion of banking business on banking systemic risk for the first time.Using the data of Chinese listed commercial banks,it is found that there is a significant positive correlation between the geographical expansion of banking business and banking systemic risk,that is,there exists an obvious“geographical expansion systemic risk”effect.The conclusion is still valid in the robust test using the“Adjustment Opinions on Market Access Policies for Urban Commercial Bank Branches”as a natural experiment.Further research shows that the impact of geographical expansion of listed banking business on bank systemic risk is mainly carried out through the channel of inter-bank asset similarity.The higher the degree of bank asset similarity,the greater the bank systemic risk presents.In addition,this paper finds that the“geographical expansion systemic risk”effect mainly exists in banks headquartered in central cities,with high distribution in central cities,and low equity concentration.The research results of this paper bring relatively new empirical evidence for confirming the systemic risk brought by the excessive expansion of listed banks and have important reference value for the reform and practice of controlling and preventing banking systemic risk.

关 键 词：地理扩张 银行系统性风险 资产相似性 

分 类 号：F832.33[经济管理—金融学]