普惠金融竞争下的中小银行风险重构——基于大型银行业务下沉的实证发现  

Risk Reconstruction of Small and Medium-sized Banks under the Competition of Inclusive Finance:Empirical Findings Based on the Business Penetration of Large Banks

作　　者：蔡庆丰[1] 舒少文 邹静娴 黄蕾 CAI Qing-feng;SHU Shao-wen;ZOU Jing-xian;HUANG Lei(School of Economics,Xiamen University;National Academy of Development and Strategy,Renmin University of China)

机构地区：[1]厦门大学经济学院 [2]中国人民大学国家发展与战略研究院

出　　处：《中国工业经济》2025年第2期99-117,共19页China Industrial Economics

基　　金：国家社会科学基金重大项目“数字经济对区域协调发展的影响与对策研究”(批准号23&ZD079)。

摘　　要：防范和化解中小银行风险、推动普惠金融发展是金融供给侧改革和金融强国建设的重点。2017年11部门共同发文要求大型银行成立普惠金融事业部,发力普惠金融、缓解小微企业“融资难、融资贵”问题。那么,这种政策推动的大型银行普惠金融业务下沉是否会影响地方性中小银行的经营与风险呢?本文以2010—2021年地方性中小银行为样本,研究发现,大型银行普惠金融业务下沉会推升中小银行风险,引致城市商业银行和农村商业银行的风险分化,表现为城市商业银行的风险提升更为明显。影响机制显示,大型银行普惠金融业务下沉会引致中小银行存贷双重承压、影子银行业务扩张,进而抬升其风险。异质性分析发现,上述效应在银行竞争程度较高和数字经济发展较差的地区更加显著,在多元化经营能力较弱的中小银行中更加明显。进一步研究发现,大型银行普惠金融业务下沉加速了区域中小银行合并,有助于提升中小银行服务地区实体经济的能力,可以有效提升中小企业的投融资水平。此外,政策推动大型银行普惠金融业务下沉会加速其基层网点扩张以更好地服务小微企业和普惠客群。本文研究不仅有助于厘清政策推动下的大型银行普惠金融业务下沉对于中小银行风险的影响机理,还为防范和化解中小银行异质性风险和地区金融风险提供了新思路和政策启示。Small and medium-sized financial institutions,along with real estate and local government debt,are among the“three major risks”that China needs to focus on preventing and resolving.Local small and medium-sized banks(SMBs)have a deep local presence and possess a comparative advantage in serving small and micro enterprises.Inclusive finance is one of the key businesses and main profit sources for these banks.To better address the financing difficulties and high costs faced by small,medium,and micro enterprises,regulatory policies require large banks to establish inclusive finance departments to accelerate the penetration of financial services in 2017.However,the penetration of inclusive finance by large banks can lead to the loss of high-quality inclusive customers from local SMBs,resulting in a deterioration of the overall customer base.At the same time,it is challenging for these banks to raise loan interest rates to cover risks,which can trigger a restructuring of risks for local SMBs.Therefore,clarifying the impact of large banks'inclusive finance penetration on the risk restructuring of local SMBs is particularly important.This paper uses a sample of Chinese local SMBs from 2010 to 2021 to study the impact of large banks'inclusive finance penetration on the risk restructuring of these banks.The baseline regression results reveal that the competitive distortions caused by large banks'inclusive finance penetration in regional banking markets increase the risks for SMBs,with a more pronounced effect on city commercial banks.The mechanism analysis shows that the expansion of inclusive finance by large banks puts dual pressure on the deposits and loans of SMBs and leads to the expansion of shadow banking activities,thereby increasing their risks.Heterogeneity tests indicate that the risk-promoting effect of large banks'inclusive finance penetration is more significant in regions with higher bank competition and weaker digital economic development,as well as among SMBs with lower internal operational efficiency.

关 键 词：普惠金融 中小银行 金融风险 

分 类 号：F262[经济管理—国民经济]