商业银行“轻型化”转型如何影响系统性风险——兼论风险防控的“市场失灵”与“监管失灵”  

How does the Lightweight Transformation of Commercial Banks Affect Systematic Risk:Concurrently Discussing Market Malfunction and Regulation Malfunction in Risk Prevention and Control

作　　者：王龑 WANG Yan(School of Economics and Management,Dalian Minzu University,Dalian Liaoning 116000,China)

机构地区：[1]大连民族大学经济管理学院,辽宁大连116000

出　　处：《金融理论与教学》2025年第1期24-36,101,共14页Financial Theory and Teaching

基　　金：教育部人文社会科学研究青年基金项目“中国银行业轻型化转型的经济效益与潜在风险研究——兼论最优转型路径与金融稳定政策”(22YJC790134)。

摘　　要：“轻型化”是中国银行业近年来重要的转型方向。研究基于中国42家上市银行2008—2022年的季度数据,实证检验了商业银行“轻型化”转型对系统性风险的影响。研究表明:“轻型化”转型加剧了商业银行的系统性风险。机制检验发现,“轻型化”转型主要通过“过度自信”和“脱实向虚”两条渠道加剧系统性风险。在商业银行“轻型化”转型的过程中:一方面,存在风险防控的“市场失灵”,即银行争相转型导致系统性风险过度积累;另一方面,存在风险防控的“监管失灵”,即当前的差异化监管框架下金融监管并未有效抑制系统性风险攀升。此外,随着“轻型化”转型的推进,资本监管抑制系统性风险的效果会逐渐降低,流动性监管抑制系统性风险的效果则会持续增强。Lightweight is an important transformation direction for China’s banking sector in recent years.Based on the quarterly data of 42 listed banks in China from 2008 to 2022,the research empirically examines the impact of lightweight transformation of commercial banks on systemic risk.Research has shown that the lightweight transformation has exacerbated the systemic risk of commercial banks.Mechanism testing has found that the lightweight transformation mainly exacerbates systemic risk through two channels:“overconfidence”and“shift from real economy to virtual economy”.In the process of lightweight transformation of commercial banks,on the one hand,there is a market malfunction in risk prevention and control,specifically,commercial banks’competing to transform leads to the excessive accumulation of systemic risk;on the other hand,there is a regulation malfunction in risk prevention and control,namely,financial regulation under the current differentiated regulatory framework has not effectively suppressed the rise of systemic risk.In addition,with the advancement of lightweight transformation,the effectiveness of capital regulation on suppressing systemic risk will gradually decline,while the effectiveness of liquidity regulation on suppressing systemic risk will continue to increase.

关 键 词：轻型化转型 系统性风险 资本监管 流动性监管 

分 类 号：F830.9[经济管理—金融学]